Case Studies

The Institute welcomes readers to contribute to its online library of Financial Ethics Case Studies (FECS). The cases should be financial in scope and contain ethical issues. These issues should then be discussed and analyzed using one or more rigorous frameworks of Moral Philosophy. Remedies or policy recommendations are encouraged.  Please send case studies to:


  1. CETA: Free Trade for the Common Good
  2. Impact Investing: Big Society Capital
  3. Battle for the Soul of Bitcoin
  4. Wealth Inequality Workshop: A Video Documentary
  5. Philosophical Foundations of Impact Investing
  6. Mylan’s EpiPen Pricing Scandal
  7. Bitcoin: To Regulate or Not To Regulate?
  8. Argentina vs. the Hedge Funds: the 2014 Argentina Bond Default
  9. Crash Interventions: Shanghai Stock Market Case
  10. Case Study: Banca Monte dei Paschi di Siena
  11. Case Study: Iceland’s Banking Crisis
  12. Impact Investments: Good Profits?
  13. When Businessmen Rule The State
  14. Case Study: Deutsche Bank Money Laundering Scheme
  15. Ethics Analysis: The Panama Papers
  16. Wells Fargo Fake Accounts Scandal
  17. Ethics Analysis: Foreign Bribery Part 2: Trump Financial Ethics Watch Series
  18. Ethics Analysis: Trump’s Conflicts of Interest Part 1: Trump Financial Ethics Watch Series
  19. Ethics of US Student Loan Debt
  20. Pharmaceutical Industry Ethics
  21. The Valeant Pharmaceuticals Case
  22. Trade Adjustment Assistance and Game Theory
  23. Universal Basic Income: Empirical Studies
  24. Ethics of Universal Basic Income
  25. The Ethics of Tax Breaks on Bank Fines
  26. The Transparency Task Force
  27. 2008 Financial Crisis
  28. Review: The Big Short
  29. Ethics of Socially Responsible Funds
  30. Mitigating TBTF: The Australian Four Pillars Policy
  31. The Ethics of China’s Land Expropriation Rules and Reforms
  32. Necessity and The Minimum Wage
  33. Financing America’s Public Schools Ethically
  34. The Alchemy of the G-30 Report on Banking Conduct and Culture
  35. Has Bank Culture Changed to Ensure Ethical Behavior?
  36. More on the Ethics of Bitcoin
  37. Ferguson: A Financial Ethics Explanation
  38. Tax Systems: A Brief Ethical Discourse
  39. The Case of Goldman Sachs and 1MDB
  40. The Ethics of Bitcoin
  41. Ethical Issues of the Puerto Rico Debt Crisis
  42. Forex Scandal: The Ethics of Exchange Rate Manipulation
  43. Codes of Ethics for Financial Institutions
  44. Income Inequality Series
  45. Insider Trading Cases
  46. Taxation Cases
  47. India Series
  48. Asian Cases
  49. Global Financial Leaders Insist on the Necessity of Financial Ethics
  50. JPMorgan: Code of Ethics and Revisions Since the 2008 Financial Crisis
  51. Goldman Sachs: Code of Ethics Post 2008
  52. Trans-Pacific Partnership: Common Good or Corporate Good?
  53. China and Corruption: The Case of GlaxoSmithKline
  54. Ethics and Trickle Down Economics: A Case Study of Kansas
  55. Community Banking: The Case of The Bank of Prairie Village
  56. Greek Debt Crisis: The EU Should Learn from UAE
  57. The Ethics of Executive Compensation: A Matter of Duty
  58. The Ethics of Swiss National Bank’s Currency Intervention
  59. Credit Default Swaps: An Update
  60. Profit and Ethics in Short Selling: The Case of Muddy Waters
  61. The Fall of Anglo Irish Bank
  62. Corporate Fraud in India: Case Studies of Sahara and Saradha
  63. Corporate Disasters in India: Bhopal, Uphaar and AMRI Hospital
  64. Hong Kong: Economic Freedom Belies Crony Capitalism
  65. An Ethical Analysis of the 2014 FIFA World Cup in Brazil
  66. Cross Border Securities Enforcement: The Case of Tiger Asia Management, LLC
  67. The Effectiveness and Ethics of Economic Sanctions
  68. The Vatican Bank: Conforming to Caritas in Veritate?
  69. Policy and Poverty: US, UK and China
  70. Cheung Kong and the Apex Horizon Hotel
  71. Chinese Investments in Africa: The Ethics of Transparency
  72. The Bangladeshi Factory Collapse: A Case for Intervention and Policy Change
  73. The LIBOR Scandal and Reform Agenda: Can We Trust These Rates Again?
  74. What Should We Charge the Poor: Ethics in Microfinance
  75. Shining a Light on Dark Pools
  76. The EU Financial Transaction Tax Debate
  77. HSBC Money Laundering Case: “Too Big to Fail” does not mean “Too Big to Jail”
  78. Quantitative Easing and Income Inequality
  79. Bank of America’s Takeover of Merrill Lynch
  80. Insider Trading in Japan: The Nomura Case
  81. Private Equity Funds: Christian Ethics and Leveraged Buyout Funding
  82. The FSA vs. David Einhorn: A Case of Regulatory Overreach?
  83. Nationalization: Argentina vs. Spain, The YPF Repsol Case
  84. Jon Corzine and MF Global
  85. Dimon and the Whale
  86. The Ethics of Taxation Trilogy: Part I – An Ethical Analysis of Inheritance Tax
  87. The Ethics of Taxation Trilogy: Part II – The Buffett Rule: The Ethics of a Millionaire’s Tax
  88. The Ethics of Taxation Trilogy: Part III – Carried Interest and Taxing Private Equity
  89. Taiwan’s Asset Management Corporations
  90. Insider Trading: What Would Rawls Do?
  91. The Dearth of Ethics and the Death of Lehman Brothers
  92. Financing, Ethics, and the Brazilian Olympics
  93. Islamic Finance
  94. Taiwan’s Credit Card Crisis
  95. The Accumulation of Greek Debt
  96. Goldman Sachs and the ABACUS deal
  97. High Frequency Trading
  98. Hedge Funds
  99. Disclosure: The Bernie Madoff Case
  100. Mark Cuban and Insider Trading
  101. IndyMac and the Office of Thrift Supervision
  102. Lehman Brothers and Repo Accounting
  103. Municipal Reinvestment Case
  104. Raj Rajaratnam and Insider Trading