(By Sri Ramamoorti) In two previous posts, colleague Vic Hartman addresses the $1.365 billion settlement between the federal government and Standard & Poor’s Financial Services LLC (S&P) and the miasma from which it emerged. He presents the tacit and possibly subconscious widespread collusion involved in a situation where all the players he described could dismiss […]
(By Joe Koletar) An old African proverb goes, “If you wish to travel quickly, go alone. If you wish to travel far, go together.” There is much wisdom reflected in two simple sentences. The challenge of a leader is not so much to have a vision. It is the ability – leadership – to get […]
(By Joe Koletar) Dr. Sridhar Ramamoorti, a professor of accountancy at Kennesaw State University, and founder of this blog, has been honored by the Michael J. Coles College of Business (Kennesaw State University) for his authorship role in the book, “A.B.C.s of Behavioral Forensics (Wiley, 2013).” The award, The 2015 Coles College Publication Prize, will […]
(By Joe Koletar) The Wall Street Journal carried an article concerning the possible future of employment in an organization (“You Aren’t a Human, You’re a Data Point.” 2/17/15, page B-1). It appears some top executives want a digital dashboard which will inform them who is at their desk and how happy they are about their […]
(By Vic Hartman) In a previous post, we considered the recent Standard & Poor’s settlement with the federal government concerning charges the company had knowingly misrepresented the risk level in securities backed by mortgages (RMBs, or Residential Mortgage-Backed Securities and CDOs, or Collateralized Debt Obligations). The Department of Justice accused S&P of illegally putting […]
(By Sri Ramamoorti) On February 13, 2015, Joe Koletar posted an entry that mentions, “…the fines (relatively insignificant in amount to the offenders), often go unpaid!” The fines levied on the big banks following the Wall Street financial crisis exceed $100 billion, and even for the big banks, these are are significant and […]
(By Joe Koletar) The February 11, 2015 Wall Street Journal reports what increasingly seems to be old news: “U.S. Seeks Guilty Pleas from 4 Banks in Probe (page C-3).” The targets this time are Barclays PLC, Citigroup, Inc., J.P.MorganChase, and Royal Bank of Scotland. The article tells us the Justice Department (DOJ) plans to charge […]
(By Vic Hartman) The Department of Justice announced February 3, 2015, a $1.375 billion settlement from the long-standing and venerable ratings agency, Standard & Poor’s Financial Services LLC (S&P). DOJ had charged S&P with civil charges based on laws enacted after the Savings and Loan crisis here in the United States in the late 1980s. […]
The January 29, 1915 Wall Street Journal describes (p. B1) technology “…That Unmasks Your Hidden Emotions.” The article, by Elizabeth Dwoskin and Evelyn Rusli, introduces software based on the work of Paul Ekman, now 80 years old, who catalogued more than 5,000 facial muscle movements that he believes clue us in about the emotions behind […]
(By Joe Koletar) In our book, “A.B.C.’s of Behavioral Forensics” (John Wiley & Sons, 2013), we explore three concepts to better understand and address fraud in organizations: A – The sole bad apple. B – The bad group, or bushel. C – The bad crop, or corrupt organization. Is it possible financial regulators may have […]