Monthly Archives: October 2010

corporate criminality

At what point do we ask ourselves whether our economic system has lost its integrity? Day in and day out one reads reports that regulators or the Justice Department have settled with major banks and other well known corporations for…

so much bigger than a shoe

Asked whether the alleged foreclosure fraud by mortgage lenders is the next shoe to drop, Ohio Attorney General, Richard Cordray exclaimed, that this is “so much bigger than a shoe.”  Indeed,  with a penalty of $25,000 per fraudulent foreclosure, the…

rogue trader kerviel found guilty

Jérôme Kerviel, the former Société Générale trader who lost EUR 4.9 billion in unauthorized trading in 2008 was sentenced to three years in prison today and ordered to repay the bank the entire amount of his losses. From the FT:…