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This was a tough lesson to learn for AIG as it was the catalyst of salary limits on the entire investment and financial services industry.
Conclusion
AIG shows what happens when a company loses track of their core business of service and delivering value to customers. The unbalanced nature of AIG's ethical decision making nearly bankrupt the company yet when seen from a positive standpoint, they are an excellent example of why ethics needs to always be based on balanced, equitable decision making.
References
Bradford, M., Taylor, E., & Brazel, J.. (2010). Beyond Compliance: The Value of SOX. Strategic Finance, 91(11), 48-53.
Michael R. Crittenden, & John D. McKinnon. (2010, January 26). U.S. Opens Probe Into AIG's Payout to Partners. Wall Street Journal (Eastern Edition), p. C.1.
Amir Efrati, & Liam Pleven. (2008,...
SEC, Justice Scrutinize AIG on Swaps Accounting. Wall Street Journal (Eastern Edition), p. C.1.
Jakobson, L.. (2009, July). AIG Effect's Full Circle. Incentive, 183(7), 42-43.
Josephson, M. (2010) - Making ethical decisions. Josephson Institute of Ethics. Marina del Rey, CA. Retrieved May 25, 2010 from the World Wide Web:
http://www.josephsoninstitute.org/MED/medtoc.htm
Institute for Global Ethics (2010) - Global value, moral boundaries: A pilot survey. Camden, ME. Retrieved May 25, 2010 from the World Wide Web:
http://www.globalethics.org/
Harrington, S.. (2009). The FINANCIAL CRISIS, SYSTEMIC RISK, and the FUTURE of INSURANCE REGULATION. Journal of Risk and Insurance, 76(4), 785-819.
Curtis C. Verschoor. (2005). AIG Remediation Emphasizes Compliance, but not Ethics. Strategic Finance, 87(3), 17-18.
References
Bradford, M., Taylor, E., & Brazel, J.. (2010). Beyond Compliance: The Value of SOX. Strategic Finance, 91(11), 48-53.
Michael R. Crittenden, & John D. McKinnon. (2010, January 26). U.S. Opens Probe Into AIG's Payout to Partners. Wall Street Journal (Eastern Edition), p. C.1.
Amir Efrati, & Liam Pleven. (2008, June 6). SEC, Justice Scrutinize AIG on Swaps Accounting. Wall Street Journal (Eastern Edition), p. C.1.
Jakobson, L.. (2009, July). AIG Effect's Full Circle. Incentive, 183(7), 42-43.
http://www.josephsoninstitute.org/MED/medtoc.htm
http://www.globalethics.org/
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