In my opinion, to give banks a monetary fine is not sufficient. Manufacturers View all. We accept sample papers from students via the submission form. The Forex Fix: Understanding the Foreign Currency Scam In. Course Documents, Test Previews and other resources above may attempt to open or download Adobe PDF files. Course Hero is not sponsored or endorsed by any college or university. Retrieved October 20, 2015. Rigging of Foreign Exchange Market Makes. When an individual or small business breaks the law they are often revoked of their rights. Get step-by-step explanations, verified by experts. Retrieved September 17, 2015. Examples of vices include jealousy and greed. Case Study, Topic: Submitted by KBL781 on Tue, 2010-12-07 09:20. Engineering Ethics; Concepts and The company also broke the law, which speaks for itself. ", "Case Study On Ethical Issues Citicorp Case Study,". The decision to change welded joints to bolted joints was an important change that should have been considered more carefully. Fourthly, the corrective design of the Citicorp building was a brilliant idea and ethical. In the problem design there is no single design that is perfect, and other professionals’ ideas can bring insights into unnoticeable errors; thus, it is unprofessional to shun other people’s ideas (Harris, Pritchard, and Rabins). Karen, F., David, H., & Steve, S. (2015, May 20). Individualism (Friedman's Economic Theory), Utilitarianism, Kantianism, and Virtue Theory Analyses of Business Controversies., McDonald's "Deceptive" Marketing to Children (2010), Starbucks Scolded for Stifling Competition (2006), Volkswagen: Emissions Scandal Due To Fraudulent Software (2014), The Ethics Behind "The Wolf of Wall Street" (1990s), The Walt Disney Corporation: Marvel CEO Taking Over, Walmarts Ethical Troubles, Lowest Prices for Customer's at Expense of Employees (2016), The Walt Disney Company Layoff of Technicians (2015). Initially, LeMessurier feared reporting his observation, as it could have brought his profession and firm at cross road. Overall, Citigroup acted unethically in fixing the foreign exchange rates and everyone involved should serve the consequences of their actions. Citigroup has not seen any trouble in business activity after the scandal. Although the traders were manipulating rates to make more profit, they were doing outside of the law. Chon, G., Binham, C., & Noonan, L. (2015, May 20). Building partnerships for the future with work ethics and standards of the past. Accessed November 12, 2020., WowEssays. Available from:, "Case Study On Ethical Issues Citicorp Case Study." Cases. In addition, he presented the observation with a complete plan for correcting the building errors. Pleads Guilty to the FX Scandal (2... JPMorgan Chase & Co 2015 LIBOR Rigging: Short-Term... General Motors: A Recall Nightmare (2014), PetroChina: The True Cost of Cheap Gas (2013-2015), Facebook: Manipulating Users with No Consent (2012), Oracle: Questionable Personnel Choice (2010). Just fill out the removal request form with all necessary details, such as page location and some verification of you being a true owner. Virtue Theory declares that if a company, or individual is acting in such a way that they are expressing good character traits and working to avoid bad character traits then they are acting ethically.