Scandals Research, Annotated Bibliography Example

Cohan, W. (2009). Is anyone going to jail for this? Fortune, 160(6), 88. Retrieved from http://web.ebscohost.com.ezproxy.apollolibrary.com/ehost/detail?vid=4&hid=111&sid=f2b0dbfd-39a3-4071-88f7-34e0d47093e2%40sessionmgr114&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=a9h&AN=44245679

In this article, Cohan describes the criminal consequences rising out of the Lehman Brothers and Bear Stearns incidents.  The author begins with the contention that the threats of criminal prosecution and prison are deterrents to illegal behavior.  In that so few people within these companies were held accountable, let alone punished, there is little incentive for other executives to play be the rules.  The author discounts statements by the perpetrator’s attorneys that “bad judgment in a volatile and unpredictable market” was at the root of the problem rather than outright criminal behavior.

Kaminski, R. (2009). Growing Countrywide Scandle sinking Dodd. Human Events, 65(28), 1-8. Retrieved from http://web.ebscohost.com.ezproxy.apollolibrary.com/ehost/detail?vid=7&hid=111&sid=f2b0dbfd-39a3-4071-88f7-34e0d47093e2%40sessionmgr114&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=a9h&AN=44767049

In this article, Kaminski examines the “Friends of Angelo” VIP program at Countrywide and its implications on the actions of Senator Chris Dodd, chairman of the Senate Banking Committee.  Senator Dodd accepted preferential treatment including special mortgage rates from Countrywide.  Notwithstanding assertions by Dodd that he neither knew Angelo Mozilo (former CEO of Countrywide), nor that he had received any special treatment, the author contends that “Dodd’s mortgage deal represents either illegal cronyism or inexcusable bad judgment, either of which should disqualify him from serving as chairman of the Senate Banking Committee the committee that has jurisdiction over the mortgage industry.”

Nordberg, D. (2008). Waste makes haste: Sarbanes-Oxley, competitiveness and teh subprime crisis. Journal of Financial Regulation and Compliance, 16(4), 356-383. doi:10.1108/13581980810918422

In this article, Nordberg criticizes the speed with which the Sarbanes-Oxley (SOX) law was drafted and enacted.  The writer contends that SOX was politically reactive legislation following the Enron and WorldCom debacles and was not thoroughly examined in terms of its content and potential affect on competitiveness.  The article examines the impetus of SOX and the history of how it was enacted.  The author contends that SOX essentially put a “straight jacket” on certain aspects of competitive trading, while not addressing the core issues that should have been addressed through regulation.  The end result of these oversights enabled the sub-prime mortgage disaster to occur.

Zibel, A. (2008, October 2). Fannie, Freddie disclose subpoenas, investigations. Buffalow Journal. Retrieved from www.buffalowjournal.com

In this article, Zibel describes the events leading up the seizure of Fannie Mae and Freddie Mac by the US Government before pouring billions of dollars into the organizations to “keep them afloat.”  The author also describes the allegations of fraud being investigated by the F.B.I.  The article also alludes to the “scrutiny” of Lehman Brothers and Countrywide that was happening at the time.