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]
“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]
My New York Times Interview on Facebook Live… the new technology
Update on 5/20/2016: The following article talks about technical problems with the broadcast. Today, the New York Times posted a version without technical problems. You can see it here: https://www.facebook.com/nytimes/videos/10150812143494999/ The executive producer of the New York Times for Facebook Live said “one of the highest levels of engagement yet in both comments and emoticons.”… [Read More]
The 2nd NCPA Financial Crisis Initiative kicks off with the Honorable Jeb Hensarling (R-TX)
This week the National Center for Policy Analysis (NCPA) is holding its second Financial Crisis Initiative conference in Washington, D.C. I’ll be part of the panel discussions along with my colleague Marianne Jennings, ethicist and the author of The Seven Signs of Ethical Collapse and several other speakers who were in Dallas this month. The D.C. audience… [Read More]
Silence is Deadly. Lessons Learned.
The audience was primarily internal auditors at my presentation this week at the 11th Annual Fraud Summit, held at the University of Texas at Dallas, where I teach, sponsored by the Institute of Internal Auditors, the Association of Certified Fraud Examiners, and Information Systems Audit and Control Association. I talked about fraud and how as… [Read More]
Now We Know — The DOJ Ignored Two FCIC Citi Criminal Referrals!
Several items have recently hit the press regarding the financial crisis of 2008 which could lead to further investigation of what actually happened and who is responsible. One that has me excited is the National Archives releasing the first of many documents of the Financial Crisis Inquiry Commission (FCIC) which have been sealed for five… [Read More]
Is Fraud in the Eye of the Beholder? Andy Fastow Explains
I spoke recently to a Dallas Society of CPAS conference focusing on fraud, speaking on ethics and fraud and the financial crisis. However, the speaker after me addressed the audience on Rules vs. Principles, and his presentation is worthy of some discussion. He started his presentation by holding up two items, in his right hand a trophy… [Read More]
Damn the Evidence! No Prosecutions for Citi
On several occasions, my colleagues and I have stated that the payment of the large bank settlements that were the outcome of the 2008 financial crisis were merely payments of extortion to the Department of Justice. The motive we believe was to lock up the evidence they had discovered so Americans and the world would… [Read More]
Bank Whistleblowers United D.C. Press Conference Hits a Home Run!
In spite of the stormy weather in D.C. last week Thursday, our Bank Whistleblowers United press conference got off to a rousing start. William Black and I were able to make it to D.C.; Michael Winston, stranded en route, called in on his cell, and Gary Aguirre joined us by Skype. Hosted by Campaign for… [Read More]
