The topic of the paper is recent (within 30 years) incidences of corporate or banking scandals (e.g., accounting fraud, trading fraud, mortgage fraud, etc) happened in U.S. (or international) companies (e.g., Enron, Worldcom, Tyco, ImClone, Adelphia, and Global Crossing, and others) or financial institutions (e.g., Goldman Sachs, Washington Mutual, AIG, Barclays, UBS, Deutsche, and others). These high-profile scandals, especially in light of the financial crisis of 2007-2009, have profoundly changed the U.S. (and international) corporate governance landscape and banking systems.

In the paper, you are expected to:

  1. Have a brief description of the corporate/banking scandal happened to a particular company (or companies).
  2. Tie it back to what we have discussed in the class to try to understand the source of those scandals (e.g., separation of ownership and management for corporations).
  3. Offer your ownopinions regarding how to prevent these scandals in the future.

The paper should be 3 to 4 pages long (excluding cover page and reference page), with 1.5 line spacing, and font size no larger than 12pt. Reference page is required.