BLOG.JMHAMILTONPUBLISHING.COM: Category Archive for Ethics

“These people are addicted to credit, and banks are pushing it,” said Charles Juntikka, a bankruptcy lawyer in Manhattan.

Posted by J.M. Hamilton Blog at 4/11/2012 12:00 PM | Add Comment

"The SEC's weak settlements need scrutiny," Mr. Grassley said. "The lack of accountability from Wall Street encourages recidivism."

Posted by J.M. Hamilton Blog at 4/11/2012 11:29 AM | Add Comment

The law also rolls back rules designed to prevent bank analysts from talking up a stock just to win business, a practice that was so pervasive in the tech-boom years as to be almost industry standard.

Posted by J.M. Hamilton Blog at 4/10/2012 5:30 AM | Add Comment

Would the Volcker Rule harpoon the London Whale?

Posted by J.M. Hamilton Blog at 4/9/2012 7:29 PM | Add Comment

“I wrote provocative language on my website that could have been perceived as threatening,” McCrudden told the judge. “I would never intentionally hurt or cause bodily harm to another human being.”

Posted by J.M. Hamilton Blog at 4/9/2012 6:30 PM | Add Comment

WARNING GRAPHIC LANGUAGE: The Cobra Kai of the NFL

Posted by J.M. Hamilton Blog at 4/8/2012 7:30 PM | Add Comment

Just a day after the report came out, the board adopted the disciplinary commission’s recommended reforms. But the commission’s decision to dismiss the favoritism charge against Justice Gonzalez remains troubling.

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

Filmmakers and farmers, gun makers and real estate agents, and people in dozens of other industries say the rules under consideration by the Obama administration would choke off their ability to have a mutually beneficial dialogue with government official

Posted by J.M. Hamilton Blog at 4/7/2012 6:30 AM | Add Comment

The most rapid advances in veterinary medicine have taken place in the treatment of cancer, propelled by the latest diagnostic technology like CT scanners and M.R.I. machines.

Posted by J.M. Hamilton Blog at 4/6/2012 6:00 PM | Add Comment

Florida was long the nation's epicenter for pill mills.

Posted by J.M. Hamilton Blog at 4/6/2012 2:30 PM | Add Comment

City Council is sensibly preparing tight security precautions for the downtown area by temporarily banning clubs, hatchets, switchblades, pepper spray, slingshots, chains, shovels and all manner of guns that shoot water, paint or air. But not handguns

Posted by J.M. Hamilton Blog at 4/6/2012 12:00 PM | Add Comment

“I have in particular observed in the New Orleans Police Department that the code of silence was seemingly impenetrable.”

Posted by J.M. Hamilton Blog at 4/5/2012 1:00 PM | Add Comment

In India, reported to have more child laborers than any other country in the world, child labor and trafficking are often considered symptoms of poverty

Posted by J.M. Hamilton Blog at 4/5/2012 11:00 AM | Add Comment

Hon Hai, which makes Apple's iPhones and iPads under contract, has been facing pressure to improve wages and working conditions since several employee suicides at its facility in Shenzen in 2010

Posted by J.M. Hamilton Blog at 4/5/2012 9:30 AM | Add Comment

The G.S.A. is a very large agency with the not-always-glamorous mission of providing support services for the federal bureaucracy, some involving the management of public buildings.

Posted by J.M. Hamilton Blog at 4/5/2012 7:45 AM | Add Comment

The End of Labor Arbitrage? Not Quite.

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

It is unclear whether JPMorgan knew the money belonged to clients. But in the view of regulators, it should have — the customer funds were kept at a JPMorgan account.

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

Computerized stock trading now accounts for two-thirds or more of all trading volume, experts say.

Posted by J.M. Hamilton Blog at 4/4/2012 9:45 AM | Add Comment

One of JP Morgan's most senior bankers resigned abruptly on Tuesday, after being fined by Britain's financial watchdog for market abuse related to inside information on Heritage Oil

Posted by J.M. Hamilton Blog at 4/3/2012 3:30 PM | Add Comment

Goldman Sachs was mortified when I began inquiring last week about its stake in America’s leading Web site for prostitution ads. It began working frantically to unload its shares

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

Greek companies, whether public or private, are not required to publicly register all their shareholders and there is no public register of directorships.

Posted by J.M. Hamilton Blog at 4/2/2012 3:30 PM | Add Comment

In a statement, Apple said, “Our team has been working for years to educate workers, improve conditions and make Apple’s supply chain a model for the industry, which is why we asked the F.L.A. to conduct these audits.”

Posted by J.M. Hamilton Blog at 4/2/2012 10:00 AM | Add Comment

“It’s been like banging your head against the wall and getting nowhere,” said Mr. Kaplan, who like most other MF Global clients has received only 72 percent of his money.

Posted by J.M. Hamilton Blog at 4/2/2012 7:45 AM | Add Comment

Sherlock Holmes is back. We're not talking Robert Downey Jr., but rather Howard Schilit, 60, arguably America's pre-eminent forensic accountant.

Posted by J.M. Hamilton Blog at 4/2/2012 6:00 AM | Add Comment

In summary, we argue that the antidote to excessive risk-taking should come from the elimination of the subsidies of the banking charter and the implicit promise of bailout in case of major losses

Posted by J.M. Hamilton Blog at 4/1/2012 6:30 PM | Add Comment

For years, unsuspecting Navajos inhaled radioactive dust and drank contaminated well water. Many of them became sick with cancer and other diseases.

Posted by J.M. Hamilton Blog at 4/1/2012 2:00 PM | Add Comment

Manufacturers grappling with rising labor costs and worker demands in China could face further pressure if a critical probe of a major Apple supplier sets a new standard for China's factory workers

Posted by J.M. Hamilton Blog at 3/31/2012 5:30 PM | Add Comment

Ratings being assigned by Standard & Poor’s in a $730 million mortgage-bond deal by Credit Suisse Group AG (CSGN) are too high, according to Fitch Ratings.

Posted by J.M. Hamilton Blog at 3/31/2012 8:00 AM | Add Comment

Recently, New Mexico became the first state to totally ban the use of a therapeutic drug that mimics the muscle-building qualities of steroids.

Posted by J.M. Hamilton Blog at 3/30/2012 11:00 AM | Add Comment

As Predicted by J.M. Hamilton... Apple Grows a Conscience!

Posted by J.M. Hamilton Blog at 3/30/2012 9:00 AM | Add Comment

Apple fell after the report was released, dropping 1.3 percent to $609.86 at the close in New York. “The eyes of the world are on them and there’s just no way they can’t deliver,” said FLA President Auret van Heerden. “It’s a real showstopper.”

Posted by J.M. Hamilton Blog at 3/30/2012 7:00 AM | Add Comment

The 10 employees had helped oversee AIG's life-settlement business, in which large investors pay individuals up front for the right to collect on their life-insurance policies once they die.

Posted by J.M. Hamilton Blog at 3/29/2012 7:15 PM | Add Comment

“Apple has had a string of negative publicity this year with Foxconn factory issues,” said Mark Natkin

Posted by J.M. Hamilton Blog at 3/29/2012 1:30 PM | Add Comment

Japanese securities regulators Wednesday sought additional charges against Olympus Corp.

Posted by J.M. Hamilton Blog at 3/28/2012 4:30 PM | Add Comment

The British Bankers’ Association said a panel of lenders will review the London interbank offered rate, including some banks being probed for allegedly manipulating the benchmark.

Posted by J.M. Hamilton Blog at 3/28/2012 10:15 AM | Add Comment

The new rules were part of a broad set of changes announced on Tuesday in the aftermath of the cheating cases, in which high-scoring students used fake IDs to take the SAT or ACT for other students.

Posted by J.M. Hamilton Blog at 3/28/2012 9:15 AM | Add Comment

"Most of what I see is people with a prescription from their doctors and they need the money," said Austin, Indiana Police Detective Lonnie Noble. He said the appetite for Opana is "more aggressive" than it was for Oxycontin.

Posted by J.M. Hamilton Blog at 3/27/2012 4:30 PM | Add Comment

Under U.S. law, student loans can rarely be discharged, even in bankruptcy, making them more difficult to shake than credit cards or past-due mortgages.

Posted by J.M. Hamilton Blog at 3/27/2012 3:30 PM | Add Comment

The transfer of $175 million, along with other transfers of customer money, ultimately left farmers, traders and other clients of MF Global missing about $1 billion of their money.

Posted by J.M. Hamilton Blog at 3/26/2012 10:58 AM | Add Comment

McDonald's said it would stop buying hamburger containing what the industry calls "finely textured beef," and the USDA has said school districts can opt out of feeding it to children.

Posted by J.M. Hamilton Blog at 3/26/2012 9:31 AM | Add Comment

Some recent Justice Department antitrust matters:

Posted by J.M. Hamilton Blog at 3/26/2012 8:30 AM | Add Comment

Justice Kennedy cited James Madison in The Federalist in noting that “factions” in American democracy can be “checked” by ensuring that all of them can speak freely and “by entrusting the people to judge what is true and what is false.”

Posted by J.M. Hamilton Blog at 3/26/2012 6:30 AM | Add Comment

Unfortunately, in today’s political environment, even absurd arguments have the power to delay or derail vital reforms. Republican lawmakers, with some Democratic support, have proposed legislation to roll back the rules...

Posted by J.M. Hamilton Blog at 3/25/2012 7:45 AM | Add Comment

On average, 24 horses die each week at racetracks across America.

Posted by J.M. Hamilton Blog at 3/25/2012 7:30 AM | Add Comment

"I hope that happens; the appalling tactics of N.C.A.A. investigators have long remained hidden away, in secret files the general public never gets to see. They deserve a public airing."

Posted by J.M. Hamilton Blog at 3/24/2012 12:00 PM | Add Comment

The "muppet" email search was earlier reported by Reuters.

Posted by J.M. Hamilton Blog at 3/23/2012 7:15 PM | Add Comment

Jon S. Corzine gave specific instructions to an MF Global Holdings Ltd. employee in Chicago to move $200 million from a segregated customer account that contributed to an estimated $1.6 billion shortfall in customer funds

Posted by J.M. Hamilton Blog at 3/23/2012 6:25 PM | Add Comment

The Volcker rule has been the subject of lobbying by the financial-services industry.

Posted by J.M. Hamilton Blog at 3/23/2012 1:00 PM | Add Comment

The Justice Department has accused AT&T of knowing that a calling service it offered for the deaf was being used by Nigerian swindlers and others to steal from American merchants.

Posted by J.M. Hamilton Blog at 3/23/2012 9:30 AM | Add Comment

In essence, the government alleges, AT&T's operators became mouthpieces for the scam artists.

Posted by J.M. Hamilton Blog at 3/23/2012 9:00 AM | Add Comment

The lopsided votes showed lawmakers desperate to regain public trust in an election year, when the public approval rating of Congress has sunk below 15 percent.

Posted by J.M. Hamilton Blog at 3/22/2012 8:15 PM | Add Comment

Volcker said. “Strong resistance to the principles involved by affected institutions, each with deep pockets and phalanxes of lobbyists, shouldn’t be surprising.”

Posted by J.M. Hamilton Blog at 3/22/2012 7:30 PM | Add Comment

“I haven’t found an investment bank that hasn’t had some problem in the last three years,” California Treasurer Bill Lockyer said... “We do business with them all. I think they provide good service. I think they’ve been highly ethical with us."

Posted by J.M. Hamilton Blog at 3/22/2012 7:15 PM | Add Comment

FHFA has tightened its scrutiny of Fannie Mae and Freddie Mac's expenditures, which have been criticized by lawmakers.

Posted by J.M. Hamilton Blog at 3/22/2012 3:30 PM | Add Comment

Bloomberg's Su Keenan reports on Wall Street's move into the landlord business. She speaks on Bloomberg Television's "Money Moves." (Source: Bloomberg)

Posted by J.M. Hamilton Blog at 3/22/2012 7:30 AM | Add Comment

"Goldman's sudden -- and prescient -- shift to reducing subprime risk supports the inference that it possessed some unique insight" about the "bittersweet potion" of CDOs it was selling, Marrero wrote in a 64-page decision.

Posted by J.M. Hamilton Blog at 3/22/2012 3:45 AM | Add Comment

“His crimes deprived Morgan Stanley of the honest services of its employee, diverted valuable corporate time and energy in the defense of Skowron and FrontPoint, and injured Morgan Stanley’s reputation,” Judge Cote wrote.

Posted by J.M. Hamilton Blog at 3/21/2012 4:00 PM | Add Comment

'Corzine Rule'

Posted by J.M. Hamilton Blog at 3/21/2012 1:30 PM | Add Comment

OF COURSE...

Posted by J.M. Hamilton Blog at 3/21/2012 9:55 AM | Add Comment

REGULATING ETHICS?

Posted by J.M. Hamilton Blog at 3/20/2012 7:00 PM | Add Comment

t held, as C. S. Lewis put it, that there is no such thing as an ordinary person. Each person you sit next to on the bus is capable of extraordinary horrors and extraordinary heroism.

Posted by J.M. Hamilton Blog at 3/20/2012 7:45 AM | Add Comment

And yet, if Mr. Ravi spends years in prison, his case will set an alarming precedent of disproportional punishment. The spying he did was criminal, but it was also, as his lawyer put it, “stupid kid” behavior.

Posted by J.M. Hamilton Blog at 3/20/2012 7:00 AM | Add Comment

It prompted a listener to start a petition calling for better working conditions for Apple’s Chinese employees, according to the statement.

Posted by J.M. Hamilton Blog at 3/17/2012 2:00 PM | Add Comment

On Wednesday, Howard Schultz, the chairman and chief executive of Starbucks, will take the podium at his company’s annual meeting and talk about the importance of morality in business.

Posted by J.M. Hamilton Blog at 3/17/2012 7:45 AM | Add Comment

“I understand it all too well.”

Posted by J.M. Hamilton Blog at 3/15/2012 6:15 PM | Add Comment

Mary Schapiro, SEC chairwoman, warned in a six-page letter to Congress this week that she was concerned the (JOBS) bill could eliminate important protections for investors, even in some relatively large public companies.

Posted by J.M. Hamilton Blog at 3/15/2012 7:55 AM | Add Comment

Executives of CME Group Inc., the exchange operator that presided over MF Global's operations in life and after its collapse, have said it was unlikely that any regulation could have prevented the debacle since MF Global allegedly broke customer-(rules)..

Posted by J.M. Hamilton Blog at 3/12/2012 6:31 PM | Add Comment

“This is not the time for the United States to be condoning corruption,” Mr. Breuer said. “We are a world leader and we want to do everything to make sure that business is less corrupt, not more.”

Posted by J.M. Hamilton Blog at 3/11/2012 12:05 PM | Add Comment

In 2010, several technology companies agreed to settle Justice Department allegations that they colluded to hold down wages by improperly agreeing not to poach each other's employees.

Posted by J.M. Hamilton Blog at 3/8/2012 8:25 PM | Add Comment

The fee, of course, was not disclosed, nor was the Kinder Morgan stake owned by Goldman Sachs’s private equity arm, worth some $4 billion.

Posted by J.M. Hamilton Blog at 3/8/2012 8:45 AM | Add Comment

“These trades are structured not to be unwound, and Goldman is ruthless about ensuring that its interests aren’t compromised -- it’s part of the DNA of that organization.”

Posted by J.M. Hamilton Blog at 3/6/2012 7:21 AM | Add Comment

Bankers say it is unfair for the Fed to release more information than it did during the initial 2009 stress tests.

Posted by J.M. Hamilton Blog at 3/5/2012 7:30 PM | Add Comment

Several major global banks, including Citigroup Inc, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and UBS AG, have disclosed that they have been approached by authorities investigating how Libor is set.

Posted by J.M. Hamilton Blog at 2/29/2012 9:35 AM | Add Comment

"It's cheaper to pay a monthly retainer to a lawyer than a $20,000 mortgage payment on an underwater loan," says Christopher Fountain, a Greenwich, Conn., real-estate broker.

Posted by J.M. Hamilton Blog at 2/28/2012 7:13 PM | Add Comment

An army of lawyers and regulators has been struggling to reclaim about $1.6 billion in funds that belong to farmers, grain operators and traders like hedge funds.

Posted by J.M. Hamilton Blog at 2/27/2012 7:18 PM | Add Comment

Gordon Gekko, the character played by actor Michael Douglas in the movie “Wall Street,” is the New York FBI office’s newest weapon in its arsenal to combat insider trading.

Posted by J.M. Hamilton Blog at 2/27/2012 6:31 PM | Add Comment

The testimony may prove damaging to the News Corporation, the American-based parent of Mr. Murdoch’s media empire, if it gives ammunition to the F.B.I. and other agencies that are investigating the company for possible prosecution under the Foreign Corrup

Posted by J.M. Hamilton Blog at 2/27/2012 6:03 PM | Add Comment

Just like the general public, we along with many others in the finance world, were outraged and furious at colleagues who had damaged, if not destroyed, our livelihoods.”

Posted by J.M. Hamilton Blog at 2/27/2012 2:36 PM | Add Comment

The allegations paint a picture of executives hell-bent on loading their companies with shaky loans to boost their bonuses.

Posted by J.M. Hamilton Blog at 2/26/2012 7:30 AM | Add Comment

Apple was continuing “active discussions” about what to do with its $97.6 billion in cash and investments, saying the cash hoard was “more than we need to run a company.”

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

Moral hazard sounds like the name of a video game set in a bordello, but in economic terms it refers to the undue risks that people are apt to take if they don’t have to bear the consequences.

Posted by J.M. Hamilton Blog at 2/26/2012 7:08 AM | Add Comment

Federal inquiries surrounding Mr. Buchanan appear to be widening, as investigators examine allegations that his companies improperly reimbursed contributors to his campaigns and claimed improper tax deductions

Posted by J.M. Hamilton Blog at 2/24/2012 7:18 AM | Add Comment

Banks Critical of Rule They Wrote! Lobby Foreign Government Involvement!

Posted by J.M. Hamilton Blog at 2/23/2012 5:19 PM | Add Comment

Ms. Schapiro said that she believed recidivism among Wall Street firms was so common “in part because these firms are enormous.”

Posted by J.M. Hamilton Blog at 2/23/2012 5:17 PM | Add Comment

The inquiry by the agency, known as OSHA, was spurred by protests last August by hundreds of foreign students working in the plant

Posted by J.M. Hamilton Blog at 2/22/2012 6:48 AM | Add Comment

The Federal Reserve has operated almost entirely behind closed doors as it rewrites the rule book governing the U.S. financial system

Posted by J.M. Hamilton Blog at 2/21/2012 7:23 PM | Add Comment

Since the end of 2008, the island’s banks have forgiven loans equivalent to 13 percent of gross domestic product

Posted by J.M. Hamilton Blog at 2/20/2012 7:22 PM | Add Comment

Public views on court operations matter because they reflect concern about the court’s isolation, secrecy and lack of impartiality.

Posted by J.M. Hamilton Blog at 2/20/2012 6:31 AM | Add Comment

“I believe we’re going to see some very significant announcements in the near future.”

Posted by J.M. Hamilton Blog at 2/17/2012 8:08 PM | Add Comment

Human rights advocates have long said that Foxconn City’s 230,000 employees are subjected to long hours, coerced overtime and harsh working conditions, all of which Foxconn disputes.

Posted by J.M. Hamilton Blog at 2/17/2012 6:43 AM | Add Comment

Regulators worldwide are investigating whether banks attempted to manipulate the London, Tokyo and euro interbank offered rates, known as Libor, Tibor and Euribor.

Posted by J.M. Hamilton Blog at 2/16/2012 6:58 PM | Add Comment

An audit by San Francisco county officials of about 400 recent foreclosures there determined that almost all involved either legal violations or suspicious documentation

Posted by J.M. Hamilton Blog at 2/16/2012 6:43 AM | Add Comment

JPMorgan Chase & Co., Deutsche Bank AG (DBK) and HSBC Holdings Plc (HSBA) are among at least seven firms accused by another bank of participating in a conspiracy to manipulate the price of derivatives worldwide

Posted by J.M. Hamilton Blog at 2/15/2012 7:27 PM | Add Comment

J.M. Hamilton: Always Cutting Edge... Often Prescient!

Posted by J.M. Hamilton Blog at 2/14/2012 7:50 PM | Add Comment

The Sun was the most loyal to Murdoch. It was closest to his heart. Now Sun journalists believe he has launched a witch hunt to protect himself.

Posted by J.M. Hamilton Blog at 2/14/2012 7:41 PM | Add Comment

Last week, Mr. Giddens announced that MF Global’s commodity customers are owed at least $1.6 billion.

Posted by J.M. Hamilton Blog at 2/14/2012 7:37 PM | Add Comment

In a two-part letter filed with regulators, Mr. Volcker dismissed many of the financial industry's complaints as "futile stonewalling." One of the country's biggest pension funds also applauded the rule.

Posted by J.M. Hamilton Blog at 2/14/2012 5:55 AM | Add Comment

Volcker Rule: “It’s part of their ongoing strategy — if you can’t kill the rule, you may as well delay it as long as possible.”

Posted by J.M. Hamilton Blog at 2/14/2012 5:33 AM | Add Comment

Apple’s chief executive, said, “We believe that workers everywhere have the right to a safe and fair work environment, which is why we’ve asked the F.L.A. to independently assess the performance of our largest suppliers.”

Posted by J.M. Hamilton Blog at 2/14/2012 5:30 AM | Add Comment

Last week, coordinated protests of worker abuses occurred at Apple stores around the world.

Posted by J.M. Hamilton Blog at 2/13/2012 7:42 PM | Add Comment

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