Ethical Issues of the Puerto Rico Debt Crisis

December 23rd, 2015 by Kara in Case Studies

By: Audrey Zhang With $73 billion in debt, Puerto Rico defaulted for the first time in its history on August 3rd. How ethical was Congress’s response to the call from a land that has been U.S. territory for over a century? Puerto Rico’s Special Status The Commonwealth of Puerto Rico is a United States territory that includes the main island of Puerto Rico and a number of smaller islands. Originally claimed by the Spaniards, the island was ceded to the United States under terms of the Treaty of Paris in 1898 after the ...

Forex Scandal: The Ethics of Exchange Rate Manipulation

December 8th, 2015 by Kara in Case Studies

By: Audrey Zhang In November, 2014, five major banking groups wrapped up joint settlement talks with U.S., British, and Swiss regulators over the forex manipulation scandal. The banks—UBS, JPMorgan, Citigroup, RBS, and HSBC, were charged with manipulating foreign exchange rates. This study explains in-depth how these banks manipulated currency exchange rates over the past decade, as well as the economic and moral implications for the rest of the global economy. The Forex Market The Forex market is a twenty-four hour market in which traders buy, sell, exchange, and speculate on different currencies. This extremely ...