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]
The DOJ report: Another Political Hot Potato?
The Justice Department’s report on the FBI’s handling of the Clinton email scandal and other actions in advance of the 2016 election is already a political hot potato. The report has President Trump supporters saying “Told ya so” and the general public questioning how the DOJ and the FBI runs its departments. And rightfully so…. [Read More]
How to Take Apart the Consumer Financial Protection Bureau!
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]
Trump and Wall Street vs. Cordray and the American Consumer: All Out War?
This past weekend, the Consumer Financial Protection Bureau (CFPB) erupted into chaos as two leaders were appointed as the agency’s acting director. The chaos continues this week between the two acting directors with aggressive emails, donuts and a requested restraining order. So is this a power play? Or a legitimate stance? Either way, there is… [Read More]
A Fairy Tale According to Former DOJ Prosecutor Nicolas Burton
A recent Washington Post article title recently caught my eye: Five Myths About White Collar Crime. As I read the article, all I could think of was that this is a fairy tale by Grimm. Surely no one would believe such dribble! Then I realized yes they would, they have and they will continue to do so unless… [Read More]
Will Wall Street Soon Be Asking: Where’s Our ROI?
There is no free lunch. Eventually, the chips are called in and someone has to pay. For too long, in the “triangulation war” of citizen versus Wall Street and the government, it’s been the American taxpayer who loses. Now the debt has increased even further. According to a recent report by Americans for Financial Reform… [Read More]
Justice is Not Being Served – Once Again, What a Surprise!!
Last week I wrote about my concerns regarding Mary Jo White, the former SEC chair who was leaving her post, to return to her former law firm. Ms. White’s performance while SEC chair was abysmal. However my main concern is not her performance, rather it is the continual revolving door that exists in D.C. I commented,… [Read More]
Should We Welcome Back Wall Street?
A recent New York Times Sunday Review featured an article by my friend, William D. Cohan, author of The House of Cards and the forthcoming Why Wall Street Matters. The article, Welcome Back Wall Street, points out President Trump’s vilifying Wall Street throughout his campaign and his present about face- which is now welcoming Wall Street’s… [Read More]
Does Whistleblowing Pay? New Study Says Yes!
There’s a high cost to being a whistleblower. As my Bank Whistleblowers United colleagues and I can attest to, being a whistleblower means losing your job and most future possibilities of getting another position in your profession are slim to none; not to mention the human cost of the stress and emotion involved and the personal… [Read More]
Is Wall Street Taking Over Trump’s Cabinet? Will It Impact Accountability?
The December 10th issue of The Economist said, “The emerging Trump strategy towards business has some promising elements, but others that are deeply troubling.” I agree. In his campaign, Mr. Trump slammed Wall Street and Goldman Sachs, however his actions seem to bely his previous position. From the early days of his campaign, one of Donald Trump’s… [Read More]
