2. Geоrge is the sоn оf а well-known nаtionаl politician, and generally considered to be charismatic, optimistic, and generous to a fault. George has a MBA from the Harvard, and is involved in several business activities. He is a business partner with John R. and J. Paul in a wildcatter oil prospecting firm that engages in exploring and drilling for oil and natural gas. George is also a director of the board at the Lone Arranger Savings and Loan Association. As a member of the Board at Lone Arranger, George votes to approve sizable loans to John R. and J. Paul without disclosing to the other directors that he is in business with John R. and J.Paul. He also personally arranges for a $9,000,000.00 line of credit from Loan Arranger for a petroleum drilling venture in which he is a partner with John D. The venture fails, and both J. Paul and John R. default on their loans to Loan Arranger, which then causes Loan Arranger to become insolvent. Loan Arranger is seized by federal banking officials that liquidate its assets to pay off creditors and depositors. Loan Arranger is federally insured, which means that a large sum of tax money will be used to pay off depositors insured under federal programs. The shareholders of Loan Arranger essentially lose their investment money. Was George’s behavior as a director ethical? Discuss his conduct in view of several various ethical theories such as the so-called Television Test, Friedman’s ideas on corporate governance, deontological theories such as Kantian Theory, teleological Utilitarianism, and ethical relativism.