In the last couple of weeks, I’ve been featured/quoted in several publications, Wall Street on Parade, the NY Times Dealbook and the New York Post, as have several other whistleblowers, Eric Ben-Artzi, Alayne Fleishmann and Gary Aguirre, among others. In sifting through these articles and others, I am seeing a pattern develop which deeply troubles me… [Read More]
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Did We Learn Anything From the 2008 Financial Crisis?
Last year, fellow Bank Whistleblowers United colleague, Michael Winston, the Countrywide Whistleblower, and I, along with C.R. “Rusty” Cloutier, MidSouth Bankcorp. Inc, Founding President and CEO, and Rashad Abdel –Khalik, PhD. Professor of International Accounting at the University of Illinois, joined Dennis McCuistion; the host of the McCuistion Program for an insightful look at “What… [Read More]
If You Check the Box …You’ve Given Away Your Rights! But CFPB is Coming to the Rescue!
Every day, we sign up for programs, install smart phone apps, shop online and check the box that says we’ve read and agreed to the merchant’s terms. Yet, have you read them? And if you don’t check the box, you can’t “buy” the product so what choice is there? In that fine print though you… [Read More]
Is Wall Street a National Threat?
A sentence in a recent NY Times editorial captured my immediate attention: “But the American Public Is short of memory and naively susceptible to the siren song of snake oil.” In its first system-wide “all clear” since our last financial crisis, “the Federal Reserve announced last week that all of the nations’ big banks are… [Read More]
Are Clawbacks and Shareholder Proposals Essential to Corporate Governance?
The recent Wells Fargo financial misdoings situation has focused much-needed attention once again on clawbacks, the forced return of pay and stock grants, and shareholders involvement in corporate guidance policies. The Wells Fargo’s board voted to claw back an additional $75 million in compensation from the bank’s former chief executive, John G. Stumpf, and its former head of community… [Read More]
Why Is the Fed Ignoring What Goldman Sachs Is Up To Now?
“Who’s Watching Wall Street? The Feds Turn a Blind Eye,” states David Dayen in a recent Fiscal Times article. It looks as if Goldman Sachs is on a shopping spree, spending $500 million plus or minus to buy 12 percent of Riverstone Holdings, a private equity firm. They’ve also acquired stakes in private equity players… [Read More]
Barclays Bank Gets Its Hands Slapped… and What Does That Change!!!??
Is getting its hands slapped a strong enough message? The latest in the bad bank sagas has the British bank, Barclays, red-faced. As it should. CEO Jes Staley has been reprimanded for attempting to discover the identity of an internal company whistleblower. Mr. Staley stated that he was trying to protect a colleague from what… [Read More]
Will Wall Street Soon Be Asking: Where’s Our ROI?
There is no free lunch. Eventually, the chips are called in and someone has to pay. For too long, in the “triangulation war” of citizen versus Wall Street and the government, it’s been the American taxpayer who loses. Now the debt has increased even further. According to a recent report by Americans for Financial Reform… [Read More]
Justice is Not Being Served – Once Again, What a Surprise!!
Last week I wrote about my concerns regarding Mary Jo White, the former SEC chair who was leaving her post, to return to her former law firm. Ms. White’s performance while SEC chair was abysmal. However my main concern is not her performance, rather it is the continual revolving door that exists in D.C. I commented,… [Read More]
The Wall Street Merry-Go-Round Revolves Again!
Well, while many of us notice, and many of us care, our opinions matter not! President Trump continues to astound citizens with his about-face on Wall Street, now welcoming them with open arms and he’s filling the White House with former TBTF executives and those who defend them. The revolving door which exists in government and on Wall Street, where the government… [Read More]
