Describe the level of ethical development the executives at Barclays demonstrated when manipulatingthe LIBOR interest rates.
The level of ethical development demonstrated by Barclays was preconventional morality at its lowest. Their actions were calculating, self-centered, and selfish [Lam16].
Their actions of manipulating low bank-to-bank rates made the LIBOR appear more stable than it actually was [Cen]. There was no evidence that proves the Barclays Bank had every intention to get away with the unethical decision and took the immediate reward without question.
Did Barclays Bank neglect social responsibility? What could they have done to be more socially responsible?
Barclays Bank had complete disregard for social responsibility which means they had no concern regarding society’s welfare [Lam16].
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