Chuck Colson speech. Business and Marketing Essay. (Essay Sample)
For maximum credit, I need to be able to determine from your answers that you actually gave some critical thought to question 2, parts a. and b.
I have not put any specific length requirement on these, but a paragraph or so that shows you have thought about your answers should suffice.
Definition: Selling Short – to sell short is a way of making money when a stock declines in value. The short seller borrows a certain amount of stock from a broker and sells it; if the stock declines in value, the short seller buys it at the lower value, returns it to the broker, and keeps the difference in price less the borrowing fees. For example, a short seller could borrow 100 shares of a stock valued at $10 per share and sell them for $1,000; if the stock then drops to $8 per share, he could buy another 100 shares for $800, return them to the broker, and keep the $200 difference. If the stock goes up, he could lose money. This type of transaction is generally considered to be an ethical trade. However, in the examples discussed in the video, the financial firms had bad assets on their books (bad mortgages), sold them to other companies as a package of mortgage-backed securities (and those purchasing companies believed they were buying legitimate assets), and then the selling company turned around and shorted those securities to make a ton of profit when the value of the securities fell.
Q1. Brit Hume suggests that the financial collapse was caused by ethical failures on four levels:
2. Financial markets
3. Mortgage lending banks
4. The public
Briefly note what the video said were the ethical failures on the part of each of these. Each of these answers can be a sentence or two.
Q2. In the video, Chuck Colson argues it is impossible to teach ethics from a relativistic point of view. He says there must be an absolute standard. Read (on Canvas) Chuck Colson’s speech from Harvard on The Problem of Ethics.
part a. If relativism is true, then man is forced to come up with his own standards of right and wrong. If this is the case, ultimately what will determine right and wrong?
part b. Read Romans 2:14-15 and Titus 1:15. Is our conscience or our integrity a reliable starting point for ethics? Why or why not?
Video is in youtube "Doing the Right Thing Group Bible Study by Charles Colson".
Chuck Colson Speech
The Financial collapse as a Result of Ethical Failures on Four Levels;
1. Government: the government failed to guide the public on what to buy and what not to buy. There was also corruption and abuse of power, leading to misuse of resources.
2. Financial markets; they were characterized by greed and they exploited the public. Their main focus was to maximize their profits at the expense of the people.
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