Ethics has been broadly defined as concerning certain issues or situations as being fair/unfair, right/wrong, or just/unjust according to the values adopted by a given culture or society. These values act as the acceptable standards developed and nurtured by society. As societies have developed and become more knowledge-oriented and socially alert, the need for social responsibility has increased. According to Davis and Blomstrom (1975), social responsibility is "the obligation of decision makers to take actions which protect and improve the welfare of society as a whole along with their own interests" (p. 39).
Many banking organizations have been "bailed out" by the federal government, but yet they have been caught spending these additional funds/monies on items that may not be acceptable by public policy or federal regulations. As a result, the federal government has had to rethink and reevaluate their approach to the administration of these funds. In an Internet search of ethics and recent federal bail outs of several banking/financial institutions, please provide the following items of discussion:
1. A historical overview of the reasoning for the federal bailout of these financial institutions and reasons for such federal infusion of these external funds.
2. A discussion of the ethical implications that have surfaced in the media concerning the misuse and/or abuse of federal funds distributed to several key banking/financial institutions.
3. An examination of the ethical issues surrounding the misuse and/or abuse of this federal funding in terms of the following perspectives:
a) federal government;
b) private business sector; and
c) public in general.
4. Finally, create a socially responsible plan for the federal government to use in the future administration of federal funding, with this same industry (banking), in order to prevent such misuse and abuse of federal funds in the future.
You will need to include in-text citations and a references list (APA) for external references used in supporting your points for this question. You should have no fewer than 7 references for your response to this particular question.