Previous Case Summaries Flashcards

1
Q

Briefly describe the Goldman Sachs case

A

It was a banking case where they issued reports on their securities that were different from their actual securities

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2
Q

What does the SEC’s complaint against Goldman Sachs allege?

A

That John Paulson choose mortgage pools that were dogs, which would benefit both Paulson and Goldman

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3
Q

How did Ice-T describe the Cop Killer song?

A

Depicting despair and anger that is in American inner cities

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4
Q

Briefly describe the Ice-T and the Body Count album case

A

It was a freedom of speech case where they debated releasing the Cop Killer song due to controversial lyrics

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5
Q

What did university officials and administration do wrong in the Penn State case?

A

They acted inappropriately when knowledge of child abuse came to light

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6
Q

What is the ethical dilemma in the Penn State Case?

A

Should university officials report Sandusky’s actions to the state’s Department of Public Welfare

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7
Q

What is the ethical dilemma in the Guns case?

A

Should the government pass more gun regulations

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8
Q

Briefly describe the Fannie Mae case

A

It is a housing case where they fudged their numbers in order to get a commission earnings bonus

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9
Q

What is the ethical dilemma in the Rogues - Bad Apples or Bad Barrels case?

A

Should steps be taken to fix the internal control problem instead of just blaming it on rogue traders

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10
Q

Briefly describe the WorldCom case

A

It’s a earnings management case where they capitalized their ordinary expenses in order to boost earnings

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11
Q

Briefly describe the Enron case

A

It’s an earnings management case where they engaged in mark-to-market accounting

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12
Q

Briefly describe the Arthur Andersen case

A

It’s an obstruction of justice case where they started to shred documents related to Enron when they found out about the investigation

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13
Q

Briefly describe the HealthSouth case

A

It’s an earnings management case where they committed accounting fraud by fixing their numbers

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14
Q

Briefly describe the Tyco case

A

It’s an earnings management case where they misused goodwill, spring loading, the KELP Program, and payed for Kozlowski’s personal expenses

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