Black, having become an expert criminologist (albeit noncredentialed at the time) through hands-on experience in the S&L cleanup, decided to get a doctorate in the field and now is an associate professor teaching both economics and law at the University of Missouri at Kansas City. He and his wife, June Carbone, had gone there in a package deal, but in 2013 she took a position at the University of Minnesota Law School. Black regularly drives 6½ hours on Interstate Highway 35 between Kansas City and their home in Minneapolis, where he is also a scholar-in-residence at Minnesota Law. … [Read more...] about Will those who led the financial system into crisis ever face charges?
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— How Morgan Stanley got its groove back. WSJ's Liz Hoffman: CEO James Gorman's "take-it-or-leave-it discipline has transformed Wall Street’s problem child into one of its steadiest performers. Its 2017 profits were nearly triple those of 2014. Its market value, as low as $7 billion during the financial crisis, surpassed $100 billion earlier this year. Morgan Stanley is more valuable on paper than Goldman Sachs Group Inc., once Wall Street’s undisputed king. Every big bank has changed since the financial crisis, but none as dramatically as Morgan Stanley under Mr. Gorman, who took the top job in 2010. His reboot offers a glimpse of Wall Street’s future: profitable enough, and with less of the outsize ambition and ego that drove firms toward the abyss a decade ago. … [Read more...] about The Finance 202: Beijing trade talks conclude with no progress. Get ready for a long slog.
The Top Ten White Collar Enforcement Questions Answered (or, Will the New Administration Enforce with Force?) 1. What has President Trump promised?Although President Trump has generally assailed government activity that stands in the way of the operation of business (including with regard to the FCPA, as discussed below), there is little to indicate President Trump’s views on white collar law enforcement. Nonetheless, there are numerous reasons to believe the Trump administration will continue to aggressively enforce what are commonly known as white collar crimes. The trend has been to enforce these crimes more aggressively under both Republican (George W. Bush) and Democratic (Obama) administrations. There is now an institutional apparatus to handle white collar enforcement, including dedicated FBI investigation resources, the creation of avenues to share information with foreign governments on white collar matters, established procedures to handle the large amount of data … [Read more...] about White Collar Enforcement and New Trump Administration: Your Top Ten Questions Answered
PUBLIC PUSHSome say federal prosecutors pushed the margins in their pursuit of former Illinois Gov. Rod Blagojevich. In an apparent effort to get information on the governor, prosecutors brought criminal charges against gubernatorial adviser Christopher Kelly three times in two years. He eventually pleaded guilty in two of the cases but then died in a suspected suicide. … [Read more...] about Aggressive Justice
FROM THE BLEACHERS“Chris, I hope you will rethink your dismissal of the concern from a reader who objects to reporting each school shooting as ‘the worst since…’ All these school shooters are young, white men. They do not live in notably violent neighborhoods. They DO seem to come largely from the cultural group that is into video gaming, some obsessively. In that world, keeping score competitively is a very big deal. Obviously no balanced kid is inspired to shoot up his school to ‘win’ a competition in his head, but these are not balanced kids—not an Eagle Scout among them. Isn’t it possible that reportage that feeds the twisted competitive impulse is at least a small contributing factor?” – Joanna Wragg, Bonita Springs, Fla.[Ed. note: Not dismissing! I certainly share that concern, as I discussed with the issue of identifying these killers by name and showing their pictures. I would caution you, though. What you say … [Read more...] about Fox News Power Rankings: Dem divides emerge