Danielle DiMartino Booth’s book FED Up is an insider’s take on why our Federal Reserve System is deeply flawed and requires major change. It is an interesting and disturbing read into the working of the Fed by one who’s been there and understands the system. I was deeply disturbed by some of her observations, most especially on… [Read More]
Why Is the Fed Ignoring What Goldman Sachs Is Up To Now?
“Who’s Watching Wall Street? The Feds Turn a Blind Eye,” states David Dayen in a recent Fiscal Times article. It looks as if Goldman Sachs is on a shopping spree, spending $500 million plus or minus to buy 12 percent of Riverstone Holdings, a private equity firm. They’ve also acquired stakes in private equity players… [Read More]
Culture Is the Way We Do Things Here
“Culture is in fact the basis of an organization and it absolutely influences people’s day to day behavior,” comments Veronica Melian in an article originally published in Deloitte’s “Directors’ Alert 2017: Courage Under Fire: Embracing Disruption.” She says, “Organizations have traditionally devoted considerable time and effort to developing sophisticated strategies to capitalize on market opportunities and mitigate market… [Read More]
Whistleblower Program Wins Telly Award
The McCuistion television program, Whistleblowers: Who They Are and Why You Should Care, in which Michael Winston, William (Bill) Black, and I appeared last year, has been selected as a Telly Award winner. The Telly Awards is a widely known and highly respected national and international competition with awards based on overall production excellence, including… [Read More]
The White House Flouts Ethics Rules
“The White House just used a brazen back door move to bypass the Senate”… read the headlines of a recent Vanity Fair article regarding the appointment of Keith A. Noreika as the Acting Comptroller of the Currency, which makes Mr. Norieka the administrator of the federal banking system and acting head of the Office of the Comptroller of… [Read More]
The Ethics Merry Go Round
The McCuistion program, which airs in Dallas/Fort Worth on PBS station KERA, recently re-aired its program, Ethics and Transparency as Antidotes to Financial Fraud. Host Dennis McCuistion asked the guests what ethics and the lack of transparency may have done to contribute to the 2008 financial crisis? One of his guests, Marianne Jennings, J.D.: Professor… [Read More]
It’s available! “Business Ethics Lessons Learned…A Citigroup Whistleblower’s Perspective” – Now At Amazon
The 2008 financial crisis, the worst in our history and the egregious fraud, greed and corruption which led to it, impacted not just the banking world but businesses and individuals worldwide. And, it could well have easily been prevented if best business practices had been followed. For the last two years, my team and I… [Read More]
They’re Back! Fannie and Freddie Ride Again
It looks as if Fannie Mae and Freddie Mac have not learned from their previous enabling of banks leading to the financial crisis. In fact, it looks as if the two are still using the same business model; they are lowering even further their underwriting standards to allow loans to be underwritten, ignoring student, credit… [Read More]
Is the Fed Really Interested In Protecting Consumers or Is It just Lip Service?
Eric Ben Artzi … is a former risk officer at Deutsche Bank. Mr. Ben-Artzi was one of three former Deutsche Bank employees turned whistleblowers who in 2010-2011 notified regulators of improper accounting at Deutsche. What was discovered resulted in a five-year investigation and a $55 million settlement between Deutsche Bank and the SEC. While Mr. Ben-Artzi was… [Read More]
Barclays Bank Gets Its Hands Slapped… and What Does That Change!!!??
Is getting its hands slapped a strong enough message? The latest in the bad bank sagas has the British bank, Barclays, red-faced. As it should. CEO Jes Staley has been reprimanded for attempting to discover the identity of an internal company whistleblower. Mr. Staley stated that he was trying to protect a colleague from what… [Read More]
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