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1960s Social Unrest
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1970s Defense Scandals and Corporate Cover-ups
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Lockheed Martin Bribe
1976, Lockheed Aircraft Corporation, largest US defense contractor at the time, admitted to spending $24 Million in bribes overseas. No one knows where the money went. See Academic Search Premier: The Lockheed Mystery (Contd.). (1976). Time, 108(11), 43. -
Foreign Corrupt Practices Act
This act was established for the purpose of making it unlawful for individuals and entities to make payments to government officials to assist in obtaining or retaining business.This Justice.gov article about FCPA is an informative link to legal definition of this Act. -
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1980s Redefining Social Contracts
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False Claims Act (Lincoln Law)
Strengthened protections on individuals who discover, and report, fraud in federally funded programs. These individuals are given protection from employers. Academic Search Premier Source: Darr, K. (1990). Hospitals and the False Claims Act Amendments of 1986. Hospital Topics, 68 (4), 4. -
Bribes and illegal contracting practices of late 1980s
The senator of the US used his position to protect someone involved in the Savings and Loan scandals in late 1980s. Read more about bribery at Ethics.org -
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1990s Globalization
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Federal Sentencing Guidelines for Organizations (FSGO)
Federal Sentencing Guidelines are set up to impose harsh penalties against organizations against organizations when their employees commit federal crimes. See also Guidelines -
Tobacco Company Failures
Tobacco Litigation The tobacco companies failed to act with reasonable care in making and marketing cigarettes, they failed to warn consumers of the risks of smoking cigarettes. -
CyberCrime
Cyber-crime – criminal acts using a computer or a network. Cyber Crime as it relates to business ethics concerns what you are doing on the internet when nobody is looking. Responsible social behavior on the internet. Read more at Cybercitzenship.org -
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Early 2000s Corporate Scandals
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Sarbanes Oxley Act SOX
The Sarbanes-Oxley Act (SOX) was passed in 2002. It was aimed at cleaning up corporate finance and reporting. SOX attempted to do this by requiring publicly traded companies to institute, document and certify new financial controls. Additionally, the enforcement of the law held corporate financial officers personally responsible. Academic Search Premier Article:
Montaña, J. (2007). The Sarbanes-Oxley Act: Five Years Later. Information Management Journal, 41(6), 48-53. -
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Late 2000s Housing Bubble and Financial Crisis
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Financial Crisis
The financial crisis of 2007-2008, was also know as the global financial crisis and 2008 financial crisis, is considered to be the worst financial crisis since the Great Depression. It resulted in the threat of total collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. See Sánchez, M. (2011). FINANCIAL CRISES: PREVENTION, CORRECTION, AND MONETARY POLICY. CATO Journal, 31(3), 521-534. -
Dodd Frank Act
Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.
ADMINISTRATIVE LAW - AGENCY DESIGN -- DODD-FRANK ACT CREATES THE CONSUMER FINANCIAL PROTECTION BUREAU - Dodd-Frank Act, Pub. L. No. 111-203, 124 Stat. 1376 (2010) (2011). Harvard Law Review, 124(8), 2123
