Posted by TS
on March 12, 2009, 6:27 pm, in reply to "Business Ethics"
128.54.224.217
After reading the AIG article, i am a little confused as to exactly what scams they pulled ( i don't understand finance at all), but it seems clear that A.I.G, according to Nocera, was mainly operating under the objective of maximizing their profits to the highest degree. According to Ladd, formal organizations should not commit to complying with ordinary standards of morality, rather, they are subject to the standards of rational efficiency. With that said, the actions of A.I.G hardly align with rationality. Behavior is rational if it selects appropriate means to achieving a goal, but A.I.G basically exploited its high ratings to offer security blankets left and right to ultimately attain much more profit through piled up fees. The actions of A.I.G seem highly greed oriented and no doubt, unwise as well. i feel like A.I.G excercised terrible means to achieve their end, ignoring the consequences of their actions and now a price that taxpayers have to pay. their actions seem pretty unethical to me..
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