Monthly Archives: September 2008

The Tragedy of Downey Financial: A Classic Example of the Seven Signs of Ethical Collapse

Posted on September 8, 2008 by mmjdiary

Downey Financial was a beacon of hope during the first savings and loan crisis that we lived through during the early 1990s.  Downey avoided the temptations of that cycle by not engaging in the accounting skullduggery of loan rollovers, not … Continue reading →

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Rangel Update — Interest Waived by Resort Developer

Posted on September 8, 2008 by mmjdiary

Charles Rangel has now hit the Barometer three times:  (1) He has four rent-stabilized apartments in New York City (this spread in NYC really rankles those who are living in those cubicles that were once used to sell knock-off purses … Continue reading →

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Just because you have depreciation does not mean you get a pass from the IRS

Posted on September 5, 2008 by mmjdiary

Representative Charles B. Rangel failed to report income from property he owns at the Punta Cana Yacht Club.  The chair of the House Ways and Means Committee (responsible for the Internal Revenue Code) indicated that he did not know of the problem.  … Continue reading →

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Jack Abramoff: Brazen Lobbyist Says “My name is the butt of a joke” At Sentencing Hearing

Posted on September 5, 2008 by mmjdiary

In a quintessential end to a Greek tragedy, Jack Abramoff, the millionaire lobbyist who was once at the center of Washington’s movers and hakers, was sentenced to four years in prison for conspiracy to corrupt public officials.  There is some irony that … Continue reading →

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“I have fallen into an abyss, your honor, and I don’t quite know how to get out.”

Posted on September 5, 2008 by mmjdiary

Jack Abramoff, former lobbyist, on being sentenced to four years in prison for fraud and conspiracy to corrupt public officials buy cialis overnight delivery viagra money order

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Kwame Kilpatrick, Detroit’s Soon-to-be-Former Mayor, Enters Into Plea Agreement, Jail Time Included

Posted on September 4, 2008 by mmjdiary

The saga has ended.  Detroit can move on to dealing with its citizens’ issues.  Mr. Kilpatrick can begin his introspection and reform.  Mr. Kilpatrick entered a guilty plea to two counts of obstruction of justice as well as a no … Continue reading →

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