Wk 3 - 1 Citigroup has been in a number of different scandals A notable one is the accusation that Citi was helping Enron hide their losses by

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1. Citigroup has been in a number of different scandals. A notable one is the accusation that Citi was helping Enron hide their losses by loaning money in such a way that it would not appear on the balance sheet. They settled a class- action lawsuit out of court for $2.65 billion in May 2004. More recently, in March 2006, Australian corporate regulator ASIC filed penalty proceedings in the Federal Court against Citigroup's global markets subsidiary in Australia. Citigroup has come under close scrutiny in the past and, more recently, it has had a negative effect on their stock. 2. I have used many different systems of ethics throughout my life. Egoism is the system that I use most frequently, since it is the system that benefits me the most. An example would be my decision to get a job. This helps me by giving me a source of income, which is necessary for me to buy food and survive. An example of utilitarianism would be performing the tasks of my job. I serve other people in order to make money for the company. This helps
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 07/06/2009 for the course MGMT 303 taught by Professor Scott during the Spring '08 term at Agnes Scott College.

Page1 / 2

Wk 3 - 1 Citigroup has been in a number of different scandals A notable one is the accusation that Citi was helping Enron hide their losses by

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online