The Ethical Behavior of Bernard Madoff and Enron Corp

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The ethical Behavior of Bernard Madoff and Enron Corp Enron and Madoff investment corporation downfall resulted from their failure to observe the business code of ethics. Their greed, improper transactions, lack of transparency and integrity, bankrupted and exposed their criminal activity. They lost the confidence of the public and their employees. Business men are expected to conduct themselves in ethically acceptable rules that follow social values. They are required to follow regulations and laws that are passed in order to protect the society. Businesses are supposed to be honest, have full and accurate financial disclosure in their financial statements. They are to be responsible by being environmentally friendly and protect the welfare of society also. They have a responsibility to their employees, creditors, and shareholders. There are issues of fraud, money laundering and betrayal of the public trust. Madoff committed fraud by falsifying financial statements to his investors, which included not only individuals, but also many charities that served the community. These charities help their communities with outreach programs and also programs to help children and families with food and housing programs. He was able to hide his criminal enterprise from government regulators for many years. He was even taped making fun of the SEC regulators during a phone conversation with a Connecticut Hedge fund Fairfield Greenwich Group. www.cnbc.com/id/32767249. Employees were affected by the scandal because they lost their jobs and employment opportunities through no fault of their own. The economy suffered also by the loss of $50billion in wealth. Madoff scheme was quite simple; He paid one investor with other investor’s money. Enron Corporation was a company that dealt mainly supplying energy to customers across the western states. The stock price began to rise

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