Ethical analysis on a contemporary issue in the news Essay

Ethical analysis on a contemporary issue in the news - Essay Example Goldman Company is not an exception to this because; it has been in several occasions engaged in shoddy business. The company is seen as a greedy, with the sole intention of making money, and allowing its managers to acquire large wealth in the process leading to the creation of a negative image. The company is among other companies on Wall Street that are engaged in several business operations, and managed to overcome the storm of the financial crisis, and still doing well despite the challenges facing the company in relation to ethics. The role of the company in ensuring that it collects a lot of money is visible from the inception. The company, Goldman Sachs began in 1869 as a humble company with the sole purpose of clearing for commercial paper. The company founded by Marcus Goldman, and his son in law Samuel Sachs began as a loan provider for small banks. Later the company was influenced with the market environment thus moved from the set idea of the founders to start of the one-on-one loans. The company due to the method of operation led to the market crash of 1929. Despite the negative contribution, the company managed to overcome the negative image and continued to become a greater company with increased revenue and capital. The company engaged customers in making money leading to the development of a new strategy of operation, which created a chance for the company to raise more capital. The approach employed in the system was to create an investment company buys 90% shares. In buying 90% of the investment company shares, Goldman drives the share prices up, and because the shares have been bought by the company. In response, the buyers rush to buy the shares of the company which the Goldman sells at a price higher than the initial buying price. In such case, the company becomes a broker and has defied the honesty issue in business ethics. Goldman by conducting such businesses raises a lot of money. The money