Synopsis for a film review of Bad Boys One

Let us review the current credit crunch and how lack of CSR and ethics has contributed to irresponsible and greedy behavior contributed to the credit crunch

Irresponsible and greed behavior in the current crisis

CSR and business ethics encompass the framework under which business meet their moral obligation . However , we seem not to have learned from the scandals like Enron and others and in the last three years , our financial institutions have created yet another scandal of subprime mortgages that has precipitated to the current credit crunch . Turner (2008 ,

. 90 ) describes

credit crunch as a reduction in the availability of loans and credit . It can also be understood in terms of tightened conditions for obtaining loans from the lending institutions . It is generally marked by reduced credit for lending which his independent of rise of the interest rates . In most instances , a credit crunch is tied to tendency by lending institutions to invest in less risky areas (CentreRight , 2008 Birger , 2008 . This is accomplished at the expense of the medium size enterprises which are the backbone of many economies Based on the experience from the past credit crunches , it has been observed that credit crunch mostly result from a sustained period that is marked by careless inappropriate lending practices (Gross , 2008 This result of massive losses in the financial institutions and debts degenerate to bad debts . This further reduces the amount available to lend to other borrowers and consequently increase in the cost of accessing loans through increased interest rates (Budworth , 2008 . In the deteriorating situation , the rate of defaulting may increase and the financial institution becomes unable to lend due to accumulated losses Credit crunch also results from reduction in value of assets that have been previously over inflated . Therefore , it may be used to refer to the...