Over 450 educators were in my audience this last weekend when I addressed the members of the American Accounting Association Auditors Section, the largest community of accountants and auditors in academia, So what happened, I asked them? In the financial crisis, how was it possible that all of the large financial institutions that either failed or were bailed out… [Read More]
Really? A Badly Behaved Banker’s List?
There’s talk of a master list being created that would list Wall Street bankers who’ve run into ethical issues on the job. It could develop into a pretty long list. And then what next? Which other group would be targeted? Supposedly the purpose of this list would be to help companies avoid hiring the repeat… [Read More]
The Disappearing Derivatives … Mystery Solved?
With everything going on with Wall Street you may have missed a Reuters article by Charles Levinson that talked of hundreds of billions of dollars of trades by U.S. banks which went missing early last year. Has the mystery of these disappearing derivatives been solved? Well, maybe. It seems the trades had not really disappeared, they’d just… [Read More]
It’s a New Year With Hope for the Large Banks! (?)
It’s a brand new year! And, this means new beginnings and hope for us all personally and perhaps for the direction our country is moving towards. After all, a new year and new beginnings does signify hope so being optimistic is a good thing, isn’t it? I was feeling hopeful the financial services industry was… [Read More]
7 Reasons to Be Grateful This Holiday Season
There are many more than 7 reasons to be grateful this holiday season. Let me share my list with you and perhaps you will add many more of your own: 1. The Fed has finally raised the rates – a much needed step in the right direction . 2. The Government Accountability Project in making… [Read More]
Bank of America Finally Gets a Clean “Stress” Test — After 3 Attempts!
Bank of America finally won approval from the Fed for its resubmitted stress test, which allows the bank to continue paying their shareholders a 5- cent a share quarterly dividend and to buy back its own stock. If the bank had not passed this resubmitted stress test, the Fed could have forced the bank to… [Read More]
The Goldman Sachs Takeover of the Fed!
With the Fed’s latest hiring of Neel Kashkari as President of the Minneapolis Federal Reserve Bank, Goldman Sach’s former executives will now hold 4 of the 5 Fed President’s seats on the very powerful Federal Open Markets Committee, which is responsible for the formulation of U.S. monetary policy. Before discussing concerns about these appointments, it would… [Read More]
The Large Bank Stranglehold is Tightened!
I continue to tell my audiences the large banks have a “stranglehold” on our country and that “The Dodd-Frank provisions attempting to place controls on the large banks have been systematically gutted …” As 2015 comes to a close all eyes in Washington D.C. are looking at a critical deadline which looms over Congress, our… [Read More]
Wishing You and Yours a Joyful and Blessed Thanksgiving
Wishing you and yours a joyful and blessed Thanksgiving… And, very special thanks to all of you for your support, encouragement and input as I continue the outcry over financial and governmental ethical issues and seek to hold those responsible accountable. I‘m especially grateful for my family who are such strong supporters of the work… [Read More]
Is the Government Nationalizing U.S. Companies?
Since 2012, the U.S. seems to be business as usual. Stocks have been climbing, the “too big to fail” banks have basically paid back their government “bail out” money. The housing market has boomed, with too few homes to go around, causing much higher demand for rentals. Unfortunately, this has resulted in some renters having… [Read More]
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