1 Answer | Add Yours
Perhaps the best known consequence of unethical behavior by corporate officers in recent years was the utter failure of Enron. The top executives at the corporation acted to falsify the financial condition of the company. By doing so, they harmed huge numbers of investors. They also brought about the complete ruin of their company, which fell apart when the scandal was revealed. The firm's main accountants also failed as a result of the scandal.
One could also argue that the financial crash of 2007 and 2008 was the result of unethical practices on the part of management. There are many who feel that the firms that created and sold complex financial products to unsophisticated investors acted unethically. There are also those who believe that the whole bubble occurred due to unethical predatory lending practices. However, unlike with Enron, these claims have not resulted in any criminal prosecutions. Therefore, these claims are more a matter of opinion.
We’ve answered 318,911 questions. We can answer yours, too.Ask a question