Have you lied today? This is the central question posed by the new independent film, (Dis)Honesty — The Truth About Lies, which recently aired in select theaters and film festivals, and is available on iTunes and CNBC. Directed by Yael Melamede, co-founder of SALTY Features, the documentary focuses on the work of Dan Ariely, Ph.D.,… [Read More]
Questionable Ethics Taint Volkswagen
The world’s second largest car company has long bragged about its superiority in providing “clean diesel” vehicles to the U.S. But now Volkswagen executives have admitted that those vehicles have a “defeat device” that hides the cars’ actual level of pollutants … but only during emissions testing. This blatant violation of ethics and public trust has… [Read More]
A Test Case for the DOJ’s New Policy?
In my last post: New DOJ Policy to Prosecute…Real or Smokescreen?, I commented that the DOJ’s new policy to go after individuals who commit financial crimes — not just settle for fines, was a step in the right direction. I also expressed some cynicism, given their track record so far. While it’s my belief that… [Read More]
New DOJ Policy to Prosecute … Real or Smokescreen?
Perhaps, finally the hue and cry to prosecute those responsible for the 2008 financial crisis is having an impact. It looks as if the Department of Justice is changing its tune. This last Wednesday, the DOJ announced a new policy to go after the individuals who have committed financial crimes. Deputy Attorney General Sally Yates… [Read More]
All This Misbehavior, and No One Is Guilty!
In last week’s post, I shared the op-ed that I co-authored with Allen West, President and CEO of the National Center for Policy Analysis (NCPA), We Must Learn From the 2008 Crash or Repeat It …Soon. In the op-ed we pointed out that several recent indicators were somewhat alarming: the recent stock market roller coaster,… [Read More]
What Were the Major Causes of the 2008 Financial Crisis?
The National Center for Policy Analysis (NCPA) Financial Crisis Initiative is accumulating talent from scholars and practitioners nationwide to research and come to consensus on two central questions of 2008: What were the major causes of the financial crisis? What policies can and should be implemented to prevent a reoccurrence? To answer these questions, the NCPA… [Read More]
Is Dodd-Frank the Real Culprit Today? — YES!
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]
How Bankers Avoid the Slammer
In a recent Atlantic article, “How Wall Street’s Bankers Stayed Out of Jail,” William D. Cohan asks, “the probes into bank fraud, leading to the financial industry’s crash have been quietly closed. Is this justice?” It appears that the legal window for punishing Wall Street bankers for fraudulent actions that contributed to the 2008 crash has… [Read More]
Don’t Stay Silent: Stand up and Raise Your Hand!
Last Sunday, I told my American Accounting Association audience (AAA) that I tell my accounting students that at some point in their careers they may be asked to do something, or not do something, that makes them very uncomfortable, that makes them feel that something is not quite right. If so, then they need to… [Read More]
Behavioral Ethics: Too Big To Fail and the Financial Crisis
This coming week, I will be speaking at the annual conference of the American Accounting Association (AAA). AAA is the largest community of accountants in academia; key experts in that field on leading-edge research and publications. They are well known and respected as thought leaders and for shaping the future of accounting through teaching, research… [Read More]
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