Introduction
The recent financial disaster was not a natural disaster since it is something that could been prevented. As a result of these crisis, many people lost their jobs while others lost their houses due to foreclosure. Although the US economy is still recovering, many people are yet to recover from this crisis. Failure to apply business ethics by those in charge government and businesses resulted to this crisis (Burden, 2010, p.385).
Those people in authority had political, ethical and social responsibilities to avert the occurrence of the crisis.
Fed failure One of the main causes of the stormy 2008/2009 financial crisis is failure of the banking regulator to perform its regulating role. The banks ...