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Chapter 21 of Sheila Bair’s book, “Bull By The Horns,” is a blow-by-blow account of the wrangling and dealmaking that resulted in two settlements that satisfy neither consumer advocates nor the borrowers that were harmed by abusive mortgage servicer activities.
Zynga is practically a wholly owned subsidiary of Facebook. At some point I think it will be, probably to actualize an online real-money gaming strategy.
Is this really the way to run a professional services firm?
The day my OpEd in the Financial Times was published, July 30, there were many other stories in other publications marking the occasion of Sarbanes-Oxley’s tenth anniversary. Most of them focused on the lack of prosecutions of CEOs and CFOs for false financial statement certification crimes.
We’re coming up on another weekend already and another summer holiday. Seems like we just enjoyed Memorial Day. Here in Chicago we wait all winter for summer so I don’t complain about the heat. I like the heat. Reminds me of Mexico…
My first feature article for Forbes magazine is out on the newsstands today.
Most initial news accounts of the Facebook S-1 focused on CEO Mark Zuckerberg’s Stalinist-like stranglehold on the stock, the strategy, and the board. Tim Carmody of Wired waited a while to file his story, after recording an hour of conversation with me on the phone a few Saturday afternoons ago, and Carmody got lucky. Apple announced some significant to changes in their corporate governance that contrasted sharply with Facebook and Zukerberg’s one-man band approach.
I do not believe the measure of a man or a woman is what they make. But in the case of the two MF Global CROs, the testimony they gave about their salaries, coming at the end in response to a question from a cranky Congressman from New Mexico, offered the perfect punchline.
Amazing but true, the MF Global story is still red hot, reason being $1.2 billion in customer funds is still missing. Here’s a recap of recent columns at Forbes and American Banker that have tracked new developments.
Lots of news and updates on MF Global, PricewaterhouseCoopers, JP Morgan, Jamie Dimon and the politics of money.
 Francine McKenna (@retheauditors) has more than twenty-five years of experience in consulting and professional services including tenure at two Big 4 firms, both in the US and abroad. Look for my column, "Accounting Watchdog" at Forbes.com and "Accountable" at American Banker. For more information, click "About" at the bottom of this page. For more information contact Francine McKenna, fmckenna@mckennapartners.com |
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