BLOG.JMHAMILTONPUBLISHING.COM: Category Archive for Ethics

"But the problems will fester and the housing market will continue to suffer."

Posted by J.M. Hamilton Blog at 2/10/2012 7:26 PM | Add Comment

Bear’s hedge funds were among the first prominent collapses related to the bursting of the housing bubble

Posted by J.M. Hamilton Blog at 2/10/2012 6:32 PM | Add Comment

Rep. Nita Lowey, (D., N.Y.) voted Thursday for the Stop Trading on Congressional Knowledge Act

Posted by J.M. Hamilton Blog at 2/10/2012 6:14 AM | Add Comment

Trillions for Banks... $25 Billion for Homeowners

Posted by J.M. Hamilton Blog at 2/9/2012 7:07 AM | Add Comment

The Cardona brothers, who have no prior history of political giving, appeared seemingly out of nowhere in the world of Democratic fund-raising, Democratic activists said.

Posted by J.M. Hamilton Blog at 2/7/2012 6:45 AM | Add Comment

“The mortgage mess is the biggest financial mess we’ll see in our lifetime,” Jamie Dimon told me.

Posted by J.M. Hamilton Blog at 2/6/2012 7:52 PM | Add Comment

Credit Suisse was not named as a defendant, and has been portrayed as the victim.

Posted by J.M. Hamilton Blog at 2/6/2012 7:49 PM | Add Comment

The banks — led by the five biggest mortgage servicers, Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — want to settle an investigation into abuses set

Posted by J.M. Hamilton Blog at 2/6/2012 8:30 AM | Add Comment

“Any attorney general, lawyer, bank director, judge, regulator or member of Congress who does not open their eyes to the abuse, ask pertinent questions and allow proper investigation and discovery,” he said, “is only assisting in the concealment..."

Posted by J.M. Hamilton Blog at 2/5/2012 8:10 AM | Add Comment

"Right now we're stuck in the middle -- with a functional regulatory system that leaves no one with ultimate responsibility."

Posted by J.M. Hamilton Blog at 2/4/2012 8:59 AM | Add Comment

The Yes Men...

Posted by J.M. Hamilton Blog at 2/3/2012 7:12 PM | Add Comment

The Sychophants!

Posted by J.M. Hamilton Blog at 2/3/2012 7:11 PM | Add Comment

"Money can become less liquid and frozen by 'price' in addition to the classic liquidity trap explained by 'risk.'"

Posted by J.M. Hamilton Blog at 2/3/2012 6:30 AM | Add Comment

The cost of bigger capital buffers may not be zero, but it is surely less than the cost of another meltdown.

Posted by J.M. Hamilton Blog at 2/3/2012 6:29 AM | Add Comment

“It (the SEC) makes already weak punishment even weaker by waiving the regulations that impose significant consequences on the companies that settle fraud charges. No wonder recidivism is such a problem.” - Charles Grassley - Republican

Posted by J.M. Hamilton Blog at 2/3/2012 6:20 AM | Add Comment

‘Yes Man’

Posted by J.M. Hamilton Blog at 2/2/2012 7:19 PM | Add Comment

William Koch, whose brothers Charles and David are among the country’s most prominent backers of conservative causes, gave $1 million personally or through Oxbow Carbon, the energy company he founded.

Posted by J.M. Hamilton Blog at 2/2/2012 6:40 PM | Add Comment

"While the housing market was collapsing, the defendants profited, not by correctly predicting the trend, but by cooking the books."

Posted by J.M. Hamilton Blog at 2/2/2012 6:03 AM | Add Comment

Goldman Sachs Group Inc. (GS) may hire Richard “Jake” Siewert Jr., a former counselor to U.S. Treasury Secretary Timothy F. Geithner

Posted by J.M. Hamilton Blog at 2/1/2012 7:05 AM | Add Comment

Sound tax policy calls for raising the capital gains tax, which, at 15 percent, is the lowest since the Great Depression.

Posted by J.M. Hamilton Blog at 2/1/2012 6:56 AM | Add Comment

“Futures customers — including farmers, ranchers, and manufacturers — have been suspended in excruciating limbo, wondering when they will receive their funds.”

Posted by J.M. Hamilton Blog at 2/1/2012 6:54 AM | Add Comment

“Send me a bill that bans insider trading by members of Congress,” Mr. Obama said. “I will sign it.”

Posted by J.M. Hamilton Blog at 1/31/2012 6:51 AM | Add Comment

In a statement, Asset Acceptance said that the settlement ended an F.T.C. investigation that began nearly six years ago, and that the company did not admit to any of the allegations

Posted by J.M. Hamilton Blog at 1/31/2012 6:36 AM | Add Comment

The Justice Department has not seen fit to file any charges arising from the S.E.C. cases filed to date, and closed its criminal investigation of Countrywide

Posted by J.M. Hamilton Blog at 1/30/2012 7:08 PM | Add Comment

The commissioners have also called for new procedures and policies to clarify who the new watchdog would report to and what kind oversight the commission would have.

Posted by J.M. Hamilton Blog at 1/30/2012 7:00 PM | Add Comment

Gretchen Morgenson...

Posted by J.M. Hamilton Blog at 1/30/2012 6:57 PM | Add Comment

Freddie Mac, the taxpayer-owned mortgage giant, has placed multibillion-dollar bets that pay off if homeowners stay trapped in expensive mortgages with interest rates well above current rates.

Posted by J.M. Hamilton Blog at 1/30/2012 6:51 PM | Add Comment

The fact that people were less likely to lie via video than in person was surprising, Xu said

Posted by J.M. Hamilton Blog at 1/27/2012 6:28 PM | Add Comment

The Lobbying Disclosure Act of 1995 has three tests:

Posted by J.M. Hamilton Blog at 1/27/2012 5:03 AM | Add Comment

Foxconn is one of the few manufacturers in the world with the scale to build sufficient numbers of iPhones and iPads. So Apple is “not going to leave Foxconn and they’re not going to leave China,”

Posted by J.M. Hamilton Blog at 1/26/2012 5:41 AM | Add Comment

“We believe that the proposed settlement appropriately sanctions the misconduct while giving due credit to Diamondback for its substantial assistance in the government’s investigation..." - SEC

Posted by J.M. Hamilton Blog at 1/24/2012 8:10 PM | Add Comment

When I asked the N.C.A.A. about the Boatright case, the response I received was deeply disingenuous.

Posted by J.M. Hamilton Blog at 1/24/2012 6:50 AM | Add Comment

An SEC spokesman said the agency doesn't discuss whether it is investigating a firm.

Posted by J.M. Hamilton Blog at 1/20/2012 7:58 PM | Add Comment

“The financial institutions, when they talk abut international regulation, they follow the model of the teenage child of divorced parents — playing mommy off against daddy,” Mr. Frank said.

Posted by J.M. Hamilton Blog at 1/19/2012 7:20 PM | Add Comment

“However, the MF Global bankruptcy has dealt a severe blow to the public’s confidence in the financial integrity of our futures markets.”

Posted by J.M. Hamilton Blog at 1/19/2012 7:19 PM | Add Comment

An attorney for Mr. Mozilo declined to comment on the McKeon loan. He denied any wrongdoing by Mr. Mozilo in connection with the loan.

Posted by J.M. Hamilton Blog at 1/18/2012 7:14 PM | Add Comment

Again, J.M. Hamilton with the often Prescient Thing...

Posted by J.M. Hamilton Blog at 1/17/2012 7:20 PM | Add Comment

The company, Mortgage Resolution Partners, claims its strategy of using "legal and political leverage" to acquire the loans could generate a 20 percent annual return for investors.

Posted by J.M. Hamilton Blog at 1/17/2012 6:38 PM | Add Comment

What is needed is leadership by President Obama on this issue. He should form an interagency task force to investigate and pursue potential civil and criminal wrongdoing by institutions and people...

Posted by J.M. Hamilton Blog at 1/16/2012 6:29 AM | Add Comment

Ms. O’Brien’s lawyer, Reid H. Weingarten, did not respond to requests for comment.

Posted by J.M. Hamilton Blog at 1/15/2012 7:19 AM | Add Comment

Read about it before it happens at J.M. Hamilton: Always cutting edge – often prescient!

Posted by J.M. Hamilton Blog at 1/14/2012 8:40 AM | Add Comment

In a column in The Wall Street Journal this week, Mark Emmert, the N.C.A.A. president, complained about unnamed critics who were calling for players to be paid — gee, who could he be referring to?

Posted by J.M. Hamilton Blog at 1/14/2012 6:52 AM | Add Comment

“We know exactly where the money is.”

Posted by J.M. Hamilton Blog at 1/12/2012 11:34 PM | Add Comment

JPMorgan is a focus of the inquiry.

Posted by J.M. Hamilton Blog at 1/11/2012 7:15 PM | Add Comment

Federal Reserve Governor Sarah Bloom Raskin on Saturday said the Fed must impose monetary penalties on banks

Posted by J.M. Hamilton Blog at 1/8/2012 9:04 AM | Add Comment

“Uh huh.” “What’s the matter with you? You’ve been in this country for only five minutes and already you’re complaining!”

Posted by J.M. Hamilton Blog at 1/7/2012 8:52 AM | Add Comment

"Last week, I described the N.C.A.A. as a cartel. Turns out, it’s a Star Chamber, too."

Posted by J.M. Hamilton Blog at 1/7/2012 8:23 AM | Add Comment

U.S. District Court Judge Jed Rakoff cited that policy last month when he rejected the agency’s proposed $285 million settlement with Citigroup Inc.

Posted by J.M. Hamilton Blog at 1/6/2012 8:14 PM | Add Comment

The Securities and Exchange Commission said on Friday that it was making a major change in how it settles some securities fraud cases, telling companies that they will no longer be allowed to neither admit nor deny the commission’s civil charges

Posted by J.M. Hamilton Blog at 1/6/2012 8:03 PM | Add Comment

It is disingenuous for him (Chief Justice Roberts) to claim that “no compilation of ethical rules can guarantee integrity” when no code currently applies to the court.

Posted by J.M. Hamilton Blog at 1/6/2012 6:24 AM | Add Comment

In December, the Federal Reserve proposed the much-awaited capital and liquidity rules for the largest U.S. banks and non-banks.

Posted by J.M. Hamilton Blog at 1/4/2012 7:44 PM | Add Comment

“I refuse to take ‘no’ for an answer,” Mr. Obama said.

Posted by J.M. Hamilton Blog at 1/4/2012 7:37 PM | Add Comment

General Dabi repeatedly obstructed their investigation

Posted by J.M. Hamilton Blog at 1/3/2012 7:10 AM | Add Comment

“It is our duty not to take the food from our orphans, so I threw a bowl of food in the director’s face and fired him and the cook.”

Posted by J.M. Hamilton Blog at 1/1/2012 7:01 AM | Add Comment

Fisher, a former Playboy model who has also starred in soft-core porn films, prompted Hurd’s resignation from HP last year

Posted by J.M. Hamilton Blog at 12/31/2011 7:36 AM | Add Comment

The N.C.A.A. has neither an antitrust exemption nor a player’s union to negotiate with.

Posted by J.M. Hamilton Blog at 12/31/2011 6:58 AM | Add Comment

“Pot, not a great idea in the office. It troubled me, probably because they were actually dealing the pot out of the office while I was in the middle of running a several-hundred-million-dollar Ponzi scheme.”

Posted by J.M. Hamilton Blog at 12/31/2011 6:52 AM | Add Comment

It gets even worse in the derivatives markets...

Posted by J.M. Hamilton Blog at 12/28/2011 7:25 AM | Add Comment

“The fair-trade movement has profoundly lost its way.”

Posted by J.M. Hamilton Blog at 12/26/2011 9:24 AM | Add Comment

For consumers with expensive wireless plans, pricey bundles of cable channels and costly, slow broadband, this does not look like good news.

Posted by J.M. Hamilton Blog at 12/25/2011 8:33 AM | Add Comment

Capital One dropped the suit after Ms. Torres accused the company in a separate lawsuit filed in September of flouting bankruptcy law.

Posted by J.M. Hamilton Blog at 12/23/2011 10:28 AM | Add Comment

the Chicago Bears receiver, their hero, accused of aspiring to become not just a drug dealer, but a kingpin, Tony Montana of “Scarface” and football’s Joe Montana all at once.

Posted by J.M. Hamilton Blog at 12/23/2011 9:54 AM | Add Comment

But the rest of the Olympus board has been scrambling to retain control of the company. Backing them are the country’s biggest banks, which hold great sway over top Japanese corporations

Posted by J.M. Hamilton Blog at 12/22/2011 6:02 PM | Add Comment

“The bank is trying to dig its way out of a hole -- there’s no bigger hole than its Countrywide assets.”

Posted by J.M. Hamilton Blog at 12/22/2011 7:56 AM | Add Comment

Under a plea bargain, Mr. Beckley will most likely serve 12 to 18 months.

Posted by J.M. Hamilton Blog at 12/21/2011 6:53 AM | Add Comment

A Ray of Light in a Sea of Darkness.... AT&T Calls it Quits on T-Mobile Bid.... HOPE!

Posted by J.M. Hamilton Blog at 12/19/2011 7:35 PM | Add Comment

Although the S.E.C. has pursued cases against Wall Street firms, like Goldman Sachs and Citigroup, over toxic securities tied to subprime mortgages, no senior executives from those firms were named

Posted by J.M. Hamilton Blog at 12/19/2011 7:17 PM | Add Comment

"The SEC’s practice of using 'no-contest settlements' has raised concerns about accountability and transparency..."

Posted by J.M. Hamilton Blog at 12/19/2011 7:12 PM | Add Comment

The agreement, by which Breuer will pay a fine of 350,000 euros, does not mean that 74-year-old Breuer is pleading guilty and he will not have any criminal record because of it.

Posted by J.M. Hamilton Blog at 12/19/2011 7:02 PM | Add Comment

“When Obama sells arms to dictators repressing people seeking democracy, he ruins the reputation of America."

Posted by J.M. Hamilton Blog at 12/18/2011 9:25 AM | Add Comment

Paterno, he said, “slumped back in his chair.” “He said: ‘Well, I’m sorry you had to see that. It’s terrible.'"

Posted by J.M. Hamilton Blog at 12/17/2011 7:37 AM | Add Comment

Perry began receiving the pension of $7,698 a month, before taxes, beginning Jan. 31, said Ray Sullivan, a campaign spokesman.

Posted by J.M. Hamilton Blog at 12/17/2011 7:33 AM | Add Comment

The additional government debt as a direct result of this finance-induced deep recession is estimated by the Congressional Budget Office at around 50 percent of gross domestic product, roughly $7 trillion.

Posted by J.M. Hamilton Blog at 12/15/2011 8:33 PM | Add Comment

"What is going on in Congress is deliberate action to starve some U.S. regulators of funds..."

Posted by J.M. Hamilton Blog at 12/15/2011 8:22 PM | Add Comment

“We are not the regulators of MF Global — that’s done by the S.E.C, and C.F.T.C., so we do not have ongoing insight into developments within the company,” Ben S. Bernanke

Posted by J.M. Hamilton Blog at 12/15/2011 6:45 AM | Add Comment

How do you know other futures brokers are not misusing customer money?

Posted by J.M. Hamilton Blog at 12/14/2011 7:07 PM | Add Comment

"But here’s the rub: By taking this doctrine too far, the S.E.C. has undermined its negotiating position."

Posted by J.M. Hamilton Blog at 12/14/2011 7:02 PM | Add Comment

“I would have no part at all in selling Olympus or breaking up Olympus. It’s important that Olympus remains a listed company in Japan,” Mr. Woodford said

Posted by J.M. Hamilton Blog at 12/14/2011 6:51 PM | Add Comment

Keeping Olympus a listed company would add fuel to accusations that Japan Inc. coddles established players

Posted by J.M. Hamilton Blog at 12/14/2011 6:35 AM | Add Comment

"Very Vague"

Posted by J.M. Hamilton Blog at 12/13/2011 8:00 PM | Add Comment

While tycoons on food stamps might be hard to find, some millionaires do indeed pursue unemployment pay when they find themselves out of job

Posted by J.M. Hamilton Blog at 12/13/2011 7:28 AM | Add Comment

“Our analysis shows that even divesting half of T- Mobile’s subscribers to Leap and MetroPCS would still leave the vast majority of U.S. wireless customers in markets” where concentration is higher than the Justice Department’s ceiling

Posted by J.M. Hamilton Blog at 12/13/2011 7:17 AM | Add Comment

The rule change would also have prevented MF Global from engaging in so-called repo transactions -- short-term secured financings with institutional investors -- with other Wall Street firms.

Posted by J.M. Hamilton Blog at 12/12/2011 7:39 PM | Add Comment

“It would be very useful to see” those names, said Stiglitz, a professor at Columbia University in New York.

Posted by J.M. Hamilton Blog at 12/12/2011 7:01 AM | Add Comment

Was it nothing more than “crony capitalism” -- the idea that the rich always seem to get better information about the markets before anyone else

Posted by J.M. Hamilton Blog at 12/11/2011 6:37 AM | Add Comment

"There are signs the residents are happily moving on from their ordeal, even as they savor the prospect of watching their former attorneys, property managers, and board members shuffle off to jail."

Posted by J.M. Hamilton Blog at 12/10/2011 7:01 AM | Add Comment

The board operated from 1933 to 1977 as an experiment in genetic engineering once considered a legitimate way to keep welfare rolls small, stop poverty and improve the gene pool.

Posted by J.M. Hamilton Blog at 12/10/2011 6:37 AM | Add Comment

The Economist - Corruption Index

Posted by J.M. Hamilton Blog at 12/8/2011 8:02 PM | Add Comment

“I did not exert undue or improper influence on regulators,” Corzine told lawmakers.

Posted by J.M. Hamilton Blog at 12/8/2011 8:00 PM | Add Comment

“Antitrust conditions should not be allowed to endanger the industry and economic logic of this transformational merger.”

Posted by J.M. Hamilton Blog at 12/8/2011 7:48 PM | Add Comment

Ms. Dunn authorized a spying operation and put it in the hands of outside investigators, who ran amok.

Posted by J.M. Hamilton Blog at 12/6/2011 7:03 AM | Add Comment

"Let’s stipulate that the behavior of Citigroup and its executives is every bit as bad as the agency alleges."

Posted by J.M. Hamilton Blog at 12/5/2011 8:05 PM | Add Comment

“I seen my opportunities and I took ’em.”

Posted by J.M. Hamilton Blog at 12/3/2011 11:37 AM | Add Comment

Mr. Corzine has not been accused of any wrongdoing. A representative for Mr. Corzine declined to comment.

Posted by J.M. Hamilton Blog at 12/2/2011 7:03 PM | Add Comment

Ken Prewitt and Arthur Levitt - Bloomberg Podcast

Posted by J.M. Hamilton Blog at 12/1/2011 8:08 PM | Add Comment

Investigators now fear that MF Global tapped anywhere from $600 million to $1.2 billion to meets its own financial obligations.

Posted by J.M. Hamilton Blog at 12/1/2011 7:50 PM | Add Comment

“There have been repeated fines and malfeasance at literally all the investment banks, but it doesn’t seem to affect their behavior much,” he said.

Posted by J.M. Hamilton Blog at 11/30/2011 8:24 PM | Add Comment

“The investigation’s findings are clear: approval of AT&T’s bid for T-Mobile would lead to higher prices for consumers, eliminate jobs, harm competition, and damp innovation across the wireless industry.”

Posted by J.M. Hamilton Blog at 11/30/2011 7:38 AM | Add Comment

As Ferdinand Pecora, the Depression-era prosecutor, is supposed to have said of the events leading to the Wall Street crash of 1929: Pitch darkness was among the bankers’ stoutest allies.

Posted by J.M. Hamilton Blog at 11/28/2011 8:27 PM | Add Comment

Louis J. Freeh, the former director of the Federal Bureau of Investigation, was asked on Friday to become the trustee for MF Global

Posted by J.M. Hamilton Blog at 11/28/2011 8:08 PM | Add Comment

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