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 Financial Crisis Initiative
This week, three of the Bank Whistleblowers United founders, joined me in Dallas, to be on the McCuistion Television program specifically addressing our BWU initiative, what really caused the financial crisis and what must be done now to prevent another. The TV taping went very well and I’ll be sharing the program itself with you in… [Read More]
The DOJ Lemon Award – Go Directly to Jail!
William K. Black, a professor of Economics and Law, UMKC, a former financial regulator and author of The Best Way to Rob a Bank is To Own One, and one of our Bank Whistleblowers United (BWU) co-founders has decided we could “retire” our series of BWU Lemon Awards and permanently award “a Lemon” award to… [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]
Fraud is the New Norm! So Where is the Outrage?
Well it looks as if I spoke too soon. In last week’s post, I was excited about the National Archives release of the first of many FCIC documents which had been sealed for five years, including my behind-closed-doors testimony (available here). I commented on the coincidence of this five year lockup period paralleling the statute… [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]
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]
Breaking News: Bank Whistleblowers United D.C. News Conference
Our Bank Whistleblowers United initiative team, William K. Black, Gary J. Aguirre, Michael Winston and I are headed to Washington D.C. for a news conference, to be held at 10 a.m. tomorrow, Thursday, February 25, at the Campaign for America’s Future headquarters, 1825 K Street NW, Suite 400. I invite you to join us if… [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]
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