Watergate Scandal Essay

On August 4, 2009, the Securities and Exchange Commission (SEC) fined General Electric Company (GE), $50M for reporting false and misleading financial statements. The transactions occur were not in compliance with Generally Accepted Accounting Principles (GAAP). Furthermore, the four accounting violations occur in 2002 and continued through 2003. The SEC identified risks that uncovered four separate accounting violations, and GE corrected the last of the violations in 2008. The violations are as…

referring to it as the hole generated by Baninter. High executives of this bank were laundering money and setting an important part of the income that it perceived in deposits into an external system or a parallel bank that they had created. The scandal was huge and the damage to the economy was even bigger, this was all that could be seen or heard in the media all over the island. This was the biggest event since Dominican dictator Rafael Leonidas Trujillo "paid" the external debt in 1940,…

Enron, founded in 1985, due to the merge of two major gas pipeline companies, Houston Natural Gas and IterNorth, which was an Omaha based company (Ferrell, Fraedrich, & Ferrell, 2013). Ken Lay was the CEO of Houston Natural Gas, became Enron’s CEO and chairman within the next year that Enron was founded. Enron provided products and services that were related to electricity, natural gas, as well as communications for retailers as well as wholesalers. During the 90’s, Mr. Lay, along with Mr.…

deceiving the U.S. Government seemed like the best way to do it. Rep. Fred Upton spoke with Lou Dobbs on Fox News about the fact that the Energy & Commerce Committee had to subpoena the White House for internal documents concerning the Solyndra scandal after months of requesting the information makes it seem as though White House officials had something to hide. (energyandcommerce, 2011b) At an Oversight and Investigations Subcommittee hearing on September 23, 2011, Solyndra CEO Brian Harrison…

In 2012, JPMorgan Chase Company (that specializes in banking and financial services) has accidently reported the trading loss of $6 billion due the badly conceived trades of the company. Since the company had been quite well-controlled and profitable over years, the trading loss of $6 billion caused a lot of confusion in JPMorgan’s Central Investment Office. Later on, the investigators have found that the company has not lost $6 billion but this amount of money has been displayed due to the…

Hello Everyone, One of the experiences I could recall of such an incident involves the kind of small business my dad runs. My father started up his own ambulate transportation coming, which provided non-emergency ambulate services to wheel chair patients of all kind, especially medicaid patients. However, before he became his own boss, he worked as an ambulate driver, for an organization that was caught and prosecuted for fraud. The issue was that the manager or the owner of the organization…

Almost 16 years ago, in the year 1998, our loyal president, Bill Clinton, made headlines in nearly every newspaper across the nation: President Clinton had an affair with secretary, Monica Lewinsky. With the press pushing him into a corner, Clinton repeatedly denied such affairs, saying that he never had sex with that woman. Why? Why would he continue to deny the affair? Why would he commit such licentious actions in the first place? The answer is simple: incentives . He was driven to keep his…

and didn’t think they would become the biggest scandal of the money market nation. Enron was a growing company, over time it began to fall. It was a risky business due to poor money handling and decision making. Enron executives got greedy, the more the company was falling, they found anyway to line their pockets versus help the company. They used temporary accounting practice that led the company to its fall. Not one person involved in the scandal, would step up for what had went wrong.…

On August 17, 1998 President Bill Clinton delivered a speech to the American public addressing an inappropriate relationship with a former White House Intern, Monica Lewinsky. In comparison to Robert M. Eisingers “The Political Non-Apology” Clinton 's public apology has some of the characteristics of a full apology but, is predominantly a non-apology. Although, acknowledges the offense committed, he minimizes his offense throughout the speech and plays the victim card in attempts to…

enough, Enron had more contracts than any of its competitors and could predict future prices with great accuracy. Enron seemed to always have steady, high profits. Behind the scenes, however, there was much more to it. Starting with the Vahalla scandal, the board learned that Louis Borget and Tom Mastroeni were gambling beyond their limits, destroying trading reports, keeping two sets of books and manipulating accounting in order to give the appearance that Vahalla was earning steady profits.…