A worldwide recession of unusual breadth and depth is causing harm to many individuals and businesses. While the causes are complex, the recession got its start with failures in the subprime mortgage market. The process of creating such loans is complex and often includes securitization after loans are approved. The reasons for the subprime lending mess can be at least partly traced to decisions made by individual mortgage brokers and lending officers. These individuals had moral or ethical responsibilities because of their positions. An analysis of the rights and duties approach to ethics shows that some of these individuals failed in their moral duties and that their failure is partly to blame for the resulting harmful consequences.
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