JPMorgan Chase Greed Goes Up

California Baptist University 

News Analysis: JPMorgan Chase Greed goes up

BUS520 Section B Managerial Ethics

Dr. Jim Bishop

Daniel Garcia 

God calls men and women to participate in business. The work has an intrinsic value and how humans meet the ongoing mandate to subdue the earth.The Bible teaches that integrity is essential to the business; clearly shows that business should be conducted honestly.

Jamie Dimon JPMorgan Chase CEO, helped pressure Congress to pass a bill to allow the federal government to continue functioning throughout most of next year. The bill included an issue that was not related, allowing banks to resume trade in products derived from its branches with insured taxpayers. Years have passed since the collapse of Lehman Brothers triggered a global collapse. Never again would be allowed Wall Street to write the rulebook on its own. To some extent government ,cut the wings. Big banks lobbied hard to change paragraphs Reform Act Dodd-Frank, 2010. In many cases failed. Hence, Washington now has a financial protection agency consumer. The Federal Reserve has imposed a cap on leverage ratios of Wall Street. Banks spend many types of derivatives through central clearing. Under the Volcker Rule transactions must maintain its own separate deposit business. Many of these reforms can be considered as progress particularly the leverage limits. The compliance departments of banks have grown a lot to keep up with a flood of regulations that few believe they can help lower the overall risk. The sequel of 2008 is in no way a simple story of Wall Street scamming. When the system collapsed in 2008, Washington did anything to hold it. Timothy Geithner, the first Treasury Secretary of president  Barack Obama, who ignored the Old Testament called fundamentalists demanding that the big banks were liquidated and their CEOs brought to trial. Geithner and his colleagues were making the rules as they advanced to prevent a collapse that had thrown the world into a depression. His patience was pragmatic. Unfortunately, they maintained long after the crisis had passed. The four major banks in our country are JPMorgan, Citibank, Bank of America and Wells Fargo they have 68 percent of US deposits and a higher percentage of participation in the US derivatives trading. The apologists believe that the crisis began with investment banks, rather than commercial. There has been no improvement in the culture of Wall Street. Markets work in psychological cycles that fear gives way to greed and then the hangover. Greed goes up again. No regulators that can predict the event. But they could do more to be ready when they arrive. The spending bill containing another point that has nothing to do with keeping the government running. This increases the limit of what an individual can donate to a political party now over $ 700,000.The idea that someone can do well financially and also benefit the community is relatively new, which arose as a result of capitalism, a system that can not function properly without proper ethical foundation.  

On several occasions we have heard that the love of money is the root of all evil , not the mere possession of wealth, and unfortunately so is .  I as a Christian  know that God condemns greed. Today more than ever, greed motivates most of the unethical behavior, not only in our country this issue is all around the world. The Bible is clear about it, a vice that must be abandoned when the person puts their faith in Christ Jesus . The command to do justice , to love mercy , and walk humbly with God , applies to businesses and states that should be governed by the principles of justice , love and humility. Ethics therefore becomes desirable that holds the value of companies translated their brands . Company reputation is none other things than the result of the alignment of ways of doing, behave, think, say , with the ethical values of the company and the brand promise holds .

News Source: Bloomberg 

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