David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Business Ethics Quarterly 21 (1):1-22 (2011)
Officials must understand why and how the public lost confidence in the federal government’s ability to manage financial turmoil. Officials outsourced to private parties responsibility for monitoring and policing the safety-net exposures that were bound to be generated by weaknesses in the securitization process. When the adverse consequences of this imprudent arrangement first emerged, officials claimed for months that the difficulties that short-funded, highly leveraged firms were facing in rolling over debt reflected only a shortage of aggregate liquidity and not individual-firm shortages of economic capital. Then, in September 2008, the president and other officials created an unwise sense of urgency that delays in implementation show to have been greatly exaggerated.That authorities and financiers violated common-law duties of loyalty, competence, and care they owe to taxpayers indicates a massive incentive breakdown in industry and government. Taxpayers deserve a thorough-going reorientation of: (1) how regulatory agencies report on their regulatory performance and back-room interactions with Congress and the Treasury, and (2) the contract structures and performance measures used by the financial industry and its government overseers
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
David B. Resnik (2000). Financial Interests and Research Bias. Perspectives on Science 8 (3):255-285.
Marianne M. Jennings, Larry R. Smeltzer & Marie F. Zener (1993). The Ethics of Worker Safety Nets for Corporate Change. Journal of Business Ethics 12 (6):459 - 468.
Steven Scalet & Thomas F. Kelly (2012). The Ethics of Credit Rating Agencies: What Happened and the Way Forward. [REVIEW] Journal of Business Ethics 111 (4):477-490.
Benjamin J. Richardson (2009). Keeping Ethical Investment Ethical: Regulatory Issues for Investing for Sustainability. [REVIEW] Journal of Business Ethics 87 (4):555 - 572.
Geoff Moore (2001). Corporate Social and Financial Performance: An Investigation in the U.K. Supermarket Industry. [REVIEW] Journal of Business Ethics 34 (3-4):299 - 315.
Nuttaneeya Ann Torugsa, Wayne O'Donohue & Rob Hecker (2012). Capabilities, Proactive CSR and Financial Performance in SMEs: Empirical Evidence From an Australian Manufacturing Industry Sector. [REVIEW] Journal of Business Ethics 109 (4):483-500.
Sue Annis Hammond & John W. Slocum (1996). The Impact of Prior Firm Financial Performance on Subsequent Corporate Reputation. Journal of Business Ethics 15 (2):159 - 165.
Bruce Seifert, Sara A. Morris & Barbara R. Bartkus (2003). Comparing Big Givers and Small Givers: Financial Correlates of Corporate Philanthropy. [REVIEW] Journal of Business Ethics 45 (3):195 - 211.
Marcus Wagner & Joris Blom (2011). The Reciprocal and Non-Linear Relationship of Sustainability and Financial Performance. Business Ethics 20 (4):418-432.
Clinton Free & Vaughan Radcliffe (2009). Accountability in Crisis: The Sponsorship Scandal and the Office of the Comptroller General in Canada. [REVIEW] Journal of Business Ethics 84 (2):189 - 208.
W. Gary Simpson & Theodor Kohers (2002). The Link Between Corporate Social and Financial Performance: Evidence From the Banking Industry. [REVIEW] Journal of Business Ethics 35 (2):97 - 109.
Curtis C. Verschoor (1998). A Study of the Link Between a Corporation's Financial Performance and its Commitment to Ethics. Journal of Business Ethics 17 (13):1509-1516.
Marguerite Schneider & Alix Valenti (2008). The Effects of “Going Private” on Corporate Financial and Corporate Social Performance. Proceedings of the International Association for Business and Society 19:236-245.
Added to index2011-01-09
Total downloads11 ( #201,792 of 1,699,550 )
Recent downloads (6 months)7 ( #88,892 of 1,699,550 )
How can I increase my downloads?