Category Archives: News and Events

Describes new books, articles, and upcoming speeches.

“I looked right at him, and in my head I said, ‘That’s a snake’ — not knowing who he was.”

A potential juror during voir dire in the jury trial (for securities fraud) of Martin Shkreli. Other potential jurors, who were struck one-by-one, did not have much better, even after the judge reminded the potential jurors that the trial was … Continue reading

Posted in News and Events | Leave a comment

“Marketplaces don’t work when people are cheating.”

Travis Kalanick, Founder and Former CEO, Uber. Hmmmm.

Posted in News and Events | Leave a comment

Uber: The Gang That Can’t Shoot Straight

Uber was a Schumpeterian success. The creative destruction of the cab/Lincoln Town car transportation model. Independent contractors driving folks around in their own cars on their own schedules. Uber was hip, groovy, defiant, and the company the sophisticated opted to … Continue reading

Posted in News and Events | Leave a comment

The NCAA Report “Does Not Identify a Single Specific Thing That Coach Pitino Should Have Done. . . “

Scott Thompsett, lawyer for Louisville head basketball coach, Rick Pitino, handling Mr. Pitino’s appeal of NCAA sanctions against him for the former director of operations providing strippers and prostitutes to basketball recruits in the basketball dorm on the campus. Actually, … Continue reading

Posted in News and Events | Leave a comment

“8 Years of Rust Show as Senate Ethics Committee Finally Has Meeting”

New York Times, June 16, 2017, p. A24. Now there’s a headline. The headline refers to the ethics committee of the New York State Assembly. And it only took 12 senators being convicted of crimes and a host of various … Continue reading

Posted in News and Events | Leave a comment

Why Goldman Sachs Fund Managers Scooped Up Venezuelan Bonds Without Checking First

Goldman Sachs fund managers did not hesitate when a brokerage firm offered to sell them Venezuelan bonds for pennies on the dollar. Why not hop in and help fund a government that has left its people without food, toilet paper, … Continue reading

Posted in News and Events | Leave a comment

Curley, Schultz, and Spanier of Penn State Sentenced to Prison

For endangering the welfare of a child, the former president, a senior vice president, and athletic director were sentenced by a Pennsylvania judge to a minimum of two months in prison, with varying additional confinement time among the three, fines, … Continue reading

Posted in News and Events | Leave a comment

The key to the bottom line is the top line . . . if we had to select only one goal, it would be revenue growth.

From Wells Fargo’s mission statement in 2012. They did indeed get the revenue growth — on the retail side, Wells sold its retail customers an average of 5.9 products each. Wells led the industry in that per customer figure. However, … Continue reading

Posted in News and Events | Leave a comment

Wells Fargo Has a Plan for Luring Brokers: Bonuses Based on Performance — Sound Familiar?

In the aftermath of the fake accounts scandal at Wells Fargo, Wells Fargo lost 429 (3%) of its its brokers from its brokerage arm. As its rivals are cutting back on signing bonuses for the long time industry practice of … Continue reading

Posted in News and Events | Leave a comment

What We Can Learn from Citigroup’s Money-Laundering Settlement

Citigroup has agreed to pay $97.4 million to end the inquiry of the U.S. Justice Department into the money-laundering that was occurring through the bank’s facilities at Banamex. The bank has already paid $140 million to FDIC as a fine … Continue reading

Posted in News and Events | Leave a comment

“Taking into account both the circumstances of this matter and his otherwise exemplary record since joining Barclays, including contributing significantly to improvements in Barclays culture and controls, Jes continues to have the Board’s unanimous confidence and it will support his re-appointment at Barclays Annual General Meeting on May 10, 2017.”

John McFarlane, chairman of Barclay’s Bank on the Board’s position on retaining James E. Staley (Jes) as the bank’s third CEO since 2012, when the bank’s LIBOR rate-fixing scandal became public. Mr. Staley tried to obtain the identity of an … Continue reading

Posted in News and Events | Leave a comment

“It’s one of the toughest of the toughest jobs in city government, and all people want to talk about is the God-forsaken cars.”

New York City Mayor Bill de Blasio defending his embattled jails chief. Actually, Mayor, the car issue arose because the guy spent 90 days out of the state last year — the car was just how he got there. Bad … Continue reading

Posted in News and Events | Leave a comment

They Told Me I Could Take My City-Issued Vehicle to Maine

Joseph Ponte, embattled commissioner of the New York City Department of Corrections, insists that he was told by city officials that it was A-Okay for him to drive his city-issued vehicle out of state on personal trips. Mr. Ponte was … Continue reading

Posted in News and Events | Leave a comment

How About That Rikers Island?

We’re talking abuse of inmates by guards and inmates, misuse of official cars, and the jail monitor allegedly spying on the Corrections Department of Investigations staff as they attempted to figure out what was going on at the Big House. … Continue reading

Posted in News and Events | Leave a comment