The purpose of the SOX Act in response to the fraudulent and misleading activities of large corporations such as Enron, Health South, Xerox, Global Crossing, and almost one thousand publicly traded companies. Fraud is defined as “a dishonest act by an employee that results in personal benefit to the employee at a cost to the employer” (Kimmel, Weygandt, & Kieso, 2011). The afore mentioned companies and many others committed fraud when they willingly published false and/or deceptive financial statements making their companies look like they were making huge profits, therefore causing their stock prices to soar and enticing the public to by more and more shares of their companies. Unfortunately, when the truth came out, the fraudulent actions of a few resulted in the loss of almost $5 trillion of stock market value and an undetermined amount for stockholders. Because of this fraudulent action, Congress had no choice but to intervene and pass legislation that would curtail this illegal
Get out and make a change in their community. Let their voice be heard and vote. But do it with a little intelligence, they are being deceived. They are being lied to by the very greedy people they vote in to office to take care of these issues for them. Understand that greed drives the system they have before them.
Cloward and Ohlin argue, that the majority of criminals involved in the drugs trade were unable to succeed within capitalism and were driven to an illegitimate means of obtaining wealth. Cloward and Ohlin further argued that as people were driven into this illegitimate structure they tended to join existing deviant subcultures i.e. the drug subculture as in the case of the drugs trade. The theory does well to explain many crimes of the working class as they are unable to succeed in a society driven by middle class values, however Cloward and Ohlin’s subcultural theory fails to explain the crimes of the powerful whom already have achieved economic wealth through legitimate means. Furthermore the theory
Political and Economic Environment * What type of risks do foreign firms face in trying to conduct business in this type of environment? Lack of transparency, corporate governance, Poor regulatory environment, Widespread corruption, Organized crime, money laundering, counterfeiting, trafficking (humans, drugs, arms), Conflicts of interest, Fraud, Theft of proprietary information, Industrial disputes. b. Why is corruption so prevalent in Indonesia? P.65 Because political and economic factor listed above; In addition, government bureaucrats salaries are very low, inevitably demand bribes from any company that cross their path meaning a long line of officials might require bribes.
When corruption occurs it damages the reputation of the employees and the business. Society relied upon this firm to assist in making them money but the firm was more concerned with their bottom line. Many of the individuals doing business with these firms lost their life savings and destroyed some of the trust that investors have with the Wall Street firms. It makes people have second thoughts about investing in the stock market. Another effect this unethical behavior had on these organizations been they agreed to pay a penalty of over $1.43 billion dollars as compensation to the victims.
The idea was to protect the owners of companies from lawsuits. Actually the rich saw it as a way to lower their taxes, fool the uneducated, and to be irresponsible for their cheating and lies. Wal-Mart, which started out selling all American made products, soon started selling products made in sweatshops in foreign counties and we the people did not care and we scooped up the bargains. Now, these Super Corporations, who answer only to the board members and owners, cut the employees pay, use part timers to avoid benefits and count their billions while families are starving. We the people allowed these corporations to get the upper
His work is very obviously Marxist-based, as it spoke clearly on issues of discrimination and misplaced values. Dr. Seuss could be interpreted as protesting against this exploitation of the public by the capitalists and corporations, by creating a work that states that ““Maybe Christmas, doesn’t come from a store” or “Maybe Christmas…perhaps…means a little bit more!”. The version of Christmas we know now, based on giving and receiving expensive purchases, was nothing more than an incredibly clever marketing gimmick by major corporations, which is essentially the upper class. In his work,
People who are already wealthy and commit white-collar crimes should not be let off easily. They hurt innocent peoples pockets while pocketing money for themselves. Prison time is like a death sentence to those who grew up having everything they ever wanted. Once people become greedy and start committing crimes like Martha Stewart then they deserve to get punished for stealing money. Prison rehabilitates criminals and once freedom, money and life’s luxuries are taken away from white-collar criminals then they will learn that committing such crimes are not worth prison time.
In the novel The Great Gatsby, the author F. Scott Fitzgerald shows his readers that wealthy people use people and things and then discard them as trash. He shows how the American Dream has gone awry. People are caught up in pursuing their dreams and have forgotten real human values. He shows how people’s lives are devoid of meaning or purpose and the enormous devastation caused by the extravagant and careless lifestyles of the wealthy. In other words, Fitzgerald’s main theme is that wealth corrupts.
In the Great Gatsby, Fitzgerald expresses his concerns about the American Dream through Jay Gatsby. Much of his power comes from his money, which ties him to other sources of power in society, such as Meyer Wolfshiem, a mob boss from which Gatsby gains a lot of his influence. Fitzgerald addresses his views of the corrupt society through “I understand you’re looking for a business connection”. Wolfshiem’s secluded tone during this quote to Nick alludes to the fact that his business may be illegal, but overlooked in a society with differing morals. The film 21 also shows the influence of power and corruption on the American Dream.