Peter Henning, in his self-bowdlerized Dealbook feature he branded as “White Collar Watch” (note his deletion of the word “crime”) has come up with an article that illustrates that the New York Times is clueless about bank regulation.
The original NPR story presented my comments on Treasury’s opposition to brining criminal charges. Those comments were subject to what NPR labeled a “clarification” which meant they were removed from the program.
Does anyone seriously think that Dudley would take a job as a regulator subject to federal pay caps? If the President or Congress ends the conflict of interest Dudley will scurry back through the revolving door to Government Sachs before the law becomes effective.
The NY Fed and Goldman have combined again to produce fingers scraping on a moral blackboard. The story is – not – told coherently in a NY Times piece.
Finance is the largest driver of our surging inequality. The “sure thing” of accounting control fraud has paid well for the banksters.
By William K. Black After a decade of committing tens of thousands of felonies that the U.S. government believes helped fund terrorism and Iran’s development of nuclear weapons, having the great fortune of settling the cases without any senior officers … Continue reading →
The news in Europe (I’m in Kilkenny, Ireland participating in Kilkenomics V) is filled with coverage of the latest travesty of the Troika – a leak disclosed the “let’s make a (secret) deal to virtually eliminate your corporate taxes” practices of Luxembourg under the reign of Jean-Claude Juncker.
One of the traditions of Kilkenomics is that the travesty of some act by the Troika (the European Central Bank (ECB), the International Monetary Fund (IMF), and the European Commission (EC)) is revealed just in time to kick off the festival.
I want to give a hat tip to a recent Wall Street Journal article that brought to my attention two damning admissions by JPMorgan’s (JPM) CEO and Chairman of the Board, Jamie Dimon.
In finance, the role of the “rocket scientists” is primarily pernicious. Nevertheless, they played a much smaller role than the officers that controlled the banks played in the growth of the financial crisis and an even smaller role in the three epidemics of control fraud that caused the crisis.