According to analyses of government data and interviews with more than 60 former and current federal officials, during our present administration there has been a sharp decline in financial penalties against banks and big companies accused of malfeasance. While many Republican officials have by and large welcomed the change, many others are concerned that taking… [Read More]
Change and Culture – a dynamic duo.
A successful company’s culture evolves. Its culture is the foundation that predicts how well the company fares, for better or worse. And because it is difficult to measure and manage, it too often stumbles along on its own. Consequently, many companies find themselves in situations that if leadership and the board had been more diligent,… [Read More]
So Why Is Wells Fargo Still In Business? Story of a Broken Culture.
The latest in the Wells Fargo scandals has me asking, why is America’s third largest bank ($1.95 trillion) still in business? And is its present CEO, Tim Sloan, the best person to head up the sanctions and changes the Federal Reserve mandated? The Fed has yet to remove the bruising penalties it imposed on Wells Fargo in February… [Read More]
Pulitzer Prize Winner Benoît Bringer Documents the Financial Crisis of 2008!
Award-winning French investigative journalist and documentary filmmaker, Benoît Bringer, and his cameraman, Mathias Denizo, recently spent an afternoon around my kitchen table where they interviewed me regarding my role as a Citigroup whistleblower. Benoît, or Ben as he prefers being called in the US, is based in Paris, France. He was part of the International Consortium of… [Read More]
The Cycles of Boom and Bust – Do Regulations Help or Hurt?
Last week I spoke about a working paper, published by the International Monetary Fund this past January, which provides empirical support for the idea that large-scale deregulation generates a financial crisis. Brilliantly prepared by Jihad Dagher, Regulatory Cycles, Revisiting the Political Economy of Financial Crisis, is a thorough, well documented exploration of boom and bust cycles worldwide… [Read More]
Crapo Spin: Too Big to Fail … Too Small to Succeed
Senator Mike Crapo (R-ID), Chairman of the Senate Banking Committee, spearheaded a major rollback of the 2010 Dodd-Frank Act: The Economic Growth, Regulatory Relief, and Consumer Protection Act. The Crapo Bill was a recent topic of hot debate which had passed in the Senate, has now passed unchanged in the House, and has morphed into the Bank Lobbyist… [Read More]
The European Union Whistleblowing Legislation is a Game Changer
The European Commission (EC) is proposing a new law to strengthen whistleblower protection across the EU. The changes are mighty and may well set a precedent for the United States to follow. Věra Jourová, EC Commissioner for Justice, Consumers and Gender Equality explained: “The new whistleblowers’ protection rules will be a game changer. In the globalized world where… [Read More]
What do Edward Snowden, Frank Serpico, Daniel Ellsberg, and Richard Bowen Have in Common?
What an honor! A collaboration between the Society of Professional Journalists and the Government Accountability Project, The Whistleblower Project, which focuses on journalism and democracy, just announced one of their initiatives, 25 Times Whistleblowers Changed History, and I am named as one of the whistleblowers they feature. Some of the best known, Sherron Watkins of Enron, Daniel Ellsberg of… [Read More]
Warning Danger Ahead! Whistleblower Options Are Being Shut Down!
The title of an article in Just Security, “New Ruling Shows How Few Options There Are for Intelligence Community Whistleblowers” captured my attention and made me read and cringe with every word I read. The writer is Irvin McCullough, an investigator for the Government Accountability Project (GAP), the leading whistleblower protection and advocacy organization, which… [Read More]
The Intelligence Community Inspector General’s Office Has Run Amok!
The Intelligence Community Inspector General’s Office (IC IG), the office which serves as the Intelligence Community central watchdog over the intelligence agencies (including CIA and NSA), has had serious issues for some time. Just this last fall, I commented that it appears the office was not able to do its job because of the varied… [Read More]
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