Ethics

Neal is a young, likeable, optimistic and generous son of a prominent public official. He has a masters degree in business and is the business partner of Ken and Bill in an oil drilling and exploration business. Neal also serves as a director on the board of the Bonanza Savings and Loan Association. while serving on the Bonanza Board, Neal also personally arranges for a $900,000 line of credit from Bonanza for an oil drilling venture in which he is a partner with Ken. The drilling venture is unsuccessful and Ken and Bill both default on their loans to Bonanza, which then causes the S&L to become insolvent. Bonanza is seized by federal banking officials, who then liquidate its assets to pay its creditors and depositors. Because Bonanza is federally insured, a substantial amount of tax money is also used to pay off depositors whose deposits are insured under federal programs. Bonanza shareholders lose their investment money, Was Neal’s conduct as a director of Bonanza ethical? Analyze his conduct in light of the following ethical theories.

A. Intuitionism and the “Television Test”

B. Milton Friedman’s ideas on corporate governance.

C. Deontological theories

D. Rule utilitarianism

E. Ethical relativism.

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