Ethical issues in Financial Companies Lending practices Research Paper

Ethical issues in Financial Companies Lending practices - Research Paper Example The overall wheel of development of humanity is almost entirely hinged on the decisions, policies, strategies, and plans of financial institutions. However, as these institutions continue to grow in relevance so does the problems of mankind. The almost direct relationship between the growth of financial institutions and the level of humanitarian crises and predicaments in different times and places underlie some fundamental truths of their complicity in these situations. The dual potential of the lending institutions to create both good and evil in same measure has placed these institutions under scrutiny by analysis’s and rights watchdogs for suspected complicity in the geopolitical, and environmental dilemma that have been witnessed in modern times (Weiss, 2005). Some of the crises that have dominated the global stage since the second half of the twentieth century include the spread of HIV/AIDS pandemic, global warming resulting from the green gas emissions, mechanization of the labor market which has led to job losses, wars and violent conflicts, several forms of environmental degradation, among other many situations. The process of creation of these situations has been made possible by the willful involvement of human beings working within structural organizations that spend millions of dollars to create these situations. The source of these money has been chiefly through lending from financial institutions. These institutions have knowingly given loans to questionable organizations even amid protests from activists regarding the ethical ends of the borrower’s missions. Moreover, these same lending institutions have sought every opportunity to merge, link up, or buy stakes in some of the organizations with disastrous missions around the globe. The bottom line of profits has often blinded the lending institutions from the horrible missions