Mgt498 charfauros week2 Copyright 2013 Edward F. T. Charfauros. Reference, www.YourBlogorResume.net.

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Edward F. T. Charfauros, inspiring author, assists fellow students with their presentation for a successful grade. He also blogs upon his own inspiring blog, where you'll discover life changing stuff. Sign up for his blog by sending him an email~

Copyright 2013 Edward F. T. Charfauros. Reference, www.YourBlogorResume.net.

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Mgt498 charfauros week2 Copyright 2013 Edward F. T. Charfauros. Reference, www.YourBlogorResume.net.

  1. 1. Staying On Track with Strategy Management
  2. 2. • The role of business ethics • The role of social responsibility • Strategic planning • Considering stakeholder wants and needs • Bank of America overstepping ethical boundaries for stakeholder agendas • Taking preventative measures to avoid another situation • Summary • References • Question Session
  3. 3. • The principles and standards determining acceptable conduct within business organizations (Ferrell, Hirt, Hirt & Ferrell, 2000).
  4. 4. • An organization’s obligation toward maximizing its positive effect and minimizing its negative effect upon society (Ferrell, Hirt, Hirt & Ferrell, 2000).
  5. 5. • Goals • Issues • Organic strategic planning
  6. 6. • Organization • Organization management • Communities
  7. 7. • The unethical problem: Fraudulent Loans • Subprime loans • Subprime mortgage lenders • the Hustle • The lawsuit
  8. 8. • TARP (Department of the Treasury’s Troubled Asset Relief Program) • CFU (The Civil Frauds Unit) • Financial Fraud Enforcement Task Force
  9. 9. • Federal prosecutors sued Bank of America for selling fraudulent loans to Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation). • The Complaint seeks civil penalties under FIRREA, damages and penalties under the False Claims Act for over $1 billion in losses suffered by Fannie Mae and Freddie Mac for defaulted loans fraudulently sold by both COUNTRYWIDE and BANK OF AMERICA, resulting upon repaying taxpayers totaling $45 billion in TARP investment. • CFU (The Civil Frauds Unit) and Financial Fraud Enforcement Task Force established for preventive measures.
  10. 10. • Ferrell, O. C., Hirt, G. A., Hirt, G., & Ferrell, L. (2000). Business: A changing world . (7th ed.). ISBN: 0073511722. ISBN-13: 9780073511726: mcgraw-hill. Retrieved from http://highered.mcgraw- hill.com/sites/dl/free/0070921989/226745/ferrell_sampleCH02.pdf • Lo, P. (2012, 10 29). U.s. sues bank of america for $1 billion in bad mortgages. Retrieved from http://www.corpwatch.org/article.php? id=15792 • United States Department of Justice. (2012, 10 24). 2012e mae and freddie mac. Retrieved from http://www.justice.gov/usao/nys/pressreleases/October12/Bankof AmericanSuit.php

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