There are disturbing issues going on at the Intelligence Community Inspector General’s Office, the office which serves as the Intelligence Community central watchdog. Created in 2010, its job is to investigate waste, fraud, abuse and illegalities within the 16 agencies it monitors; communicate with, reach out to and give an additional layer of protection to… [Read More]
Ethics: The Road to Profits
A firm’s culture can predict how much market value that firm will create for stakeholders. Researchers have found that companies with ethical cultures significantly outperform other companies in stock value. In fact, researchers have shown that a firm’s culture is the strongest predictor of how much market value that firm will create for shareholders’ investments. A… [Read More]
Do We Have Government by Goldman?
As a headline of an article by The Intercept suggests? A funny thing happened on the road to the White House. A President who had railed against Goldman Sachs and other TBTF and proclaimed, “For too long, a small group in our nation’s capital has reaped the rewards of government while the people have borne… [Read More]
Preparing Students for an Ethical Future – University of Nebraska Gets it Right
From SEACEN in Malaysia to The University of Nebraska (UN) in the space of two weeks. Continents apart, yet a similar message…business ethics pay off! From central bank executives to business students, my message to each emphasized the importance of doing the right thing and the key essentials individuals and businesses must follow to ensure… [Read More]
What an Honor to Present to SEACEN in Kuala Lumpur!
I recently spoke in Kuala Lumpur, Malaysia at a high-level conference on financial stability and supervision attended by top executives from the central banks of nineteen countries. The conference was sponsored by The South East Asian Central Banks (SEACEN) Research and Training Centre, based in Kuala Lumpur. SEACEN was established as a legal entity in… [Read More]
Wells Fargo: The Poster Child of Greed & Fraud
Wells Fargo has now become a never ending story of greed and fraud as the charges against them continue and even more charges come to light. It now looks as if they have uncovered an additional 1.4 million fake bank and credit card accounts for a total of up to 3.5 million accounts from their… [Read More]
Wells Fargo, Fried Again!
Well, it looks as if Wells Fargo, the self-proclaimed “community-based financial services company” is once again on the hot seat.The bank had been forcing unneeded collision insurance on customers who financed their car purchases through the bank. That practice, first disclosed by The New York Times, affected 800,000 customers according to an analysis commissioned by the bank. The bank… [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]
The White House Flouts Ethics Rules
“The White House just used a brazen back door move to bypass the Senate”… read the headlines of a recent Vanity Fair article regarding the appointment of Keith A. Noreika as the Acting Comptroller of the Currency, which makes Mr. Norieka the administrator of the federal banking system and acting head of the Office of the Comptroller of… [Read More]
Barclays Bank Gets Its Hands Slapped… and What Does That Change!!!??
Is getting its hands slapped a strong enough message? The latest in the bad bank sagas has the British bank, Barclays, red-faced. As it should. CEO Jes Staley has been reprimanded for attempting to discover the identity of an internal company whistleblower. Mr. Staley stated that he was trying to protect a colleague from what… [Read More]
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