Letter To Eric Schneiderman, Attorney General, New York State

Mr. Schneiderman,

I applaud your efforts to get to the bottom of the foreclosure mess in New York State and would ask you to keep your investigations separate from the proposed multi-state or Federal deal being pushed by the Administration in Washington. Maintain your independence.

There are several reasons that I urge you to do so. There has been scant investigation by the . . . → Read More: Letter To Eric Schneiderman, Attorney General, New York State

Anit-Employee Control Fraud

Bill Black has continually been on the watch for what he calls “control-frauds” which are just frauds by management of a company to hide illegal and/or greedy behavior. In a new article Anti-Employee Control Fraud in New Economic perspectives he departs from his usual target of banking to look at the recent news about Apple’s supply chain.

Businesses that pursue anti-employee behavior in . . . → Read More: Anit-Employee Control Fraud

Bad loans made boldly

I have heard it said by my friends that the mortgage crisis was caused by individuals taking on more mortgage than they could pay for, then refusing to pay up when the music stopped. In Everything You Need to Know About Wall Street, in One Brief Tale Matt Taibbi nails this, this way:

At one point during these deals, Verschleiser reamed out his . . . → Read More: Bad loans made boldly