Wells Fargo Fake Accounts Investigation Whitewashes Glaring Risk Management Failures
Wells’ law firm Sherman & Sterling issues a tough-sounding report on the fake accounts scandal that is really a coverup for its board.
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Trump’s Idea of Running Government Like a Business is Bad for Citizens
Michael Hudson gives a high level debunking of a pet Republican canard: that government should operate like a business.
Read more...Goodbye Fiduciary Rule? Department of Labor Delays Implementation Until June
Implementation is now delayed until June, yet the steps many firms have taken to comply suggest the fiduciary rule will survive in some form.
Read more...President of Richmond Fed Leaks Insider Information and Gets to Walk Free
Bill Black discusses the travesty of the kid glove treatment of former Richmond president Jeffrey Lacker in a leak of FOMC information.
Read more...Small California Towns Are Facing Off Against Oil Companies — And Winning
California towns are winning David. v. Goliath battles with oil companies.
Read more...Richmond Fed’s Jeffrey Lacker Departs Due to Leak: Defenestration as Coverup?
In a stunning development, Richmond Fed president Lacker resigned over a leak under investigation since 2012. The details are not pretty.
Read more...Italian Banks: Not Quiet on the Eastern Front
Never before have I seen the condition of a bank’s finances (in this case liquidity) described as “hemorrhagic”. Italians beware!
Read more...Why Has Italy’s Banking Crisis Gone Off the Radar?
An update on Italy’s festering bank crisis.
Read more...MIchael Hudson: The Democracy Collaborative
Michael Hudson gives new riffs on his regular themes: classical economics and its perversion by Hayek, rentier capitalism, debt jubilees.
Read more...Why Is FTI Consulting Making It Look Like Apollo Overpaid Its Real Estate Execs $50 Million?
FTI Consulting appears awfully casual about how it handles confidential client information, and in the process has done Apollo no favors.
Read more...Trump Can’t Save Coal
Why Trump isn’t bringing coal jobs back.
Read more...Wells Fargo Gets An Additional $110 Million Wrist Slap Over Fake Accounts Scandal
Wells will wind up paying far more in consumers via a private settlement of its fake account scandal than regulators made it cough up to them
Read more...CalPERS, CalSTRS, Other Investors Have Indemnified Private Equity Criminal Conduct Even Though Fiduciary Counsels Say No
CalPERS board member JJ Jelincic confirms yet another major lapse by private equity investors.
Read more...How Monopolies Stymie Political Activism: The Case of Black-Owned Businesses
Black businessmen and political thinkers long recognized that monopolies threatened their communities and their ability to serve as activists,
Read more...Bill Black: Why Did Preet Bharara Refuse to Drain the Wall Street Swamp?
If you still doubt that Bharara and other federal prosecutors could have gone after bank executives but chose not to, this should settle it.
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