Business Ethics and Social Responsibility Assignment

Business Ethics and Social Responsibility - Assignment Example The forty-seven-year-old Betty Vinson together with the 35-year-old Normand would face a sentence of fifteen maximum years, in jail. The sentence, however, can reduce to become years less than fifteen. Also among those who admitted the guilt, according to reports by the US TODAY, are Buford Yates and David Myers. The former was a former accounting director and the latter a former controller. The two pleaded guilty during the case of the government against WorldCom. The two were former low-level accountants at the collapsed firm. The sentence was not just. Ms. Vinson made the ethical decision as a way of cooperating with the prosecutor. The confession of guilt was a way of cooperation with the prosecutors. This was in exchange for possible leniency. The prosecutor, therefore, should leave Ms. Betty Vinson without putting then to the sentence. The two ex-WorldCom accountants were following the orders of the Chief Financial Officer, Scott Sullivan. Madoff was a Wall Street cognoscente and led the Nasdaq Stock Market. He also was a money manager that many sought-after. Clients believed to have the secret to investment success. He logged 10 percent of the yearly returns and set little down month. He got returns, in the end. He exploited three things. He took advantage of the fact that a significant number of investors sophisticated funds of hedge funds as well as advisers on investment issues. He exploited the fact that a considerable portion of the investors forgot that if something looks too good, then it is questionable. Madoff also took advantage of regulators’ failure to view his real image. The regulators considered Madoff an influential investment advisor as well as a broker. The discovery of Madoff’s dealings came long after he practiced them for a considerable period. This came with the collapse of markets and a stagnating economy.