Too Big to Jail: Our Banking System's Latest Disgrace
You can be forgiven if you watched the Department of Justice’s announcement yesterday of a $1.92 billion settlement with HSBC with a sense of disappointment--and déjà vu. The event checked all the boxes in a theatrical routine that has become all too familiar. Descriptions of breathtaking misconduct involving the facilitation of massive drug trafficking and transactions with rogue terror-sponsoring nations? Check. READ MORE >>
A Vikram Pandit Reality Check
And so the obituaries for the five-year tenure of Citigroup’s troubled Chief Executive Officer must now be written. While inevitably there will be those who will cite Pandit’s “righting of the ship” and “right sizing” of Citigroup, allow me to provide a dose of perspective. READ MORE >>
