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What Happens Now That Julian Assange is Implicated in Russian Espionage?


Lost today in the extraordinary news frenzy surrounding the release of a video tape of Donald Trump making unprecedented lewd and obscene comments about women, was Barak Obama’s announcement that the United States officially and publicly accuses Russia of espionage in the hacking of the Democratic National Committee, and stealing documents, now in the possession of Wikileaks. Some may recall Julian Assange’s video interview with Bill Maher on HBO’s Real Time with Bill Maher about a month ago on this topic. It seems clear from the Bill Maher interview that Assange is on a jihad against the DNC because Clinton wanted to prosecute him. Assange has no altruistic motives — it is personal. We have a foreigner trying to influence U.S elections using documents stolen by Russia.

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The Rules of Sewage


This is a metaphorical essay on personal ethics, worthy of a serious read and contemplation. When I saw the title I was intrigued but suspected it had something to do with Andy Grove’s adage, “sewage flows downhill,” which means “if anything bad happens it will eventually flow down to you.” This is about ethics. The points made here are particularly apt in light of the huge number and sheer scale of recent business frauds: the Volkswagen fraud, LIBOR, Lehman Brothers, Bernie Madoff’s pyramid scheme, Conrad Black in Canada, Olympus in Japan, Bernie Ebbers and Worldcom, Tyco International, stretching back all the way to Enron, Michael Milken’s junk bonds, and the 1980’s savings & loan debacle.

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KPMG Canadian Tax Scheme Suspiciously Similar to UBS Tax Evasion Fraud


Canada is routinely cited as a boring backwater in financial services that has none of the scandals plaguing the rest of the industry. But in an extraordinary investigative report on The National, CBC’s Ian Hanomansing revealed an ongoing Canada Revenue Agency investigation, and a looming criminal investigation into KPMG Canada’s Isle of Man tax “haven” scheme reserved for its wealthiest clients. The report names names. Current Canadian government ministers are also implicated in apparent conflicts of interest.

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LIBOR 2: 15 Biggest Global Banks Face New Foreign Exchange Fraud Probe


It appears that international banking fraud and market manipulation continues unabated. The newest scandal brewing involves Swiss, British and American banks manipulating foreign currency exchange rates. The LIBOR fraud scandal has apparently done nothing to improve the ethics of the global financial services industry.

Less than two weeks ago I posted on this blog the revelation that banking authorities in Switzerland had opened an investigation into foreign exchange (arbitrage) fraud by Swiss banks. My report went on to say that the investigation was uncovering implications of broader involvement of banking institutions outside of Switzerland. Today, the Financial Times in London published an explosive article naming 15 global banks now implicated in the expanding investigation of global foreign exchange fraud and manipulation.

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PBS Frontline: The Untouchables…Corporate Crooks Too Big To Jail


PBS Frontline’s January 22nd broadcast will expose “The Untouchables,” the blatant criminal frauds perpetrated against us and the glaring lack of criminal prosecutions. Watch it.

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Aaron Swartz’s Alleged “Crime” And the Business of Breaking the Law


Not surprisingly the groundswell of reaction on the Internet today to the death of Aaron Swartz has focused on the obscene juxtaposition of the charges against Aaron, already dropped by MIT, the potential sentence of 30 years and  fine that he faced, set against the horrendous cases of corporate fraud, money laundering for drug cartels, Iran and Cuba, […]

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Corporate Fines Are Nothing More Than Tax Deductions


In yet another sign that applying monetary fines to corporations is nothing more than adding a “cost of doing business,” The New York Times reported Saturday that corporations routinely, not only pass on the cost of heavy regulatory fines to their shareholders and to consumers, they also write off the fines as corporate tax deductions. […]

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Sorry Saga of Sarbanes Oxley And It’s Global Effect


http://www.forbes.com/sites/frederickallen/2012/07/29/sarbanes-oxley-10-years-later-boards-are-still-the-problem/   This post on Forbes.com makes the point that corporate governance is still a major problem…and twigged me about the much broader implications of the failure to enforce Sarbanes Oxley. The Sarbanes Oxley legislation was passed by Congress with great fanfare over 10 years ago in the wake of the Enron scandal.  The potential penalties […]

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