At the sentencing hearing for Kareem Serageldin, a former senior executive at Credit Suisse, Judge Alvin K. Hellerstein of the Federal District Court in Manhattan pointedly asked why someone in such a position would engage in misconduct. As DealBook reported, the judge asked, “Why do so many good people do bad things?” That is the…
Crime, corruption, and tax evasion drained US$946.7 billion from the developing world in 2011, up more than 13.7 percent from 2010—when illicit financial outflows totaled US$832.4 billion. The findings—which peg cumulative illicit financial outflows from developing countries at US$5.9 trillion between 2002 and 2011—are part of a new study published this week by Global Financial…
So this is where they collared the man they call the Dread Pirate Roberts. It’s up a flight of stone steps, past the circulation desk and the Romance stacks, over in Science Fiction, far corner. On a sunny Tuesday in October, federal officers entered the public library in the Glen Park section of this city…
As headlines of apparent risk management failure or weak oversight inside one of Wall Street’s largest institutions abound, we argue that the story of a loss of 0.25 percent of the bank’s assets is getting too much face-time from regulators and the press. In August, the US Attorneys’ Office filed the first criminal charges in…
