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Unformatted text preview: more about profit than their client, and now we’re in a huge recession which could develop into a depression. The current situation would be very easy to give a lesson of ethics based on it, mainly due to the fact that there were a lot of unethical people and choices made during the past 7 to 10 years. Many loan officers and real estate agents had dilemmas facing them, both with negative outcomes but one outcome was clearly the better choice, advise against ARM’s. Most agents were for adjustable rate mortgages because they’re bottom line went up making them more money. The lesson here is that a few unethical decisions led to our nations largest credit crisis to date. It would have been easily avoided had most people made ethical decisions and cared more for their customer and not for their money in their wallets....
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This note was uploaded on 02/25/2009 for the course BTW BTW 250 taught by Professor O'connor during the Fall '08 term at University of Illinois at Urbana–Champaign.
- Fall '08