Peter Is an 84-Year-Old with a Heart Condition

question 47

Essay

Peter is an 84-year-old with a heart condition. He has no family and minimal health insurance. He is on a fixed income and barely has enough money to survive. His doctor tells him that he needs to take a particular medicine for three months or his condition will severely worsen. The medicine will cost $450 and only $150 of the cost is covered by insurance. Peter goes to the bank and hands the teller a note saying, "Give me $300.00 or I'll detonate a bomb." When Peter is later apprehended, he told the police that he stole the money to buy needed medicine. Understanding that bank robbery is a crime, is there an ethical theory that can serve to justify Peter's actions?

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Definitions:

Firm Commitment Underwriting

A method of underwriting where the underwriter commits to buying all the securities from the issuer and selling them to investors, assuming full financial responsibility for any unsold securities.

Underwriting Spread

The difference between the price at which investment bankers buy an issuance from the issuer and the price at which they sell it to the public.

Shares

Shares are portions of equity within a corporation or financial asset, offering a right to proportional dividends when profits are declared.

Dutch Auction

is a bidding strategy where the price of an item is lowered until it gets a bid, the first bid made is the winning offer.