Interesting times we live in. And we need to ask whether the recent unprecedented comments by Neel Kashkari, the newly appointed President of the Minneapolis Federal Reserve, to break up the big banks is genuine or too good to be true and a political smokescreen. Former Goldman Sacks vice president Kashkari is a Republican and a… [Read More]
It’s Time to Wake Up, America!
Last week the New York Times published the article “Wall St. Whistle-Blowers, Often Scorned, Get New Support” by William Cohan about Bank Whistleblowers United. This is gratifying and exciting news, as it focuses more attention and brings more eyes to the goals our new group is committed to. As I explained in a recent article, four former whistleblowers, including myself,… [Read More]
Campaign Contributions and Politicians’ “Promises”
This post is not about conspiracy theory nor is it a political statement. Just an ironic commentary on the influence peddling that goes on between politicians and big companies, which unfortunately hurts the economy, the taxpayer and small business. Recently my colleagues, Gary Aguirre, William Black, Michael Winston and I formed a probono group and policy… [Read More]
Bank Whistleblowers United… Restoring the Rule of Law to Banking
My colleagues and I have formed a probono group and policy initiative with a goal to restore the rule of law to Wall Street and accelerate our work to “greatly reduce the risk and cost of future financial crisis.” Gary Aquirre, William Black, Michael Winston and I are the founding members of Bank Whistleblowers United. Each… [Read More]
Goldman Sachs aka The Great Vampire Squid Rides Again!
As my friend William D. Cohan said in a recent New York Times post, “nearly eight years after the onset of the financial crisis; its unintended consequences continue to startle and amaze.” The latest in a long saga of TBTF bank settlements, Goldman Sachs, one of the more recent banks to resolve settlements charges for the… [Read More]
We Need To Speak Up, Loud and Clear!
Over 450 educators were in my audience this last weekend when I addressed the members of the American Accounting Association Auditors Section, the largest community of accountants and auditors in academia, So what happened, I asked them? In the financial crisis, how was it possible that all of the large financial institutions that either failed or were bailed out… [Read More]
It’s a New Year With Hope for the Large Banks! (?)
It’s a brand new year! And, this means new beginnings and hope for us all personally and perhaps for the direction our country is moving towards. After all, a new year and new beginnings does signify hope so being optimistic is a good thing, isn’t it? I was feeling hopeful the financial services industry was… [Read More]
The Goldman Sachs Takeover of the Fed!
With the Fed’s latest hiring of Neel Kashkari as President of the Minneapolis Federal Reserve Bank, Goldman Sach’s former executives will now hold 4 of the 5 Fed President’s seats on the very powerful Federal Open Markets Committee, which is responsible for the formulation of U.S. monetary policy. Before discussing concerns about these appointments, it would… [Read More]
The Large Bank Stranglehold is Tightened!
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]
Is the Government Nationalizing U.S. Companies?
Since 2012, the U.S. seems to be business as usual. Stocks have been climbing, the “too big to fail” banks have basically paid back their government “bail out” money. The housing market has boomed, with too few homes to go around, causing much higher demand for rentals. Unfortunately, this has resulted in some renters having… [Read More]
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