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Insider trading in capital market
Glaucon justice argument
Glaucon justice argument
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Mr. Martoma worked for a company who invested a large sum of money into some stock. Martoma received inside information from a pharmaceutical company stating that the company wasn’t doing so well. Martoma reported this classified information on a private phone to his boss, because he thought it couldn’t be traced. Mr. Martoma actions were discovered and he was found guilty of insider trading. According to Glaucon “Having given both to the just and the unjust power to do what they will, let us watch and see whither desire will lead them.” Mr. Martoma actions were influence by the hope of acquiring wealth, for himself and the company. “Man is just, not willingly or because he thinks that justice is any good to him individually, but of necessity,
“I do know that for the sympathy of one living being, I would make peace with all. I have love in me the likes of which you can scarcely imagine and rage the likes of which you would not believe. If I cannot satisfy the one, I will indulge the other.”
154, 956). This indicates two main points. Firstly, it speaks to the dangers of a conventional wisdom that is unwise in so far as it lacks the ability to sort out its own contradictions and to truly consider how the relationship between conventional laws and justice is a very complex relationship that needs to be articulated and sorted out for all its contradictions. Secondly, it points to the emergence of a discourse of hazardous individualism that emerges largely as a direct consequence of a collectivized political virtue that emphasizes the importance of restrain and justice, yet is unable to show the benefits the individual may incur from such virtues. Perhaps, this second point is made better evident towards the latter end of the interchange between the speeches. Consider, for example, how the unjust speech is able to promise those who follow its teachings positive and immediate pleasures, namely “boys, women, wine, relishes…” (p. 156, line 1001). Now consider how the just speech, speaking two lines before, simply celebrates the “ancient education” for the ways in which it “pitches [the singing of the sons] to the harmony of the fathers” and for “beating and trashing” those who seek to make any “modulations” (p. 154, lines 967-970). Finally, all the just speech is able to promise those
This is a classic statement that Hobbes himself could have possible uttered. For man is an awkward beast, driven by internal forces. The laws of nature. All men are equal and can perform equal acts of harm. Once harmed, he that who has been hurt will make attempts to revenge. Either in the name of just, duty, honor, or by any other word, it is an example of man conforming to his nature. To curb his nature by law is what the courts claim to be a stable society, Thomas Hobbes calls this a commonwealth under the Leviathan.
It is a middle ground between the best and the worst. The inclination of all is to do injustice without paying any price for that action, the worst is to suffer injustice without being able to take revenge (37). It follows then that justice becomes a mean between these two extreme scenarios. Most people will tend to value justice not because it is a good in itself but because they do not have the ability to do injustice without negative consequences. An individual that does possess the ability to practice injustice without consequence will therefore never willingly enter into agreement not to do injustice for the simple proclamation of not to suffer it. For a man such as this, that would be truly mad.
Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm (A&E Networks Television). Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications.
The first component is the desire to reprimand a person who has done wrong upon them. Humans, like animals, have self-defense mechanism. However, unlike animals, humans are capable of sympathy. Humans have a wider range of emotions. Therefore the need they feel for punishment onto the person who did them wrong depends on the severity of the act according to the “victim.” This brings us to the second point that talks about how certain rights are protected by law therefore punishable by law enforcement. Society must defend itself against those who disobey their laws in the interest of general utility among its people. The conservation of justice and of just laws preserves harmony and well being among human beings. As a result there is a very big utility interest in preserving and enforcing justice 's commands. Each person’s happiness must be held to the same standard of importance in order for this system to work. A rich man’s rights in the justice system must be no more important than the rights of the poorest man. Justice is meant to provide the overall greatest happiness to human beings. It is looking at the greater picture rather than individual
Throughout all of history, a just man has been considered an individual who lives a life of excellence. However, as time has progressed, so has the definition of a “life of excellence” itself. Thus, an individual who was considered just in the 5th century BCE would possess very different characteristics than a just man today, despite the fact that both were considered to be men who achieved areté: the life of excellence.
This case study is not about Ms. Stewart direct participation with illegal insider trading as the media had steered the public to believe. To begin, Ms. Stewart received a phone call from Ann Armstrong, her assistant, stating that Peter Bacanovic, her stockbroker, “thinks ImClone is going to start trading down.” (Arnold, Beauchamp, Bowie, 2013, p. 390) Although Ms. Stewart was not able to get a hold of Peter, she talked to his assistance, Douglas Faneuil,
Last but not least, injustice does not provide the most good for the most number of people. Just acts spawn other just acts just like unjust acts spawn other unjust acts. If everyone behaved unjustly, mankind would return to a state of nature (everyone is for themselves) which would be very unprofitable for the unjust individual due to a decreased likelihood of survival. An action is clearly unprofitable for the unjust individual if it would eventually create a hostile environment for him. Hence, one should set an example for others by living a just life which would create a better environment for him as well as for others.
Ivan Boesky pleaded guilty to the biggest insider-trading scheme discovered by the United States Securities and Exchange Commission (SEC). He made 200 million dollars by profiting from stock-price volatility on corporate mergers. What he actually did was cheat by using illegally obtained secret information about impending mergers to buy and sell stock before mergers became public knowledge/ Although insider trading is nothing new, the SEC knows it has become a threat to the public’s confidence, and they must enforce regulations to stop criminal activity. The SEC has put pressure on managers to regulate information leaks, promising strict legal enforcement if a business fails to police misuse of privileged employee information.
‘the greatest happiness of all those whose interest is in question is the right and proper, and only right and proper end of human action’
David Hume is considered a reputable and influential philosopher whose empirical approach provided a basis for a number of moral principles. Although the complexity of Hume’s expressive nature and intellectual thought is somewhat mindboggling to most readers, the importance of the account of justice can be seen as significant and of relevance to many values and morals in even today’s society. Hume’s discussion of moral virtues in his book An Enquiry Concerning the Principles of Morals addresses the importance of justice in terms that relate to its sole foundation and further exemplification of moral distinctions.
Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex, he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm. Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications.
For many years, dating back to the first birth of man there has been the ultimate question of what makes a man just. This question has been pondered by numerous great philosophers. The question is varied to answer because of a multitude of opinions due to the nature of human diversity. Whether or not there is an objective answer to the question still remains a mystery. Plato and Epicurus have both given their detailed opinions of what makes one just. Plato believes that justness is something that comes from a more internal location dealing with the soul this disagrees with the idea that Epicurus holds which is justness is more of a physical or external matter. In this paper I will prove that Plato's ideas on this subject are the more appropriate and more truthful.
This quote states that in all ‘nations and ages’ the principles formed through human nature have resulted in a set of universal rules. However, values are not objective, in order for a judgment to be supported, society needs to be able to relate to the vision, accept it and see why it would be a good value to support. Where Louis P. Pojman and James Fieser (1990) write “Humans obey these laws because they can perceive the laws inner reasonableness” it is being stated that society obey these universal laws because they can relate to the overall idea of the judgment. While this is true, there are still problems. Even if only a small majority of society were to disagree with a certain viewpoint, the likelihood of that value to be supported universally is small. ...