I: From the Past
The key players in this scenario are US Prime, a mortgage bank, Liberty Bank, which is an investment bank and mortgagees. The good thing is subjective to whom it benefits since the offers mortgages to customers earning Dan a commission and Barb who is the owner. In the event mortgagees fail to pay their loans, the mortgage bank does not take ownership of foreclosed homes. However, it sells bundled debts as to the investment bank who under government policies use these debt holdings as securities which give them more money to invest. Moral values upheld can be described by Dan, who urges his employer to seize selling high-risk mortgages to people who in the long run, cannot afford to repay them. This ethical approach in business is a standard that shows morality and humanity but is not advised since it is a money-losing idea, as Barb explains. Personal habits of taking up loans they cannot repay on the part of mortgagees is what drives this business cycle. The situation maintains or improves when payments are not kept up, which Dan describes as a third of his mortgagees. Participants open to learning to avoid taking high-risk mortgages and engage banks for loans within their means of lifestyle and repayment.
II: To the Future
The best outcome from the described scenario can be foreseen as a continued business from all the banking institutions as people will continue to apply for mortgages both high-risk and low-risk. Situations will become harder for mortgagees and better for banks and their employees who earn commissions, profits and securities to invest more. Faith-based principles in the trial are empathy, humanity and compassion. Banks should not take advantage of desperate individuals by offering high-risk loans and mortgages that cannot be repaid in the long run. The conversation should be on advising people to take loans within their means, and banks should not offer loans to individuals beyond their repayment capabilities. The conversation should be enforced as a government policy that aims at safeguarding the interest of loans and mortgagees while allowing banks to do business still ethically.
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III: Dialectic
A new perspective evident in the scenario would be handling ethical and moral concerns with everyday obligations. Dan has displayed how he cares for his clients and does not want his employer to take advantage of them. His stand is so steady that he looks for another job to avoid participating in what he considers unjust. However, having no luck in securing new employment as per his expertise, he chooses to take care of his financial needs over caring about the financial well-being of his clients. The needs advise this decision of himself and his family.
