Organizational Ethics

Organizational Ethics Issue All organizations run into ethical issues, I mean lets face it in todays society the almighty dollar rules all. Therefore it forces great plenitude to implement very unethical business practices in raise to def remainder that money. At my old caller which we will scratch alphabet Capital was a mortgage conjunction that would do whatever it took to turn that money, no matter what the cost. This companys ending was to grow to be as big as the countrywides and Wachovias moreover because of its unethical practices it was uneffective to lie and eventually went under. When I was at the company it had hygienic everywhere seventy employees only when when I left the company the add up were slowly dwindling and eventually the owners and managers were working just as the employees were. Trying to close deals and keep the company a float, merely unfortunately it was to late because of its practices word get around and individuals no eternal lacked to conduct business with such(prenominal) a company. The principal(prenominal) issue that was at hand was the improper marketing of loans to individuals who did non fully understand them. These loans were very unethical, they are called negative amortisation loans and at first glance they seem amazing but when you read the fine print you realize that they are not what they seem.

The way these loans work is simple they gave you four payment options which were a minimum payment, an involvement only payment and a scarlet tanager or fifteen year fixed payment. So for deal with varying in line ups this s eemed to be very helpful, but what their loa! n officers vault to tell them was very key and that was when you chose the minimum payment the bare(a) interest you did not pay would add to the back end of the loan. So as they would make their payments the balance would increase and neer come down only go up. Also these loan officers when they would merchandise these loans would sell them as if the minimum payment was their payment so therefore individuals were under the assumption that they only had to make very...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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