With everything going on with Wall Street you may have missed a Reuters article by Charles Levinson that talked of hundreds of billions of dollars of trades by U.S. banks which went missing early last year. Has the mystery of these disappearing derivatives been solved? Well, maybe. It seems the trades had not really disappeared, they’d just… [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 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]
The Fudge Factor Strikes Again!
It’s been quite a week for the Fudge Factor as Dr. Dan Ariely professor of psychology and behavioral economics at Duke University labels “stretching the truth.” From major companies to politicians, recent news stories have pointed out more than a few potential incidents that illustrate Dr. Ariely’s work in the book he authored, The Honest… [Read More]
Breaking News: The Congress Blog posts my op-ed
Every once in a while I ask myself if I’m making any headway in getting the attention of Congress’ Senate Banking Committee and House Financial Affairs Committee. You may recall, this last year when I appeared on Bloomberg, I asked for a Congressional investigation into the “Too Big to Fail” malfeasance. Even though I keep… [Read More]
Billboards Urge Wall Street Employees to Report Financial Crimes with Whistleblow Wall Street Campaign
It looks as if Whistleblow Wall Street, the campaign about which I wrote last week and am involved with, is getting off the ground in a big way. Several newspapers and media outlets are reporting on the campaign, some more favorably than others. This Sunday’s New York Post, headlined its business section feature article,“Billboards urge… [Read More]
Whistleblow Wall Street – A Call to Action!
I’m a firm believer that, eventually, if there is enough of a public outcry, we can make a difference and impact the path this country and our government is taking. For some time, I have been calling for greater accountability from the large Wall Street banks and have openly questioned why the Department of Justice… [Read More]
Dodd–Frank challenged in court! A Win for Community Banking and the American Public
In what is being hailed as “a win for the American public,” the D.C. Court of Appeals granted standing to challenge in court the constitutionality of certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The D.C. Circuit Court handed down a favorable ruling in the Competitive Enterprise Institute’s (CEI, a D.C…. [Read More]
Toward Accountability… Maybe Just a Small Step
It’s just a small step, but it’s at least a step in the right direction. I’m heartened by a recent call to action by Rep. Maxine Waters, (D – CA), the ranking member on the House Financial Services Committee, in an article published in the American Bankers magazine. This last February, federal prosecutors began a… [Read More]
The D.O.J gets ready for the next round….lets see if the banks get away…again!
Looks as if the new U.S. Attorney General, Loretta Lynch, is taking over the so called pursuing of bank settlements along the same lines her predecessor Eric Holder did. Let’s hope that this time around the banks are held accountable and investors are finally compensated. The settlements relate to securities backed by residential mortgages that plunged… [Read More]
