Pryor to acting director Mick Mulvaney’s appointment to the Consumer Financial Protection Bureau, Mr. Mulvaney had called the CFPB a “sad, sick joke” and called for an overhaul of the agency, including curtailing its budget. Well, it looks as if Mr. Mulvaney is fulfilling his promises, even to demoting the “Consumer” in the Consumer Financial… [Read More]
What do Lehman Brothers, Enron, and Citigroup Have in Common?
What did WorldCom, Lehman Brothers, Bear Stearns, Washington Mutual, Enron, Tyco, HealthSouth, AIG, and many other well known companies have in common? In the last decade-and-a-half, we have seen some of the biggest accounting scandals in history. This last week, I had the privilege of speaking to the Texas Association of College and University Auditors,… [Read More]
Finally! There’s a Corporate Ethics Revolution Going On – PwC CEO Survey Results
In his 2018 letter which accompanied PricewaterhouseCoopers’ (PwC) 2018 CEO survey, Bob Moritz, the company’s international chairman recommended several thing’s CEO’s must do if they are to survive in this century. For the last 20 years, PwC has conducted an annual survey of 1293 CEO’s in 85 countries. • 40% of these companies had revenues of $1 billion… [Read More]
Do Financial Regulations Actually Work Or Are We Kidding Ourselves!?
In the last 10 years, the collapse of so many of our financial institutions and the subsequent bailouts prompted the passing of regulations that many hoped would cure further bank and corporate mishaps and prevent scandals and fraud. Yet did they? An article by three professors, Luzi Hail, PhD., the Wharton School, Ahmed Tahoun, PhD., … [Read More]
What do Edward Snowden, Frank Serpico, Daniel Ellsberg, and Richard Bowen Have in Common?
What an honor! A collaboration between the Society of Professional Journalists and the Government Accountability Project, The Whistleblower Project, which focuses on journalism and democracy, just announced one of their initiatives, 25 Times Whistleblowers Changed History, and I am named as one of the whistleblowers they feature. Some of the best known, Sherron Watkins of Enron, Daniel Ellsberg of… [Read More]
Warning Danger Ahead! Whistleblower Options Are Being Shut Down!
The title of an article in Just Security, “New Ruling Shows How Few Options There Are for Intelligence Community Whistleblowers” captured my attention and made me read and cringe with every word I read. The writer is Irvin McCullough, an investigator for the Government Accountability Project (GAP), the leading whistleblower protection and advocacy organization, which… [Read More]
Robin Hood and the Too Big To Fail! Is He Too Late to Help on the Crapo Bill?
Legend has it that Robin Hood, a former archer for Richard the Lionheart, took on the Sherriff of Nottingham, whose autocracy and exorbitant taxation of the town’s citizens were crippling the economy. Robin Hood went on to gain fame for fighting injustices imposed by the rich on the poor. However, in this present scenario –… [Read More]
Ethics Rule: Achieving the Gold Standard
The CFA (Chartered Financial Analyst) Texas Investor Summit, sponsored by the CFA Society of Dallas-Fort Worth and the CFA Societies of Texas, was held in Dallas this past week and featured Robert S. Kaplan, President & CEO of the Federal Reserve Bank of Dallas, and Robert Jenkins, London School of Economics and a member of the… [Read More]
The Intelligence Community Inspector General’s Office Has Run Amok!
The Intelligence Community Inspector General’s Office (IC IG), the office which serves as the Intelligence Community central watchdog over the intelligence agencies (including CIA and NSA), has had serious issues for some time. Just this last fall, I commented that it appears the office was not able to do its job because of the varied… [Read More]
Should We Ban Stock Buybacks – Or, Are They a Good Economic Stimulus?
The Trump administration tax windfall has released billions of dollars into the economy. This windfall has caused more than a few major companies to announce that at least some of this tax money will be used to build much-needed infrastructure, increase employee wages and allow for employee bonuses. Overall it looks as if the economy… [Read More]
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