In this last week’s World Finance, reporter Gretchen Cashen highlights Eric Ben-Artzi’s bold gesture in refusing a Whistleblower reward and why he did so, his experience at Deutsche, and the parallels with mine at Citigroup. Most importantly, it takes a hard look at one of the most egregious issues in government: that of the regulators, most specifically,… [Read More]
Deutsche Whistleblower Eric Ben-Artzi to SEC: Keep Your $8 million!
I know I did the right thing, Mr. Eric Ben-Artzi told several newspapers this last week (FT and Bloomberg). He writes, “I turned down a whistleblower award.” Former Deutsche Bank employee and whistleblower, Eric Ben-Artzi turned down a whistleblower award of $8.25 million. “I refuse to take my share,” he said. “Although I need the… [Read More]
Changing the World…One Student at a Time
The mission of the top ranked(#37 tied, U.S. News and World Report, 2017, #42 Bloomberg Businessweek, 2015) UT Dallas Jindal School full time MBA Program (FTMBA) is to develop cutting edge problem engineers who can think, plan and act strategically to solve complex business problems. My mission, as their speaker this last week was to instill the… [Read More]
Can a Future Financial Crisis Be Prevented?
The fifth of a sixth part McCuistion TV program series aired recently (watch it here). The series, a collaboration with the National Center for Policy Analysis Financial Crisis Summit, featured two of my Bank Whistleblowers United colleagues, William K. Black, Michael Winston and me. The lineup of guests on this program included: Richard Ebeling, PhD… [Read More]
What Really Caused the 2008 Financial Crisis?
In a recent post, I mentioned the McCuistion Television Program, six part series on the financial crisis that I and several of our Bank Whistleblowers United team, (Michael Winston, William Black and I), participated in. Michael and I, along with Rashad Abdel-Khalik, PhD: Professor of International Accounting at the University of Illinois and C.R. “Rusty” Cloutier: MidSouth… [Read More]
Philosophy for Bankers…? How About Just Classes in Honesty and Ethics?
Several articles came across my desk this week. I found one especially intriguing, as it fits my frame of reference. It is a post by Ms. Yves Smith, commenting on an article “Can Philosophy Stop Bankers From Stealing?” by Lynn Parramore, a senior research analyst at the Institute for New Economic Thinking. Smith argues that the title might… [Read More]
Chicken Little was right – “the sky IS falling”!
Remember Chicken Little and her warning, the sky is falling? I sometimes feel like a Chicken Little, with my repeated warnings that the sky is indeed falling and here’s another example. Just last week I posted about my fellow Bank Whistlebowers United colleague Michael Winston’s interview with Gretchen Morgenson on the New York Times Facebook venue. I’m still… [Read More]
Michael Winston, “Wall Street’s Greatest Enemy,” tells all
Whistleblowers come in all shapes and sizes and my friend and fellow Bank Whistleblowers United colleague is certainly not one that fits most descriptions of a whistleblower. I’d mentioned Michael before in two fairly recent posts (see here and here). Former Countrywide Financial executive Michael G. Winston, PhD, was at the pinnacle of establishment success. He’d… [Read More]
“Take On Wall Street” – a Bold Agenda to Control the Large Banks!
A new group, Take On Wall Street, has emerged which vows it won’t rest until it breaks up the big banks and stops the stranglehold Wall Street has on Congress and the American taxpayer! Take On Wall Street may have enough backing behind it do so. Twenty national organizations joined Senator Elizabeth Warren (D- Mass)… [Read More]
Did the Federal Appeals Court Just Open Up the Floodgates to Fraud??
In a recent 3-0 ruling that has left many shocked and scratching their heads, a federal appeals court has reversed a $1.27 billion jury verdict against Bank of America (BofA). The federal jury took only three hours in 2013 to find BofA guilty of civil fraud for deliberately selling defective mortgages through their Countrywide unit… [Read More]
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