Can Fraud Ever Be Totally Eliminated A few weeks ago, I was talking with a potential client who had been experiencing unusual issues with their business. They suspected that certain employees were not being totally honest and forthright. We were having discussions to determine better where the problems started and how they were allowed to…
Over the past several weeks, we have been inundated with stories concerning government waste and fraud. You could not escape this unless you have been living in an isolated part of the world, i.e., hiking in the rainforests of Brazil or the outback in Australia. From now on, the entire narrative of fraud will change,…
Over the past several years, I have noticed a trend that is very concerning to me and to certain people in other parts of the world who value success and determination. It seems that a particular segment of our population has learned to fear, or even work against, success and achievement. They almost seem to…
It seems as if every day we are witnessing massive fraud in corporate America and across various branches of our government at both the national and state levels. The latest example is the alleged fraud in Minnesota. The preliminary findings indicate this involves billions of dollars. The question at hand is how this fraud occurred…
As a former banking regulator and current financial sector consultant, I have been following with increased interest the issues involving credit quality in two recent bankruptcy filings. The high-profile collapses of First Brands Group (a global auto-parts supplier) and Tricolor Holdings (a subprime auto lender) have sparked alarm about the elevated risk of loan portfolios.…
In October 2024, I wrote an article detailing my thoughts on financial literacy. I included the following paragraph as an illustration: Let’s say someone was never taught about things like loan agreements, compounding interests, or return on investment. So, without that knowledge, they might, hypothetically, sign up for a loan they don’t understand and can’t…
In 1994, Ukraine signed the now-infamous Budapest Memorandum – a document which formalized Kyiv’s abandonment of nuclear weapons in exchange for Kremlin promises to respect Ukrainian national sovereignty. Included in these promises was not to use force against Ukraine and to respect Ukraine’s borders. There were two other parties to this agreement—namely, the US and…
Ukraine’s Version of Sanctions Since the beginning of the Russian invasion, Ukraine has shown amazing grit, courage, and determination as its people united to defend their country. Now, they are also displaying astounding creativity by being the first military to develop sophisticated drone warfare in an ongoing conflict. Rather than wait for sanctions and other…
The Role of a Banking Regulatory Expert Witness in Litigation In most cases where I serve as an expert witness, I am hired to explain a topic that a layperson may not fully comprehend. Therefore, my role is to educate, inform, and more clearly define a topic that is being litigated. The group of people…
Challenges Facing the Federal Reserve’s Governance Principles The issues surrounding the saga of Lisa Cook keep on going, like the Energizer Bunny. They never seem to slow down. If you have been following the recent events, you will have noticed that she did not deny the accusation(s) leveled against her concerning the perceived fraud on…