Conclusions

Jes Villa

Chapter 8 in Ethics in Banking, 2015, pp 152-171 from Palgrave Macmillan

Abstract: Abstract Looking back from the perspective of July 2009, the world has witnessed nearly two years of rapidly deteriorating economic conditions that have ravaged all nations. This catastrophe had its origins in the sub-prime crisis that brought misery to millions of homeowners, overwhelmed banks and other lenders and wreaked havoc on financial systems. Chapters 3 and 4 examined the comments by senior executives during the interviews, which were then analysed in comparison to the actions of their banks. The preliminary conclusions were developed from an examination of ethical practices in banking. The succeeding chapters probed into the origins and the ramifications of the sub-prime disaster. What went wrong? And how could things go so wrong? This chapter shall present the conclusions about the inherent ethical deficiencies in banks that were responsible for the gross problems that led to this modern great recession.

Keywords: Corporate Social Responsibility; Interest Rate; Mortgage Loan; Senior Executive; Mortgage Lender (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-34028-3_8

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DOI: 10.1057/9781137340283_8

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