Analysis and investigation of the ethical problems of the Washington Michal Bank

Ali Ziaeefard¹ Amir Hossein Nimjerdi² Mohammad Rezaei kheirabadi³

1) Master of Business Administration, Amirkabir University of Technology, Tehran, Iran
2) Master of Business Administration, Amirkabir University of Technology, Tehran, Iran
3) Master of Business Administration, Amirkabir University of Technology, Tehran, Iran

IOI Code : XGEE-KDAGC
Publication : 2nd International Conference on Researches in Accounting, Economics, Management & Humanities(meaconf.com/2nd)
Abstract :
    This research examines the bankruptcy of Washington Michal Bank in September 2008, one of the largest bank failures in American history. This review includes an in-depth analysis of the multiple causes that led to this bankruptcy, including banking policies, the housing market, and the role of financial and regulatory oversight. Ethical and philosophical lessons related to this bankruptcy and how they influence the change of financial laws and regulations, from different philosophical and ethical perspectives, including dutyism (in the style of Ross and Kant), utilitarianism (focusing on rule and practice), double effects , the perspective of routine, fraud and manipulation, the formula of universal law and the methods of rationality are examined. The economic effects of this bankruptcy on the housing market, the American economy and the global market, as well as its effects on public trust in banks and financial institutions are considered. The purpose of this research is to gain a deeper understanding of the events related to the bankruptcy of Washington Michal and its role in shaping the current financial and economic environment and to examine related ethical issues through various philosophical angles. We hope that this research will lead to a deeper understanding of this defining event in global financial history and help improve our methods of preventing such crises from happening again in the future.

Keywords : washington michal bank business ethics 2008 financial crisis mortgage housing bubble