What steps taken since to prevent such unethical behaviour

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Financial Risk Management Assignment -

One of the most infamous conflicts of interest, the so-called Abacus 2007-AC1, involved Goldman Sachs, an investment bank. Goldman realised that many of the Credit Default Obligations in its portfolio became toxic due to a deteriorating mortgage market, and decided to advise its clients to buy these toxic assets. To do so, the bank severely misled its clients about the quality of the investment.

To make matters even worse, shortly after offloading the CDOs, Goldman sold the CDOs short, effectively betting on their price to collapse. The case was settled for more than half a billion USD in 2010.

Research this case further and critically analyse what motivated Goldman Sachs to act in such a way, and explain what steps have been taken since to prevent such unethical behaviour from being repeated (500 words minimum).

(Note: use academic resources, such as journals, and respectable financial newspapers (Financial Times, The Economist, Wall Street Journal) in your research.

Reference no: EM132233927

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len2233927

2/13/2019 9:35:51 PM

Need 2 Pages. Note: use academic resources, such as journals, and respectable financial newspapers (Financial Times, The Economist, Wall Street Journal) in your research. Please be sure to reference your sources in appropriate Harvard formatting and to provide substantive evidence of any claims that you make. Where appropriate, include personal anecdotes, statistics, and references to additional reading or materials.

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