Has your hometown community bank disappeared, absorbed by one of the mega banks? Looks like a cornerstone of our communities is fast disappearing. Since 1980 there has been a steady decline in their numbers, from approximately 18,000 in the late 1980’s to a little over 6,400 today (according to the Federal Deposit Insurance Company, FDIC)…. [Read More]
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Reflections of a Whistleblower – The Boom and Bust Cycles
n the Q&A session at the conclusion of my talk, a student asked me about the possibility of another financial crisis, and I told the class that there was no doubt in my mind that our country would be going into another financial crisis, although I could not predict the timing or circumstances involved.
Little did I know at the time that the second and third largest bank failures in our country’s history would be announced that weekend!
What Do We Need To Do To Increase Accountability?
The last several months’ impeachment trials and the media furor it generated has focused a spotlight on whistleblowing and raised much-needed awareness on this issue. The Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act of 2010 have provisions that were intended to prevent businesses from firing or demoting employees who reported fraudulent behavior to authorities…. [Read More]
So, What’s With CEO Pay???
Since the Business Roundtable announced its new purpose of business and de-emphasized the role of profits and long-term value to its shareholders, many articles have fostered the reasoning behind it, including my own. In fact, while their new purpose was praised by many, it also received criticism from others, including the Wall Street Journal. Most… [Read More]
So it’s about bank mergers, stupid!
The world’s largest bank merger in more than a decade has been proposed, and poses concerns many are saying we need to pay attention to. This proposed merger, with BB&T Corp purchasing SunTrust Banks Inc. for $28.2 billion combines two regional lending powerhouses and creates the sixth-largest U.S. retail bank in the U.S. This is… [Read More]
Should the Big Banks Be Nervous?
Will the new scrutiny House Financial Services Committee chairwoman Maxine Waters proposes prevent another financial crisis? Last week Ms. Waters pledged that this committee will keep an eye on the larger banks and pay closer attention to whether regulators were trying to weaken the safeguards and regulations enacted after the last financial crisis. What some… [Read More]
SERVANT LEADERSHIP in action.
Business Navigators is a unique business networking group dedicated to furthering the core values of servant leadership and trusted relationships through educational and charitable activities in the Dallas/Fort Worth community. Their philosophy is “To give is better than to receive.” They focus on “… what we can do as individuals and as an organization to… [Read More]
An About Face
There is something wrong with this picture! What are we missing here? And when will we try to hold politicians and government, not just bankers and investors, accountable? A recent Wall Street Journal article proclaims “Banks Get Kinder, Gentler Treatment Under Trump.” It points out that regulators are asking examiners to adopt a less aggressive… [Read More]
The Fed: Why They Must Engage Before It’s Too Late
In a recent NY Times article, Neil Irwin asks “What Will Cause the Next Recession?” He says, “The economic expansion in the United States celebrated its ninth birthday last month. If it survives another year, it will be the longest on record.” He challenges the status quo with, “But eventually something will kill it. The question is what, and… [Read More]
The Cycles of Boom and Bust – Do Regulations Help or Hurt?
Last week I spoke about a working paper, published by the International Monetary Fund this past January, which provides empirical support for the idea that large-scale deregulation generates a financial crisis. Brilliantly prepared by Jihad Dagher, Regulatory Cycles, Revisiting the Political Economy of Financial Crisis, is a thorough, well documented exploration of boom and bust cycles worldwide… [Read More]
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