1. Goldman Sachs CEO Lloyd Blankfein publicly justified the firm selling bundles of troubled mortgages to its clients at the same time it bet the firm’s own money that the value of those mortgages would fall by saying th
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1. Goldman Sachs CEO Lloyd Blankfein publicly justified the firm selling bundles of troubled mortgages to its clients at the same time it bet the firm’s own money that the value of those mortgages would fall by saying that Goldman’s clients knew what they were buying. Goldman, he said, was simply offering its clients a service. Mr. Blankfein’s response reflects an attitude that is most consistent with:
a. Carson’s Moral Minimums of Sales.
b. Chris Moore’s Principles of Advertising
c. Nozick’s Rights Theory. (No force or fraud)
d. Rawls’ Theory of Justice.
e. The Ethic of Care.
2. On March 14, 2012, Greg Smith, a former Vice President of investment giant Goldman Sachs, published an essay in the New York Times explaining why he was resigning from the firm. He had joined Goldman 12 years before right out of college, but he said he was leaving because he had come to believe that Goldman had developed a culture of putting quick profits for the firm ahead of the interests of the firm’s clients. Smith wrote: “My proudest moments in life – getting a full scholarship to go from South Africa to Stanford University, being selected as a Rhodes Scholar national finalist, winning a bronze medal for table tennis at the Maccabiah Games in Israel, known as the Jewish Olympics – have all come through hard work, with no shortcuts. Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.” Mr. Smith’s decision was driven by:
a. Utilitarianism.
b. The illusion of superiority.
c. Virtue Ethics. (Made decision based on how reflected on his character)
d. Integrative Social Contracts Theory.
e. A low desire for moral approbation of self.
3. A July 17, 2009 article in the Wall Street Journal entitled “Drinks with a Jolt Draw New Scrutiny” discusses limits that states are considering imposing on the marketing of caffeinated alcoholic beverages such as Joose that are especially popular with college students. One beer distributor complained that regulators were unfairly targeting such drinks. “I really believe in personal responsibility, and I think it’s ridiculous that the attorneys general have turned it into a nanny state.” The ethical theory that best reflects the beer distributor’s reaction to the proposed new regulations is:
a. The Ethic of Care.
b. Kohlberg’s Theory of Moral Development
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