Citigroup Merger In Inside Job

Citigroup Merger Scheme The film The Inside Job provides a in depth look at the various moral principle tout ensembley indistinct condescension practices that take place in The U.S. and around the earthly concern which helped spark the financial crisis of 2008. unrivalled such practice, the merger of Citicorp with Travelers, utilize honorablely questionable business practices in parade to blend in the largest financial services beau monde in the world. In 1998 these two companies merged to become Citigroup. The worry with this merger was that it was illegal, and a consume violation of The Glass-Steagall suffice, which was enacted on the heels of The extensive Depression in 1933. This Act pr scourted banks with consumer deposits from engaging in risky investment banking activities. The Chairman of The national maintain, Alan Greenspan, said and did naught to prevent this merger from happening and The federal official Reserve itself gave them a one-year exemption fo r their merger. In 1999 sexual congener passed The Gramm-Leach-Bliley Act that overturned The Glass-Steagall Act and paved the way for clock to come mergers. The Chairmen of both parent companies, nates Reed and blonde Weill, became co-CEOS and The depravity Chairman Robert Rubin would go on to make $126,000,000 for himself nether Citigroup.

It is straighten out that the parties involved in the Citigroup merger were in operation(p) under the moral philosophy of egoism. Egoism defines sort out or acceptable actions as those that increase a particular mortals egoism as defined by the individual. John Reed, Sandy Wei ll and Robert Rubin all acted in order to ga! in great power and wealth for themselves; their actions were perverting to the average consumer with deposits in their banks because the merger was risking their money in order for the individuals at the top to obtain monetary gains. They believed that they were doing right by themselves in this merger, by taking the opportunity that arose, and employ business savvy tactics in order to maximize their gains even though they were performing illegal and unethical...If you want to put up a full essay, order it on our website: OrderCustomPaper.com

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