My friend and Bank Whistleblowers United co-founder and colleague William K. Black (Bill) author of The Best Way to Rob a Bank is to Own One, recently wrote an article talking about the “ideal director traits,” a summary of which had been published in the Wall Street Journal. The ”desired director traits” are based on a survey… [Read More]
A Case Study on Enron: How to Destroy a Company!
One of the most celebrated companies in America, Enron, became the poster child for greed and fraud. Today it is a case study for how quickly a bad corporate culture can sink a business. WNET, which is the flagship public station of the New York City tri-state area, and the most watched public television channel in the… [Read More]
Audit the Fed? Maybe this time it will happen.
Senator Rand Paul and Representative Thomas Massie have re-introduced a bill in Congress to audit the Federal Reserve. The Federal Reserve Transparency Act of 2017 would require that the Government Accountability Office (GAO) “conduct a thorough audit of the Federal Reserve’s Board of Governors and reserve banks within one year of the bill’s passage.” Rep. Massie… [Read More]
The Clock is Ticking… Will Snowden be Pardoned by President Obama?
There is heated debate as to whether Edward Snowden should be pardoned or not with protagonists and adversaries making a strong case for and against clemency. There is some historical precedent for presidents granting clemency in leak-related cases. In the past, presidents have made a splash with clemency on their way out. However, President Obama says… [Read More]
A Tale of Two Whistleblowers according to Malcolm Gladwell
Definition: A whistleblower is a person, who could be an employee of a company or a government agency, disclosing information to the public or some higher authority about any wrongdoing, which could be in the form of fraud, corruption, etc. An employee who alleges wrongdoing by his or her employer of the sort that violates… [Read More]
My Wishlist For 2017
Wishing you a prosperous and healthy year! My thanks and wish list for 2017: Family and friends. Fervent hope that a new awareness of ethics and ethical behavior will begin to be encouraged by more in the corporate world. The Government Accountability Project for their tireless efforts to represent and protect whistleblowers everywhere, with notable… [Read More]
Does Whistleblowing Pay? New Study Says Yes!
There’s a high cost to being a whistleblower. As my Bank Whistleblowers United colleagues and I can attest to, being a whistleblower means losing your job and most future possibilities of getting another position in your profession are slim to none; not to mention the human cost of the stress and emotion involved and the personal… [Read More]
Is Wall Street Taking Over Trump’s Cabinet? Will It Impact Accountability?
The December 10th issue of The Economist said, “The emerging Trump strategy towards business has some promising elements, but others that are deeply troubling.” I agree. In his campaign, Mr. Trump slammed Wall Street and Goldman Sachs, however his actions seem to bely his previous position. From the early days of his campaign, one of Donald Trump’s… [Read More]
Fannie and Freddie — We Need to Look Before We Leap!
“We’ve got to get Fannie and Freddie out of government ownership. It makes no sense that these are owned by the government and have been controlled by the government for as long as they have,” stated Steven Mnuchin, President-Elect Trump’s pick for the U.S. Treasury Secretary. Wait — let’s take a closer look first. I… [Read More]
Fed’s Kashkari Releases Plan to End “Too Big To Fail,” Compares Banks to Terrorists
(title per ZeroHedge) When Neel Kashkari, a former Goldman Sachs banker who helped administer the U.S. Treasury Department’s bailout program during the 2008 financial crisis, was appointed as President of the Minneapolis Federal Reserve Bank, I commented on his intent to break up the big Wall Street banks as either too good to be true, or… [Read More]
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