Case Studies

The Institute welcomes readers to contribute to its online library of Financial Ethics Case Studies (FECS). The cases should be financial in scope and contain ethical issues. These issues should then be discussed and analyzed using one or more rigorous frameworks of Moral Philosophy. Remedies or policy recommendations are encouraged.  Please send case studies to:


  1. Globalization, Wealth Inequality…then Protectionism
  2. Flooding the Swamp: The Case of Michael Catanzaro
  3. CETA: Free Trade for the Common Good
  4. Impact Investing: Big Society Capital
  5. Battle for the Soul of Bitcoin
  6. Wealth Inequality Workshop: A Video Documentary
  7. Philosophical Foundations of Impact Investing
  8. Mylan’s EpiPen Pricing Scandal
  9. Bitcoin: To Regulate or Not To Regulate?
  10. Argentina vs. the Hedge Funds: the 2014 Argentina Bond Default
  11. Crash Interventions: Shanghai Stock Market Case
  12. Case Study: Banca Monte dei Paschi di Siena
  13. Case Study: Iceland’s Banking Crisis
  14. Impact Investments: Good Profits?
  15. When Businessmen Rule The State
  16. Case Study: Deutsche Bank Money Laundering Scheme
  17. Ethics Analysis: The Panama Papers
  18. Wells Fargo Fake Accounts Scandal
  19. Ethics Analysis: Foreign Bribery Part 2: Trump Financial Ethics Watch Series
  20. Ethics Analysis: Trump’s Conflicts of Interest Part 1: Trump Financial Ethics Watch Series
  21. Ethics of US Student Loan Debt
  22. Pharmaceutical Industry Ethics
  23. The Valeant Pharmaceuticals Case
  24. Trade Adjustment Assistance and Game Theory
  25. Universal Basic Income: Empirical Studies
  26. Ethics of Universal Basic Income
  27. The Ethics of Tax Breaks on Bank Fines
  28. The Transparency Task Force
  29. 2008 Financial Crisis
  30. Review: The Big Short
  31. Ethics of Socially Responsible Funds
  32. Mitigating TBTF: The Australian Four Pillars Policy
  33. The Ethics of China’s Land Expropriation Rules and Reforms
  34. Necessity and The Minimum Wage
  35. Financing America’s Public Schools Ethically
  36. The Alchemy of the G-30 Report on Banking Conduct and Culture
  37. Has Bank Culture Changed to Ensure Ethical Behavior?
  38. More on the Ethics of Bitcoin
  39. Ferguson: A Financial Ethics Explanation
  40. Tax Systems: A Brief Ethical Discourse
  41. The Case of Goldman Sachs and 1MDB
  42. The Ethics of Bitcoin
  43. Ethical Issues of the Puerto Rico Debt Crisis
  44. Forex Scandal: The Ethics of Exchange Rate Manipulation
  45. Codes of Ethics for Financial Institutions
  46. Income Inequality Series
  47. Insider Trading Cases
  48. Taxation Cases
  49. India Series
  50. Asian Cases
  51. Global Financial Leaders Insist on the Necessity of Financial Ethics
  52. JPMorgan: Code of Ethics and Revisions Since the 2008 Financial Crisis
  53. Goldman Sachs: Code of Ethics Post 2008
  54. Trans-Pacific Partnership: Common Good or Corporate Good?
  55. China and Corruption: The Case of GlaxoSmithKline
  56. Ethics and Trickle Down Economics: A Case Study of Kansas
  57. Community Banking: The Case of The Bank of Prairie Village
  58. Greek Debt Crisis: The EU Should Learn from UAE
  59. The Ethics of Executive Compensation: A Matter of Duty
  60. The Ethics of Swiss National Bank’s Currency Intervention
  61. Credit Default Swaps: An Update
  62. Profit and Ethics in Short Selling: The Case of Muddy Waters
  63. The Fall of Anglo Irish Bank
  64. Corporate Fraud in India: Case Studies of Sahara and Saradha
  65. Corporate Disasters in India: Bhopal, Uphaar and AMRI Hospital
  66. Hong Kong: Economic Freedom Belies Crony Capitalism
  67. An Ethical Analysis of the 2014 FIFA World Cup in Brazil
  68. Cross Border Securities Enforcement: The Case of Tiger Asia Management, LLC
  69. The Effectiveness and Ethics of Economic Sanctions
  70. The Vatican Bank: Conforming to Caritas in Veritate?
  71. Policy and Poverty: US, UK and China
  72. Cheung Kong and the Apex Horizon Hotel
  73. Chinese Investments in Africa: The Ethics of Transparency
  74. The Bangladeshi Factory Collapse: A Case for Intervention and Policy Change
  75. The LIBOR Scandal and Reform Agenda: Can We Trust These Rates Again?
  76. What Should We Charge the Poor: Ethics in Microfinance
  77. Shining a Light on Dark Pools
  78. The EU Financial Transaction Tax Debate
  79. HSBC Money Laundering Case: “Too Big to Fail” does not mean “Too Big to Jail”
  80. Quantitative Easing and Income Inequality
  81. Bank of America’s Takeover of Merrill Lynch
  82. Insider Trading in Japan: The Nomura Case
  83. Private Equity Funds: Christian Ethics and Leveraged Buyout Funding
  84. The FSA vs. David Einhorn: A Case of Regulatory Overreach?
  85. Nationalization: Argentina vs. Spain, The YPF Repsol Case
  86. Jon Corzine and MF Global
  87. Dimon and the Whale
  88. The Ethics of Taxation Trilogy: Part I – An Ethical Analysis of Inheritance Tax
  89. The Ethics of Taxation Trilogy: Part II – The Buffett Rule: The Ethics of a Millionaire’s Tax
  90. The Ethics of Taxation Trilogy: Part III – Carried Interest and Taxing Private Equity
  91. Taiwan’s Asset Management Corporations
  92. Insider Trading: What Would Rawls Do?
  93. The Dearth of Ethics and the Death of Lehman Brothers
  94. Financing, Ethics, and the Brazilian Olympics
  95. Islamic Finance
  96. Taiwan’s Credit Card Crisis
  97. The Accumulation of Greek Debt
  98. Goldman Sachs and the ABACUS deal
  99. High Frequency Trading
  100. Hedge Funds
  101. Disclosure: The Bernie Madoff Case
  102. Mark Cuban and Insider Trading
  103. IndyMac and the Office of Thrift Supervision
  104. Lehman Brothers and Repo Accounting
  105. Municipal Reinvestment Case
  106. Raj Rajaratnam and Insider Trading