Here's an article of interest. All of us should be paying attention of course to the global financial crisis, especially in terms of large corporations that are desperate for their governments to bail them out in order to save their existence - and therefore thousands of jobs.
An industrial corporation in Germany, The Schaeffler Group, has recently had their bailout request rejected by German Chancellor Angela Merkel. It seems they were the architects of an ambitious hostile takeover shortly before the markets crashing last year. In the aftermath of this news, there are now allegations of the Group's profiting directly from the gassing of Jews at the infamous Auschwitz concentration camp during World War II.
While no doubt an extreme case, this is arguably an example of the irresponsible behaviour of global corporations and their roles in the current crisis. How do we feel ethically about their demands for bailouts and assistance to save their operations? Regardless of your response to that first question, are the threats of astronomical job loss and further economic recession ransoming us to accept these bailouts as necessary evil? Lastly, what about the Schaeffler Group? If these allegations are true, what kinds of penalties are appropriate? Must we hold Maria-Elisabeth Schaeffler accountable to the sins of her fore bearers?
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