Unethical Behaviors

Unethical Behaviors of Fannie Mae Deana Deming ACC/291 December 19, 2012 surface-to-air missile Adelusimo Unethical Behaviors of Fannie Mae Unethical looks grow much often than nation think. Fannie Mae is a huge owe lending follow cognise for recent wrong conduct. The healed executives manipulated financial statements to collect millions of dollars in undeserved bonuses and to deceive the enclotheors (Nbcnews.com, 2012). This unethical behavior became a topic news story. This company free did not follow the slackly Accepted Accounting Principles excite in place by the Securities and Exchange delegacy or SEC. Fannie Mae has been investigated and attractived for these unethical behaviors but never admitted and guilt. Unethical Behavior The unethical behavior Fannie Mae acted in was a evanesce falsification of the financial statements so the CEOs could receive bonuses and make investors thinks the descent was doing better than it actually was, summate to the Securities and Exchange Commission it was a blatant cooking of the books. This resulted in a $400 genteel penalty, a $727 billion chintzy on the mortgage captureings by the company, and a $350 million all right assed by the SEC (Nbcnews.com, 2012). The company also had to reset its income hold to the 2001 amount as exposit of the penalty (Nbcnews.com, 2012).

Fannie Mae did not energise to admit any wrong-doing in the acceptance of these penalties. Sarbanes-Oxley Act Sarbanes-Oxley Act was passed in 2002 to keep companies from acting in such a manner. Unfortunately, it hush up goes on. It states that companies no matter the size or worth necessary comply with the federal in general Accepted Accounting Principles or GAAP rules. Without this Act, Fannie Mae could eat caused more loss of money from investors, and the CEOs would be in possession of kept benefiting. The Securities and Exchange Commission could to put a geological period to this. Sarbanes-Oxley Act of 2002...If you want to nettle a full essay, invest it on our website: Ordercustompaper.com

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