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Essay / Research Paper Abstract
This is a 5 page paper that provides an overview of the ethics of compensation. The trend of large bonuses being paid to executives of banks who received federal bailouts is examined. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: KW60_KFceobon.doc
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Unformatted sample text from the term paper:
taxpayer-funded "bailouts" issued to both industries in order to save them from catastrophic collapse in the face of unsound business practices. Banks, for their part, were complicit in the housing
crisis of 2007 and 2008, in which loans issued with subprime interest rates led to a huge number of borrowers defaulting on their variable mortgages when rates proved unfavorable. For
many, foreclosure was simply the better option. That said, the United States government issued the bailout to a number of banking institutions in order to ensure that they could continue
operations unhindered. Now, however, a new controversy is brewing: executives at these banks that were struggling just a year or two ago are now pocketing huge bonuses which many feel,
given the circumstances of the bailout, are grossly unethical. This paper will examine the issue from two ethical perpsectives: that of deontological ethics, as well as utilitarian ethics, with a
view towards determining whether or not such bonuses really do represent an ethical problem. To better examine the ethical dimensions of this issue, it may well be instructive to
look at the particulars of how executives in general are able to reward themselves with large bonuses despite the precarious economic status of their businesses. Some experts attribute the matter
to a dramatic increase in technological development and availability over the last few decades, as well as the increase in both scale and geographic domain that these advancements provide for
(Kaplan, 2010). In other words, business professionals are just simply able to do a lot more business nowadays than they ever were before because they can reach more people at
a lower cost, and because certain technologies such as productivity software and devices make it easier to handle more business than previously (Kaplan, 2010). Because of this, some claim that
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