Author Archive

Speaking Engagements/Conferences

By Francine • Apr 15th, 2014

Coming up: A visit to Old Dominion University and the Hampton Roads Economic Club and Benedictine University, Lisle, IL.

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e-Books On MF Global, AIG, Goldman Sachs, PwC and Careers

By Francine • Mar 30th, 2014

The MF Global Holdings Bankruptcy Plan Administrator filed a lawsuit on March 29 for professional malpractice and breach of contract against PwC as auditor of MF Global Holdings. I will be writing about the complaint and the status of the case early next week. In the meantime, you can review all I’ve written prior. I’ve updated this post with additional links as well as a link to my e-book compilation of MF Global columns from all sources that has material going back to its roots in the Refco fraud.

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McKenna Gives Luncheon Keynote For Professional Liability Defense Federation Annual Meeting

By Francine • Oct 11th, 2013

I was the luncheon speaker on October 10, 2013 at the annual meeting of the Professional Liability Defense Federation (PLDF). Here is the text of my remarks.

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McKenna Speaks: The Committee For Monetary Research And Education

By Francine • Sep 2nd, 2013

Do you want to learn more about those who push for a return to the gold standard? Do you know the common thread between JP Morgan, Madoff’s biggest feeder fund, Chesapeake Energy, and MF Global? Here’s a speech I gave back in May 2012 in New York to the Committee for Monetary Research and Education that touches on both topics.

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Updated Review of Connaughton’s “The Payoff”

By Francine • Aug 25th, 2013

An updated review of Jeff Connaughton’s great book from last year, “The Payoff: Why Wall Street Always Wins” over at Medium.com and some more books to read before summer’s over.

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Jamie Dimon (And JP Morgan) Besieged

By Francine • Aug 20th, 2013

A blog post at Medium.com last Friday updated everyone with the latest on the JP Morgan “Whale” traders who were indicted last week and assorted other energy trading and mortgage related investigations. But there’s more!

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On Herbalife And The Slow Death Of Value Investing

By Francine • Aug 3rd, 2013

Big egos making shares move by waving their wands. That makes picking stocks based on fundamental analysis more than slightly anachronistic. A bit about Herbalife…

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The Problem Of An Audit Firm Market Exit: New Research From University of Chicago Booth School of Business

By Francine • Jul 29th, 2013

A post at University of Chicago Booth School of Business Capital Ideas blog discusses new research from Joseph Gerakos and Chad Syversen on the dangers of industry concentration in the event of a market exit by one of the large audit firms. For example, what if PwC, which audits five of the top ten global pharma companies ran into trouble amid the ongoing investigations of bribery of Chinese officials, in particular by PwC audit client GlaxoSmithKline and a few of its other audit clients?

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In Pari Delicto: Can A Law Make It Go Away?

By Francine • Jul 27th, 2013

Pete Brush at Law.com did a story last week about a story about in pari delicto, the adverse interest exception, and holding third-parties like auditors liable for fraud in bankruptcy cases. I was quoted.

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The Indictment of S.A.C. Capital Advisors: Where Was The Auditor?

By Francine • Jul 26th, 2013

Unfortunately, regulatory supervision of investment advisors, broker-dealers, and their auditors leaves a lot to be desired. PwC missed years of illegal activity at S.A.C. Capital Advisors. If only we could say that’s the first time.

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