The former CEO of Countrywide Mortgage (now a part of Bank of America), offered favorable loans to members of Congress, Countrywide government regulators, and members of the board and officers of Fannie Mae, the quasi-government agency that bought Countrywide's mortgages in the secondary market. The loans were jumbo loans at below-market rates. Countrywide sold 90% of its mortgages to Fannie Mae
Congress was responsible for the creation, funding, and policies of Fannie Mae. The members of Congress who received the Fannie Mae favorable loans sat on House and Senate Banking Committees. Which of the following categories of ethical breaches, if any, applies to this practice?
a. Taking things that don't belong to you
b. Taking unfair advantage
c. Conflict of interest
d. All of the above apply
.C
You might also like to view...
The SEC requires publicly owned corporations to have their quarterly financial information reviewed by their independent auditors before it is issued, but does not require that the auditor's review report be included with the quarterly information, although many companies do include the auditor's report
a. True b. False Indicate whether the statement is true or false
In the body of your memo, the longer the paragraph, the more likely your audience will be to
A) Analyze the key points. B) Avoid reading. C) Read more carefully. D) None of the above.
What is meant by immunizing a bond portfolio?
What will be an ideal response?
List and describe briefly the various settlement options under life insurance contracts
What will be an ideal response?