BLOG.JMHAMILTONPUBLISHING.COM: Category Archive for Ethics

And it's human nature that whichever bank that is will come off looking really good and its CEO will develop a reputation for intelligence and prudent risk management.

Posted by J.M. Hamilton Blog at 5/27/2012 12:00 PM | Add Comment

Despite the negative headlines, the annual meeting will still serve as a pep rally for employees, while investors can cheer seeing Wal-Mart shares soar to 12-year highs after their late April decline.

Posted by J.M. Hamilton Blog at 5/26/2012 7:30 PM | Add Comment

Of AIG, Blankfein told directors at an afternoon meeting on Sept. 14 that the insurer “was experiencing severe liquidity stress, and it wasn’t clear how long it could continue,” George recalled.

Posted by J.M. Hamilton Blog at 5/26/2012 4:27 PM | Add Comment

In New York, a prosecutor continues his broad campaign to end insider trading.

Posted by J.M. Hamilton Blog at 5/26/2012 1:00 PM | Add Comment

“In secret deals, intermediaries have the upper hand and use it to squeeze taxpayers,” Piga said in an interview. “The bargaining power is in investment banks’ hands.”

Posted by J.M. Hamilton Blog at 5/26/2012 7:00 AM | Add Comment

The Senate Banking Committee invited Mr. Dimon for June 7, but JPMorgan has declined.

Posted by J.M. Hamilton Blog at 5/26/2012 6:29 AM | Add Comment

On Thursday, Mr. Michel described the reference to illegality as “a very bad joke that shouldn’t have been made” and said it was “just an expression of surprise.”

Posted by J.M. Hamilton Blog at 5/25/2012 1:00 PM | Add Comment

If ever there was an open-and-shut case for clawing back compensation from reckless traders and risk managers, it must be J.P. Morgan Chase & Co.

Posted by J.M. Hamilton Blog at 5/25/2012 12:45 PM | Add Comment

THE PROBE... Morgan Stanley could face regulatory scrutiny over claims that an analyst shared negative news about Facebook Inc. (FB)

Posted by J.M. Hamilton Blog at 5/23/2012 9:00 AM | Add Comment

the leaders of the Commodity Futures Trading Commission and Securities and Exchange Commission confirmed reports that their agencies had opened investigations into the nation’s biggest bank by assets.

Posted by J.M. Hamilton Blog at 5/23/2012 6:00 AM | Add Comment

David Horsley, the former senior vice president and chief financial officer of Sino-Forest, was charged with violating securities law.

Posted by J.M. Hamilton Blog at 5/23/2012 3:00 AM | Add Comment

CalSTRS, an owner of millions of Wal-Mart shares, brought this shareholder action on behalf of Wal-Mart, seeking damages for the company as a result of alleged violations of fiduciary duties by corporate officials.

Posted by J.M. Hamilton Blog at 5/22/2012 11:00 AM | Add Comment

Obama delivered a rip-roaring address at the University of North Carolina, in which he mocked the Republicans for wanting to make hardworking, non-affluent students victims of their budget-cutting impulses.

Posted by J.M. Hamilton Blog at 5/22/2012 12:00 AM | Add Comment

The sentence, handed down by Judge Richard M. Berman of Federal District Court in Manhattan, came after heroin and Suboxone was found in a cell Mr. Douglas was occupying

Posted by J.M. Hamilton Blog at 5/21/2012 3:00 PM | Add Comment

As these weapons have become more sophisticated, the strategic and ethical questions about them have grown more urgent.

Posted by J.M. Hamilton Blog at 5/20/2012 3:30 PM | Add Comment

Seven months after the demise of MF Global, customers have still not received all of their money.

Posted by J.M. Hamilton Blog at 5/20/2012 6:00 AM | Add Comment

The Kentucky company, Phoenix Products, got the job to produce the pans after Representative Harold Rogers, a Republican who is now the chairman of the House Appropriations Committee, added an earmark to a 2009 spending bill.

Posted by J.M. Hamilton Blog at 5/20/2012 5:15 AM | Add Comment

"The last thing I told the market—that it was a tempest in a teapot—was dead wrong," Mr. Dimon said, according to an official. "It's better to just tell the world what has happened, as far as we know."

Posted by J.M. Hamilton Blog at 5/18/2012 6:30 PM | Add Comment

Last year, the SEC filed civil charges alleging Mr. Ribotsky misappropriated more than $1 million in client money.

Posted by J.M. Hamilton Blog at 5/18/2012 12:30 PM | Add Comment

But that process has been compressed into four trading days as hedge funds and other investors take advantage of JPMorgan’s distress

Posted by J.M. Hamilton Blog at 5/17/2012 1:00 PM | Add Comment

Omertà may work well in some places, but not in the boardroom.

Posted by J.M. Hamilton Blog at 5/17/2012 6:30 AM | Add Comment

Robert Stutman, an expert in painkiller abuse and a former DEA official, said blocking Cardinal's facility from shipping controlled medicines for two years was "far more meaningful" than levying a fine

Posted by J.M. Hamilton Blog at 5/16/2012 1:30 PM | Add Comment

Texas has executed 482 people since it reinstated the death penalty in 1982, four times the number of any other state.

Posted by J.M. Hamilton Blog at 5/16/2012 9:00 AM | Add Comment

Allegations about Mr. Dunn first came to the attention of Mr. Schulze last December

Posted by J.M. Hamilton Blog at 5/15/2012 7:30 PM | Add Comment

Just trust us, the JPMorgan chief has in effect been saying; everything’s under control.

Posted by J.M. Hamilton Blog at 5/14/2012 8:05 AM | Add Comment

Mr. Thompson’s departure could be announced as soon as Monday.

Posted by J.M. Hamilton Blog at 5/13/2012 1:34 PM | Add Comment

“Your power is your readership,” she said. “It’s not an individual power. It’s a readership power.” And, she said, “every day, the readers can unelect us” by deciding not to buy the paper.

Posted by J.M. Hamilton Blog at 5/12/2012 9:00 AM | Add Comment

Mr. Thompson’s argument is likely to be that while he met with representatives for Yahoo’s board during the hiring process late last year, he never submitted a résumé.

Posted by J.M. Hamilton Blog at 5/11/2012 8:00 PM | Add Comment

Fortunately, it will never be taken up in the Senate, where the majority leader, Harry Reid, has said it would “shred the social safety net in order to protect tax breaks for the rich and inflate defense spending.”

Posted by J.M. Hamilton Blog at 5/11/2012 6:00 PM | Add Comment

That same year, Republicans tried to cut the SEC's budget by more than $25 million.

Posted by J.M. Hamilton Blog at 5/11/2012 12:30 PM | Add Comment

Analysts are anticipating that the government, after its weekly cabinet meeting, will require banks to set aside at least 30 billion euros more in provisions against bad loans, in addition to 50 billion euros of provisions already ordered

Posted by J.M. Hamilton Blog at 5/11/2012 10:30 AM | Add Comment

"The enormous loss J.P. Morgan announced today is just the latest evidence that what banks call 'hedges' are often risky bets that so-called 'too big to fail' banks have no business making," said Sen. Carl Levin (D., Mich.)

Posted by J.M. Hamilton Blog at 5/11/2012 8:30 AM | Add Comment

The bank's strategy was "flawed, complex, poorly reviewed, poorly executed and poorly monitored," Mr. Dimon said Thursday

Posted by J.M. Hamilton Blog at 5/11/2012 8:00 AM | Add Comment

Under the law, penalties could range from censoring the Chinese affiliate to barring it from certifying the audits of companies whose securities are traded in the United States.

Posted by J.M. Hamilton Blog at 5/11/2012 7:30 AM | Add Comment

NEW DELHI—India has launched an antitrust probe of Google Inc.'s online advertising business to investigate potential anticompetitive practices

Posted by J.M. Hamilton Blog at 5/8/2012 7:00 AM | Add Comment

The truth is no one forced AT&T to raise prices. AT&T just raised prices because it wanted to.

Posted by J.M. Hamilton Blog at 5/7/2012 7:30 PM | Add Comment

Stein was never prosecuted for her collaboration with the Vichy government, and her pro-Fascist ideology is often forgotten by those who hail her as a daring cultural progressive.

Posted by J.M. Hamilton Blog at 5/6/2012 5:30 PM | Add Comment

A horse can typically bring several hundred dollars at slaughter.

Posted by J.M. Hamilton Blog at 5/4/2012 2:30 PM | Add Comment

Instead, Mary Ann, 59, plans to go nowhere.

Posted by J.M. Hamilton Blog at 5/4/2012 10:00 AM | Add Comment

"Commodities markets are more loosely regulated than equity markets, and insider trading in commodities is not considered illegal unless there is price manipulation."

Posted by J.M. Hamilton Blog at 5/3/2012 8:00 PM | Add Comment

As the money has run out, an entrenched favors-for-votes culture is now coming unglued, and Greeks have become less forgiving of high-level missteps.

Posted by J.M. Hamilton Blog at 5/3/2012 6:00 PM | Add Comment

Privacy regulators in Britain and in France said they would review the F.C.C. report to determine whether further action was called for.

Posted by J.M. Hamilton Blog at 5/3/2012 11:00 AM | Add Comment

"These indictments remind us that Medicare is an attractive target for criminals, but it should also remind those criminals that they risk prosecution and prison time every time they submit a false claim," said Lanny Breuer

Posted by J.M. Hamilton Blog at 5/3/2012 10:00 AM | Add Comment

Mark Astarita, a securities lawyer who has represented dozens of brokerage firms, said it was an embarrassing mistake for Finra to let Mr. Blumenschein stay as a director after he agreed to the three-month ban.

Posted by J.M. Hamilton Blog at 5/2/2012 1:30 PM | Add Comment

After two weeks of mounting shareholder criticism about Mr. McClendon’s unusual compensation plan, Chesapeake announced on Tuesday that it would replace him as chairman

Posted by J.M. Hamilton Blog at 5/2/2012 12:30 PM | Add Comment

Chesapeake, based in Oklahoma City, Oklahoma, said the IRS review relates to its 2008 and 2009 tax returns and the company believes "that resolution of these issues will not have a material impact on the company," the filing said.

Posted by J.M. Hamilton Blog at 5/2/2012 7:28 AM | Add Comment

Mr. Issa, Ms. Lincoln, and Mr. Boren, like many lawmakers both Democratic and Republican who have backed the company, all received contributions over the years from Wal-Mart’s political action committee or employees.

Posted by J.M. Hamilton Blog at 5/2/2012 6:00 AM | Add Comment

Cyberattacks are new territory for the cartels, however. Asked who was behind the hacking, Bojórquez shrugs—it might have been the cartels

Posted by J.M. Hamilton Blog at 5/1/2012 8:00 PM | Add Comment

“One of the biggest questions that I still have is this is such a big institution, how are they evaluating the true effectiveness of their policies? It would be a good time for the board to start talking more broadly and more publicly about those question

Posted by J.M. Hamilton Blog at 5/1/2012 2:00 PM | Add Comment

“plata o plomo”

Posted by J.M. Hamilton Blog at 5/1/2012 9:31 AM | Add Comment

Both Murdochs in sworn testimony at a U.K. media-ethics inquiry last week blamed underlings for their failure to detect any wrongdoing at the now defunct News of the World newspaper.

Posted by J.M. Hamilton Blog at 5/1/2012 8:50 AM | Add Comment

Occupy-related events are planned in 115 cities throughout the U.S., from college towns such as Amherst, Massachusetts, and Ann Arbor, Michigan, to Los Angeles, Houston, Chicago and Philadelphia.

Posted by J.M. Hamilton Blog at 5/1/2012 6:30 AM | Add Comment

The evidence from the Leveson inquiry could particularly increase the pressure on members of the committee from Prime Minister David Cameron's Conservative party, traditionally seen as close to the world's most powerful media tycoon.

Posted by J.M. Hamilton Blog at 4/30/2012 6:30 PM | Add Comment

Felipe Calderón, the Mexican president, said last week that he was “indignant” about the company’s behavior, and some elected officials across the United States joined the chorus of outrage.

Posted by J.M. Hamilton Blog at 4/30/2012 1:00 PM | Add Comment

Lawmakers Rethink Bankruptcy-Law Ban on Walking Away From Education Loans

Posted by J.M. Hamilton Blog at 4/29/2012 10:29 AM | Add Comment

Kindness and justice turn out to be useful concepts not just at the pulpit or among philosophers, but also as essential tools in the workplace.

Posted by J.M. Hamilton Blog at 4/29/2012 7:30 AM | Add Comment

“For me, a bonus is roughly 10 percent of the salary. What they have is just unbalanced.”

Posted by J.M. Hamilton Blog at 4/28/2012 7:00 AM | Add Comment

The Securities and Exchange Commission has begun an informal inquiry into Mr. McClendon’s financial arrangements. Some analysts have called for the company to appoint an independent board chairman.

Posted by J.M. Hamilton Blog at 4/27/2012 11:00 AM | Add Comment

A spokesman for prosecutors in Los Angeles said he couldn't confirm details of a continuing investigation. The SEC declined to comment.

Posted by J.M. Hamilton Blog at 4/27/2012 9:29 AM | Add Comment

“We are taking a deep look at our policies and procedures in every country in which we operate,” said David Tovar, a Wal-Mart spokesman.

Posted by J.M. Hamilton Blog at 4/26/2012 12:00 AM | Add Comment

Mr. Young admitted that he went along with the plan because he was taken with the rewards that would come from having a friend who was “the most powerful person on earth.”

Posted by J.M. Hamilton Blog at 4/25/2012 2:00 PM | Add Comment

In the last year, both the S.E.C. and the Justice Department have increased investigations under the Foreign Corrupt Practices Act, known as F.C.P.A., which forbids American companies from making illegal payments to government officials

Posted by J.M. Hamilton Blog at 4/25/2012 1:00 PM | Add Comment

Somebody from MF Global has to be arrested soon. The message otherwise to middle America is so galling that it boggles the mind.

Posted by J.M. Hamilton Blog at 4/25/2012 12:30 PM | Add Comment

The toughest questions zeroed in on News Corp.'s close relationship with Jeremy Hunt, the U.K. Secretary of State for Culture, Media, Olympics and Sport, the minister who ultimately became responsible for deciding whether to approve News Corp.'s bid

Posted by J.M. Hamilton Blog at 4/25/2012 9:00 AM | Add Comment

The long-running tabloid newspaper scandal that has shaken Rupert Murdoch’s global media empire appeared on Tuesday to have reached into the heart of Prime Minister David Cameron’s government

Posted by J.M. Hamilton Blog at 4/25/2012 7:00 AM | Add Comment

Here is how a money laundering transaction might work, according to regulatory experts:

Posted by J.M. Hamilton Blog at 4/24/2012 5:29 PM | Add Comment

“If they’re holding it, they’re earning a profit on that money, because they’re investing it,” said Jack Stollsteimer, director of Pennsylvania’s Bureau of Unclaimed Property.

Posted by J.M. Hamilton Blog at 4/24/2012 4:00 PM | Add Comment

A Whiff of Corruption, and the Stock Price Falls...

Posted by J.M. Hamilton Blog at 4/24/2012 3:00 PM | Add Comment

Spokesmen for Rep. Darrell Issa (R., Calif.), chairman of the House Oversight Committee, and Rep. Fred Upton (R., Mich.), chairman of the House Energy and Commerce Committee, didn't immediately respond to requests for comment.

Posted by J.M. Hamilton Blog at 4/24/2012 11:30 AM | Add Comment

IF Your Party Can't Win Through Its Ideas... Why Not Purchase the Election?

Posted by J.M. Hamilton Blog at 4/24/2012 11:14 AM | Add Comment

“In light of the vote, Chief Lee will remain on paid administrative leave while an investigation continues into the handling of the Trayvon Martin case by the Sanford Police Department, Mr. Bonaparte said.

Posted by J.M. Hamilton Blog at 4/24/2012 7:00 AM | Add Comment

Customers of MF Global Holdings Ltd. are pushing regulators to get tougher on J.P. Morgan Chase & Co. about money that went missing from accounts just before the firm's collapse.

Posted by J.M. Hamilton Blog at 4/23/2012 1:30 PM | Add Comment

“The danger for them, the Chinese, is that the whole of the Politburo and their Central Committee colleagues will be exposed as a new property-owning class,” said Roderick MacFarquhar, a Harvard University professor

Posted by J.M. Hamilton Blog at 4/23/2012 11:30 AM | Add Comment

The employee-shareholder proposal comes as the company has been lowering the bar for executive performance pay.

Posted by J.M. Hamilton Blog at 4/22/2012 4:00 PM | Add Comment

The New York Attorney General’s Office is pursuing a separate civil fraud suit relating to the Merrill takeover that began under former Attorney General Andrew Cuomo.

Posted by J.M. Hamilton Blog at 4/22/2012 11:30 AM | Add Comment

These details were scrubbed from the final version sent to Bentonville.

Posted by J.M. Hamilton Blog at 4/22/2012 12:01 AM | Add Comment

A 2009 report by the U.S. Government Accountability Office found that under former Chairman Christopher Cox, who served from 2005 to 2009, management at the SEC actively discouraged enforcement attorneys from bringing cases.

Posted by J.M. Hamilton Blog at 4/20/2012 8:00 PM | Add Comment

However, it is not the first time Goldman's name has arisen in the Gupta matter.

Posted by J.M. Hamilton Blog at 4/20/2012 5:00 PM | Add Comment

But all of us, with the exception of the independently wealthy and the unemployed, take money for the use of our bodies.

Posted by J.M. Hamilton Blog at 4/20/2012 2:00 PM | Add Comment

What is missing is the accountability that comes from real consequences: a criminal prosecution that holds responsible the individuals who gambled with the lives of BP’s contractors and the ecosystem of the Gulf of Mexico.

Posted by J.M. Hamilton Blog at 4/20/2012 8:15 AM | Add Comment

Specifically, the amended rule requires mutual funds and other investment companies to register as “commodity pool operators” if they engage in non-hedging commodities trading in excess of certain thresholds, or if they make certain statements identifying

Posted by J.M. Hamilton Blog at 4/20/2012 8:00 AM | Add Comment

“The $8 billion exemption level is far too high and far higher than was originally proposed last year. I think this demonstrates the enormous lobbying effort of Wall Street and major energy and commodity companies that have been working to undermine Dodd-

Posted by J.M. Hamilton Blog at 4/20/2012 5:15 AM | Add Comment

But when regulators first proposed the rules in late 2010, they set the de minimis exemption at $100 million.

Posted by J.M. Hamilton Blog at 4/19/2012 7:00 PM | Add Comment

“There has absolutely been collateral damage. Unfortunately, having big-name auditors and bankers behind a company doesn’t guarantee it’s free of issues.”

Posted by J.M. Hamilton Blog at 4/19/2012 5:15 PM | Add Comment

Firms controlled by Aubrey McClendon, the high-profile founder and chief executive of Chesapeake Energy Corp., were in debt to a private equity group for as much as $1.4 billion

Posted by J.M. Hamilton Blog at 4/19/2012 11:30 AM | Add Comment

Backpage is owned by Village Voice Media, and significant minority stakes have been held in recent years by Goldman Sachs and smaller financial firms such as Trimaran Capital Partners and Alta Communications.

Posted by J.M. Hamilton Blog at 4/19/2012 6:15 AM | Add Comment

But I’d still like to see a story on who’s making these life-and-death decisions and how. Ditto liver transplants. And, again, not just the processes but the people in charge as well as those on the front lines.

Posted by J.M. Hamilton Blog at 4/18/2012 11:59 PM | Add Comment

“Banks could easily use portfolio-based hedging to mask proprietary trading,” Democratic Senators Jeff Merkley of Oregon and Carl Levin of Michigan

Posted by J.M. Hamilton Blog at 4/18/2012 7:15 PM | Add Comment

In a short sale, an investor borrows shares and sells them with the goal of profiting from a price decline by repurchasing at a lower price and repaying the loan.

Posted by J.M. Hamilton Blog at 4/17/2012 7:00 PM | Add Comment

Professionals "are routinely presented with the opportunity to commit insider trading offenses, and, thus, higher sentences are needed to ensure that those temptations will not be acted upon."

Posted by J.M. Hamilton Blog at 4/16/2012 6:59 PM | Add Comment

On Saturday, federal regulators charged that Google had “deliberately impeded and delayed” an investigation into the data collection and ordered a $25,000 fine on the search giant.

Posted by J.M. Hamilton Blog at 4/15/2012 11:00 AM | Add Comment

He called it “lean finely textured beef.” McDonald’s Corp. (MCD), Wal-Mart Stores Inc., Burger King Worldwide Holdings Inc., Kroger Co., and Yum! Brands (YUM) Inc.’s Taco Bell chain used it.

Posted by J.M. Hamilton Blog at 4/13/2012 8:32 PM | Add Comment

In one of the first tests of its willingness to show its muscle, the new agency created to protect consumers declined on Thursday to put up a fight.

Posted by J.M. Hamilton Blog at 4/13/2012 5:00 PM | Add Comment

A noir hero is a moral realist. He assumes that everybody is dappled with virtue and vice, especially himself.

Posted by J.M. Hamilton Blog at 4/13/2012 11:15 AM | Add Comment

“For security reasons, the board requires the chairman and CEO to use company aircraft for both personal and business travel,” Exxon said in the filing.

Posted by J.M. Hamilton Blog at 4/13/2012 7:15 AM | Add Comment

Gov. Scott Walker of Wisconsin is struggling to fight off a determined effort to replace him in an extraordinary recall election scheduled for June 5.

Posted by J.M. Hamilton Blog at 4/12/2012 10:00 AM | Add Comment

Spy Gear Used in Bahrain Too

Posted by J.M. Hamilton Blog at 4/12/2012 6:15 AM | Add Comment

Some publishers hit back at the allegations, saying they did nothing wrong and were acting to prevent Amazon from taking a dominant position in e-book retailing.

Posted by J.M. Hamilton Blog at 4/11/2012 8:01 PM | Add Comment

In a speech Monday night, Mr. Bernanke highlighted the lack of progress in overhauling something called the tri-party repo market, through which banks and other financial firms borrow and lend money.

Posted by J.M. Hamilton Blog at 4/11/2012 7:00 PM | Add Comment

Wu’s lawyer says his client, now 30, was unfairly singled out and is no different from the estimated 42 million Chinese business owners who rely on the shadow-banking system

Posted by J.M. Hamilton Blog at 4/11/2012 12:30 PM | Add Comment

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