The stock market is up and we should all be celebrating. However before you pop open the champagne, let’s look at the real story. The stock buybacks driving the market used to be illegal because they manipulated the market. The stock market has been on a tear since 2009, rising to record levels, and optimism… [Read More]
Did We Learn Anything From the 2008 Financial Crisis?
Last year, fellow Bank Whistleblowers United colleague, Michael Winston, the Countrywide Whistleblower, and I, along with C.R. “Rusty” Cloutier, MidSouth Bankcorp. Inc, Founding President and CEO, and Rashad Abdel –Khalik, PhD. Professor of International Accounting at the University of Illinois, joined Dennis McCuistion; the host of the McCuistion Program for an insightful look at “What… [Read More]
If You Check the Box …You’ve Given Away Your Rights! But CFPB is Coming to the Rescue!
Every day, we sign up for programs, install smart phone apps, shop online and check the box that says we’ve read and agreed to the merchant’s terms. Yet, have you read them? And if you don’t check the box, you can’t “buy” the product so what choice is there? In that fine print though you… [Read More]
Is Wall Street a National Threat?
A sentence in a recent NY Times editorial captured my immediate attention: “But the American Public Is short of memory and naively susceptible to the siren song of snake oil.” In its first system-wide “all clear” since our last financial crisis, “the Federal Reserve announced last week that all of the nations’ big banks are… [Read More]
Respected Business Leaders Call Out for Ethics and Accountability!
And it’s about time…principles matter; in business and in our personal lives. For some time you’ve heard me rant on the lack of principles exhibited by many companies and the TBTF banks that endangered our economy in 2008; the lack of principles that eroded our financial systems and the fraud that resulted because of the lack of ethics and… [Read More]
Are Clawbacks and Shareholder Proposals Essential to Corporate Governance?
The recent Wells Fargo financial misdoings situation has focused much-needed attention once again on clawbacks, the forced return of pay and stock grants, and shareholders involvement in corporate guidance policies. The Wells Fargo’s board voted to claw back an additional $75 million in compensation from the bank’s former chief executive, John G. Stumpf, and its former head of community… [Read More]
FED UP… An Insider’s Take On Why The Federal Reserve Is Bad For America
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]
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