Free Sociology Article Review Sample

Published: 2021-07-05 00:05:04
essay essay

Category: Banking, Ethics, Greed, Compromise, Situation, Deal, Aftermath, Mechanism

Type of paper: Essay

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Ethical compromise
The Oxford Dictionary defines compromise as the settlement of certain differences by mutual agreement that can be reached by adjusting the conflicting or opposing claims, principles, or by modifying demands.
Therefore, to compromise means to come to a certain deal in a a problematic situation between several parties by giving up some of their demands in favor of another party. The cornerstone of any argument is communication, only through which a mutual acceptance of terms can be reached, even if it involves any deviations from original goals or desires, whereas ethical compromise means that you can deal with the situation you have done wrong in.
The presented video program tells us all about the ethical compromise created during the recession of 2008, and the situation those responsible bankers found themselves in, but with the only exception: bankers were completely unable to handle the aftermath situation, nor were they held fully responsible for secret fraud actions they had been practicing for over a decade before the judgment day arrived. What is even more frustrating is that such situation could have been easily avoided, as government authorities had been trying to reach out to those masterminds before everything went completely wrong, but simple greed has made the case. It was a wish to make bank investments safer that helped to create a mechanism of selling/purchasing security swaps, but it was the greed that turned this mechanism into a self-sustained monster, which, ones freed, got out of control, and could not be stopped. This whole case of a mortgage bubble that blew in 2008 is an example of an ethical compromise but without the needed compromised to be reached, and without the ability to handle the aftermath.

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