At the heart of the recent spate of financial scandals from Enron to Parmalat lies a yawning deficit in the ethical behaviour of bankers - so say some. Others argue that there is no role for ethics in finance beyond the requirements of the law. * Which view is right? * If ethics are important, is there a question bankers could ask themselves, before they consider a transaction, in order to judge the appropriateness of their behaviour?

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