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]
The Fudge Factor Strikes Again!
It’s been quite a week for the Fudge Factor as Dr. Dan Ariely professor of psychology and behavioral economics at Duke University labels “stretching the truth.” From major companies to politicians, recent news stories have pointed out more than a few potential incidents that illustrate Dr. Ariely’s work in the book he authored, The Honest… [Read More]
Billboards Urge Wall Street Employees to Report Financial Crimes with Whistleblow Wall Street Campaign
It looks as if Whistleblow Wall Street, the campaign about which I wrote last week and am involved with, is getting off the ground in a big way. Several newspapers and media outlets are reporting on the campaign, some more favorably than others. This Sunday’s New York Post, headlined its business section feature article,“Billboards urge… [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]
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 Caused the 2008 Financial Crisis? Interview by NCPA
The National Center for Policy Analysis Financial Crisis Initiative has honored Richard by inviting him to be part of their task force investigating the events which led up to the 2008 financial debacle. The NCPA interviews with Richard are included below. Richard comments, “I’m deeply honored and humbled to be part of this initiative. NCPA… [Read More]
What Would You Do?
The room filled with almost 300 bankers plus was very quiet. The 60 Minute interview with Steve Kroft, which told about what I had experienced at Citi, had just finished playing. There was a collective sigh when the clip stopped and I asked, “What would you do?,” if you had experienced widespread fraud, corruption and… [Read More]
If you ain’t cheating…
“If you ain’t cheating, you ain’t trying,”’ says a Barclay Bank trader! This last week a consortium of the six biggest national and international banks were fined $5.6 billion for manipulating global currency and interest rates, going back to 2007. The six banks were Bank of America, Barclays, Citigroup, JP Morgan Chase, Royal Bank of Scotland and UBS. All… [Read More]
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