DOCSLIB.ORG

Reader's Guide

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Reader’s Guide This list is provided to assist readers in locating article entries on related topics. It classifies entries into 17 topical categories. Some entry titles appear in more than one category. BUSINESS FRAUD & Interlocking Directorates COMPANIES CRIMES Kickbacks A. H. Robins Advertising Fraud Labor Crimes AAMCO Antitrust Mail Fraud Adelphia Communications Arbitrage Insurance Fraud Allied Chemical Bank Fraud Internet Fraud Allied Irish Banks Bankruptcy Fraud Marketing Fraud American Cyanamid Bid Rigging Market Manipulation American Hospital Supply Boycott Outside Directors American Motors Campaign Finance Partnership Fraud Anheuser-Busch Canadian Mining Scandals Patent Infringement Archer Daniels Midland Charity Fraud Predatory Practices Arthur Andersen Cigarette Advertising Price Discrimination AT&T Computer Hacking Price Fixing B. F. Goodrich Copyright Infringement Puffery Banco Ambrosiano Corporate Criminal Liability Redlining Bank of Credit and Commerce Corporate Dumping Revolving Door International Corporate Raiding Small-Business Fraud Banker’s Trust Direct-Mail Fraud Tariff Crimes Barings Bank Economic Espionage Tax Evasion BASF Free Enterprise System Trademark Infringement Beech Aircraft Greenmail Tying Arrangements Beech-Nut Nutrition Hoarding Unfair Trade Practices Board of Directors Illegal Competition Unions Bre-X Industrial Espionage Wire Fraud Canadian Mining Scandals xi xii Reader’s Guide Carl Karcher Enterprises Standard Oil Caribbean Islands Cendant Sumitomo Central America Centennial Savings and Loan Teledyne Industries China Chem-Bio Tyco International Cuba Chevron Unisys Eastern Europe Conoco United American Bank France Crédit Lyonnais United Fruit Germany Daiwa Bank United States Steel Greece Dow Chemical Waste Management, Inc. Hong Kong Drexel Burnham Lambert WorldCom Indonesia E. F. Hutton Ireland Eli Lilly CONSUMERS Israel Enron Corporation Advance Fee Scam Italy Film Recovery Systems Age Discrimination Japan Firestone Tires Automobile Luxembourg Fisher-Price Bait and Switch Mexico Ford Motor Company Bank Fraud Middle East G. D. Searle Beech-Nut Nutrition Poland General Dynamics Bendectin Russia General Electric Better Business Bureaus Saudi Arabia General Motors Breast Implants Scandinavia Georgia Pacific Caveat Emptor Singapore Global Crossing Charity Fraud South Africa Great Electrical Equipment Cigarette Advertising South America Conspiracy Consumer Deaths Spain Gulf Oil Corporation Contractor Fraud Switzerland IBM Credit Card Fraud Thailand Imperial Food Products Cyberstalking United Kingdom Investors Overseas Services Dalkon Shield United States ITT Direct-Mail Fraud Johns-Manville Fertility Fraud CRIMINOLOGY & JUSTICE Kerr-McGee Fisher-Price Age Discrimination Kidder, Peabody Gambling and Lotteries Ancient Mercantile Crime Lloyds of London Identity Theft Art Fraud Lockheed Impersonation Board of Directors Madison Guaranty Infant Formula Bribery Merrill Lynch Public Citizen Health Research Capitalism Metallgesellschaft Group Caveat Emptor Microsoft Tampons and Toxic Shock Civil Forfeiture Morgan Grenfell Telemarketing Fraud Class-Action Lawsuits Morton-Thiocol Tobacco Industry Conflict Theory National Medical Enterprises Consequences of White- NatWest Markets COUNTRIES & REGIONS Collar Crime Northrop Grumman Africa Conspiracy Owens Corning Arab Nations Corporate Criminal Liability Pharmaceutical Industry Argentina Corruption Procter and Gamble, Inc. Asia Crime Seriousness Revco Australia Criminal Facilitation Rite Aid Brazil Critical Theory Rockwell International Canada Differential Association Salomon Smith Barney Canadian Mining Scandals Drug Trafficking Reader’s Guide xiii Elite Crime Bank of Credit and Commerce Prisoners Ethics International Securities and Exchange Fear of Crime Banker’s Trust Commission Felony Bankruptcy Fraud Sentencing Guidelines. Forensic Auditing Barings Bank Tailhook Scandal Forgery Bendix Corporation Teapot Dome Scandal Gender Discrimination Boesky, Ivan Global Warming Bond Fraud LAWS Globalization Centennial Savings and Loan Antitrust Hartung-Burgess Debate Check Kiting Bank Secrecy Act Human Trafficking Commodity Fraud Boland Amendments Investigation Techniques Counterfeiting Campaign Finance Juries and Awards Credit Card Fraud Celler-Kefauver Act Justice, Department of Currency Fraud Clayton Antitrust Act Knapp Commission Debt Restructuring Fraud Clean Air Act Legal Malpractice Drexel Burnham Lambert Clean Water Act Military-Industrial Complex Embezzlement Comprehensive Thrift Act Misappropriation Theory Equity Funding Scandal Computer Fraud and Mollen Commission Extortion Abuse Act Money Laundering Fiduciary Fraud Consumer Product Safety Multinational Corporations Flaming Ferraris Act National White-Collar Insider Trading Ethics Reform Act Crime Center Investment Trust Fraud Fair Housing Act Negligence Nonprofit Organization Fraud False Claims Act Oligopoly Offshore Bank Accounts Federal Trade Commission Act Organized Crime Offshore Entities Financial Crime Perjury Savings & Loan Fraud Kingpin Statute Police Brutality Securities Fraud Foreign Corrupt Practices Act Police Corruption Stock Fraud Hart-Scott-Rodino Act Political Assassinations Teamsters Pension Fund Hobbs Act Pornography Vatican Bank Insider Trading Prosecution Sanctions Act Prostitution GOVERNMENT Interstate Commerce Act Public Corruption Bid Rigging Major Fraud Act Racial Discrimination Bribery Meat Inspection Act Racketeering Commodities Futures Trading Mining Safety and Religious Fraud Commission Health Act Respondeat Superior Corruption Occupational Carcinogens Risk Analysis Defense Industry Fraud Occupational Safety and Self-Control Theory Environmental Protection Health Act Sutherland-Tappan Debate Agency Pure Food, Drug and Techniques of Federal Deposit Insurance Cosmetics Act Neutralization Corporation Racketeer Influenced Federal Trade Commission Corrupt Organizations (RICO) FINANCIAL & SECURITIES Food and Drug Administration Robinson-Patman Act FRAUD Government Contract Fraud Sherman Antitrust Act Accounting Fraud Government Procurement Toxic Substances Control Act Arbitrage Fraud Truth in Lending Act Bad Checks Graft Truth in Labeling Banco Ambrosiano HUD Scandals Witness and Victim Bank Fraud Iran-Contra Protection Act xiv Reader’s Guide MEDICAL & HEALTHCARE Holley, Louis Malcolm Watergate FRAUD Hoover, Herbert Whitewater Age Discrimination Irving, Clifford Baycol Jesilow, Paul POLLUTION Bendectin Jett, Joseph Air Pollution Breast Implants Johnson, Lyndon B. Asbestos Dalkon Shield Keating Five Buffalo Creek Fertility Fraud Keating, Charles Exxon Valdez Healthcare Fraud Kennedy, Robert F. Coal Mining Health Corporation of America Leeson, Nick Global Warming Medical Malpractice Levi, Michael Globalization Medicare and Levine, Dennis Grassy Narrows Medicaid Fraud Madison, James Greenpeace Pharmaceutical Industry Maxwell, Robert Hazardous Waste Research Fraud Milken, Michael Kepone Scandal Revco Morgan, J. P. Love Canal Thalidomide Nader, Ralph Pesticides Unnecessary Surgery Nixon, Richard M. Polyvinyl Chlorides North, Oliver Three Mile Island PEOPLE Pontell, Henry Times Beach Agnew, Spiro Reagan, Ronald Waste Management, Inc. Anderson, Jack Rich, Marc Water Pollution Bakker, Jim and Tammy Roberts, Oral Benson, Michael L. Rockefeller, John D. PRODUCTS Boesky, Ivan Roosevelt, Franklin D. Automobile Braithwaite, John Roosevelt, Theodore Baycol Bush, George H. W. Ross, Edward Challenger Disaster Bush, George W. Rusnak, John Corvair Butcher Brothers Short, James F. Jr. Dalkon Shield Capone, Alphonse Shover, Neal Defective Products Carnegie, Andrew Silkwood, Karen Ford Pinto Carson, Rachel Simpson, Sally Infant Formula Carter, Jimmy Sinclair, Upton Oraflex Clinard, Marshall Sorkin, Ira Product Deficiencies Clinton, William J. Spitzer, Elliot Coffee, John C., Jr. Stanford, Leland, Sr. REGULATION Cohen, Albert K. Stavisky, Serge Air Pollution Coleman, James W. Steffens, Lincoln Antitrust Coolidge, Calvin Stewart, Martha Bank Fraud Cressey, Donald Sutherland, Edwin H. Capitalism Cullen, Francis T. Truman, Harry S Compliance Programs Domhoff, G. William Vaughan, Diane Consent Agreements Edelhertz, Herbert Weisburd, David and Orders Eisenhower, Dwight D. Wheeler, Stanton Federal Gambling Regulation Fisse, Brent Whistleblowers Financial Accounting Ford, Gerald R. Standards Board Frankel, Martin POLITICAL SCANDALS Free Enterprise System Geis, Gilbert ABSCAM National Association of Giuliani, Rudy Anderson, Jack Securities Dealers Grant, Ulysses S. Agnew, Spiro Reform and Regulation Green, Mark J. Contra-Gate Regulatory Enforcement Reader’s Guide xv SCAMS & SWINDLES Home-Stake Swindle WORK-RELATED CRIMES Advance Fee Scam Insurance Policy Churning Age Discrimination Art Fraud Nigerian 419 Asbestos Bad Checks Ponzi Schemes Brown Lung Bait and Switch Real Estate Investments Capitalism Better Business Bureaus Securities Fraud Challenger Disaster Bid Rigging Scams Coal Mining Bond Fraud Stock Churning Employee Crimes Charity Fraud Sweepstakes Fraud Employee Safety Computer Hacking Film Recovery Systems Consumer Product Safety WAR-PROFITEERING Globalization Commission Act American Civil War Industrial Revolution Contractor Fraud American Revolution Occupational. Carcinogens Counterfeiting Robber Barons Control Act Currency Fraud Vietnam War Ocean Ranger Daisy Chains War Crimes Sexual Harassment Direct-Mail Fraud World War I Unsafe Working Conditions Grifters World War II Workplace Deaths.
Recommended publications
  • Pdf File of Paper

    Pdf File of Paper

    DOES CORPORATE GOVERNANCE MATTER IN THE MARKET RESPONSE TO MERGER ANNOUNCEMENTS? Evidence from the U.S. and Germany Paul Lowengrub,a Torsten Luedecke,b and Michael Melvinc April 2004 ________________________________________________________________________ German executives can make misleading statements regarding merger activities while U.S. executives must either state “no comment” or provide a truthful statement. Do these differences in corporate governance standards cause differences in the market response to merger announcements? A sample of German and U.S. firms that announced acquisition plans between 1995 and 1999 suggests that for smaller firms, merger news has no significant impact on cumulative abnormal returns for German firms but a significant positive impact for U.S. firms. Large German firms, however, have similar experiences to large U.S. firms, as do German firms listed on a U.S. stock exchange, which require greater disclosure requirements. Aside from the smaller-firm effect, the evidence is consistent with no price-relevant differences arising from the differences in corporate governance rules. JEL Classification: G34 _______________________________________________________________________ aCapAnalysis, Washington, D.C., USA bUniversity of Karlsruhe (TH), Karlsruhe, Germany cArizona State University, Tempe, Arizona, USA 1 DOES CORPORATE GOVERNANCE MATTER IN THE MARKET RESPONSE TO MERGER ANNOUNCEMENTS? Evidence from the U.S. and Germany I. INTRODUCTION This paper addresses the following question: Does the market response to a merger announcement depend upon the regulations applying to corporate disclosure? Cross-country differences in securities laws and enforcement result in countries where firm executives must answer public questions about merger talks truthfully or else offer “no comment” while in other countries it is possible to make statements that the public may view as misleading.
  • Public Plicy Brief 44

    Public Plicy Brief 44

    PPB No.44 2/18/99 2:50 PM Page a1 The Jerome Levy Economics Institute of Bard College Public Policy Brief The Asian Disease: Pl a u s i b l e Di a g n o s e s , Po s s i b l e Re m e d i e s Regulation of Cros s - B o r der Interbank Lending and Derivatives Tra d e Ma r tin Mayer No. 44, 1998 PPB No.44 2/18/99 2:50 PM Page 2 The Jerome Levy Economics Institute of Bard Co l l e g e , founded in 1986, is an autonomous, inde- pendently endowed re s e a rch organization. It is n o n p a rtisan, open to the examination of diverse points of view, and dedicated to public servi c e . The Jerome Levy Economics Institute is publish - ing this proposal with the conviction that it rep r e - sents a constructive and positive contribution to the discussions and debates on the relevant policy issues. Neither the Institute’s Board of Governo r s nor its Advisory Board necessarily endorses the pr oposal in this issue. The Levy Institute believes in the potential for the study of economics to improve the human condi- tion. Through scholarship and economic forecast- ing it generates viable, effective public policy responses to important economic problems that profoundly affect the quality of life in the United States and abroad. The present res e a r ch agenda includes such issues as financial instability, povert y, employment, pro b- lems associated with the distribution of income and wealth, and international trade and competitive- ness.
  • Tuesday July 30, 1996

    Tuesday July 30, 1996

    7±30±96 Tuesday Vol. 61 No. 147 July 30, 1996 Pages 39555±39838 federal register 1 II Federal Register / Vol. 61, No. 147 / Tuesday, July 30, 1996 SUBSCRIPTIONS AND COPIES PUBLIC Subscriptions: Paper or fiche 202±512±1800 FEDERAL REGISTER Published daily, Monday through Friday, Assistance with public subscriptions 512±1806 (not published on Saturdays, Sundays, or on official holidays), by General online information 202±512±1530 the Office of the Federal Register, National Archives and Records Administration, Washington, DC 20408, under the Federal Register Single copies/back copies: Act (49 Stat. 500, as amended; 44 U.S.C. Ch. 15) and the Paper or fiche 512±1800 regulations of the Administrative Committee of the Federal Register Assistance with public single copies 512±1803 (1 CFR Ch. I). Distribution is made only by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC FEDERAL AGENCIES 20402. Subscriptions: The Federal Register provides a uniform system for making Paper or fiche 523±5243 available to the public regulations and legal notices issued by Assistance with Federal agency subscriptions 523±5243 Federal agencies. These include Presidential proclamations and For other telephone numbers, see the Reader Aids section Executive Orders and Federal agency documents having general applicability and legal effect, documents required to be published at the end of this issue. by act of Congress and other Federal agency documents of public interest. Documents are on file for public inspection in the Office of the Federal Register the day before they are published, unless earlier filing is requested by the issuing agency.
  • The Reason Given for the UK's Decision to Float Sterling Was the Weight of International Short-Term Capital

    The Reason Given for the UK's Decision to Float Sterling Was the Weight of International Short-Term Capital

    - Issue No. 181 No. 190, July 6, 1972 The Pound Afloat: The reason given for the U.K.'s decision to float sterling was the weight of international short-term capital movements which, despite concerted intervention from the Bank of England and European central banks, had necessitated massive sup­ port operations. The U.K. is anxious that the rate should quickly o.s move to a "realistic" level, at or around the old parity of %2. 40 - r,/, .• representing an effective 8% devaluation against the dollar. A w formal devaluation coupled with a wage freeze was urged by the :,I' Bank of England, but this would be politically embarrassing in the }t!IJ light of the U.K. Chancellor's repeated statements that the pound was "not at an unrealistic rate." The decision to float has been taken in spite of a danger that this may provoke an international or European monetary crisis. European markets tend to consider sterling as the dollar's first line of defense and, although the U.S. Treasury reaffirmed the Smithsonian Agreement, there are fears throughout Europe that pressure on the U.S. currency could disrupt the exchange rate re­ lationship established last December. On the Continent, the Dutch and Belgians have put forward a scheme for a joint float of Common Market currencies against the dollar. It will not easily be implemented, since speculation in the ex­ change markets has pushed the various EEC countries in different directions. The Germans have been under pressure to revalue, the Italians to devalue. Total opposition to a Community float is ex­ pected from France (this would sever the ties between the franc and gold), and the French also are adamant that Britain should re­ affirm its allegiance to the European monetary agreement and return to a fixed parity.
  • IJBEM-2017-4(4)-82-94.Pdf

    IJBEM-2017-4(4)-82-94.Pdf

    International Journal of Business, Economics and Management 2017 Vol. 4, No. 4, pp. 82-94 ISSN(e): 2312-0916 ISSN(p): 2312-5772 DOI: 10.18488/journal.62.2017.44.82.94 © 2017 Conscientia Beam. All Rights Reserved. IMPLICATIONS OF ACCOUNTANTS’ UNETHICAL BEHAVIOR AND CORPORATE FAILURES Udeme Enobong 1Faculty of Social and Management Sciences Department of Accounting Eshiet1 Akwa Ibom State University Obio Akpa Campus Akwa Ibom State Nigeria ABSTRACT Article History Purpose/objective: Emphasis on short term profit and share prices as criteria for the Received: 19 November 2015 determination of business success have led to attrition of stakeholder trust and Revised: 23 June 2016 Accepted: 22 March 2017 unlocked the doors for unethical conducts by professional accountants. Acceptable Published: 3 August 2017 ethics and encounters of accountants are very critical in the global market place. This study was undertaken to advocate high ethical practices by accountants to protect the interest of the stakeholders. Methodology/approach: A literature review of fifteen Keywords scholarly peer-reviewed journal articles on corporate scandals caused by unethical Accounting profession behaviors of corporate leaders and accountants. Findings: (1) Unethical practiced by Accountants Corporate failures accountants have unintended consequences globally; (2) The accounting profession has Ethics suffered severe image damages as a result of unethical behaviors by corrupt Reorganization Tyco international accountants; (3) Unethical behaviors by accountants significantly contributed to the Stakeholders. global corporate scandals, the Nigerian banking sector reorganization, and the extinction of some global companies from 2002 - 2009; (4) With the right corrective measures, organizations plagued with scandals can survive ethical challenges; (5) Audit committees oversight functions are critical in preventing corporate scandals; (6) (Un) ethical behaviors by professional accountants, organizational leaders is a tenable leadership theory.
  • Does Economics and Business Education Wash Away Moral Judgment Competence?

    Does Economics and Business Education Wash Away Moral Judgment Competence?

    J Bus Ethics DOI 10.1007/s10551-016-3142-6 Does Economics and Business Education Wash Away Moral Judgment Competence? 1 1 2 Katrin Hummel • Dieter Pfaff • Katja Rost Received: 30 October 2015 / Accepted: 21 March 2016 Ó Springer Science+Business Media Dordrecht 2016 Abstract In view of the numerous accounting and cor- Keywords Economics and business education Á Moral porate scandals associated with various forms of moral judgment competence Á Moral reasoning Á Self-selection misconduct and the recent financial crisis, economics and effect Á Treatment effect business programs are often accused of actively con- tributing to the amoral decision making of their graduates. Abbreviations It is argued that theories and ideas taught at universities CMD Cognitive moral development engender moral misbehavior among some managers, as DIT Defining issues test these theories mainly focus on the primacy of profit-max- MJC Moral judgment competence imization and typically neglect the ethical and moral MCT Moral competence test dimensions of decision making. To investigate this criti- cism, two overlapping effects must be disentangled: the self-selection effect and the treatment effect. Drawing on Introduction the concept of moral judgment competence, we empirically examine this question with a sample of 1773 bachelor’s The recent economic and financial crisis as well as and 501 master’s students. Our results reveal that there is accounting and corporate scandals over the last decades neither a self-selection nor a treatment effect for economics such as Enron (2001), WorldCom (2002), Global Crossing/ and business studies. Moreover, our results indicate that— Qwest (2002), Merck & Co. (2002), AOL Time Warner regardless of the course of studies—university education in (2002), Tyco International (2002), Computer Associates general does not seem to foster students’ moral (2004), Swissair (2001), Ahold (2003), YLine (2003), development.
  • The Pattern of Fraudulent Accounting : Ethics, External Auditing and Internal Whistle-Blowing Process

    The Pattern of Fraudulent Accounting : Ethics, External Auditing and Internal Whistle-Blowing Process

    Journal of Governance and Regulation / Volume 5, Issue 4, 2016 THE PATTERN OF FRAUDULENT ACCOUNTING : ETHICS, EXTERNAL AUDITING AND INTERNAL WHISTLE-BLOWING PROCESS Loredana Ferri Di Fabrizio * * University “Gabriele d’Annunzio”, Chieti-Pescara, Italy Abstract How to cite this paper: Ferri Di The ongoing debate in the literature centres on the compromised Fabrizio, L., (2017). The Pattern Of auditor’s independence in consequence of the relevant provisions Fraudulent Accounting : Ethics, External Auditing And Internal Whistle-Blowing perceived for non-audit services provided to the audited clients. Process. Journal of Governance and The accounting scandals that have occurred over the past two Regulation, 6(1), 12-25. decades show the lack of competence and independence of external http://dx.doi.org/10.22495/jgr_v6_i1_p2 auditors, who kept quite in the face of attempted frauds. The case Copyright © 2017 The Author of Tesco represents an undeniable example of the loss of auditor’s independence, who failed to detect accounting manipulation This work is licensed under the Creative Commons Attribution-NonCommercial confirming the importance of whistle-blowing procedures in 4.0 International License (CC BY-NC 4.0) disclosing concerns before they become serious problems. When http://creativecommons.org/licenses/b turnover occurs in CEOs it is more likely that a rotation in external y-nc/4.0/ auditors occurs as well. Finally, changes in top management enable ISSN Online: 2220-9352 whistle-blowing actions to be successful, interrupting the ISSN Print: 2306-6784 organization’s dependence on serious wrongdoings and preventing Received: 26.11.2016 a disastrous ending. The success of whistle-blowing in preventing Accepted: 20.12.2016 company failure makes it an effective instrument of сorporate пovernance.
  • EUROPEAN BANICING INTEGRATION, TEN YEARS AFTER by 95/92/FIN * Professor of Banking and Finance, at INSEAD, Boulevard De Constanc

    EUROPEAN BANICING INTEGRATION, TEN YEARS AFTER by 95/92/FIN * Professor of Banking and Finance, at INSEAD, Boulevard De Constanc

    EUROPEAN BANICING INTEGRATION, TEN YEARS AFTER by J. DERMINE 95/92/FIN * Professor of Banking and Finance, at INSEAD, Boulevard de Constance, 77305 Fontainebleau Codex, France. The author acknowledges financial support from INSEADs International Financial Services (IFS) programme. A working paper in the INSEAD Working Paper Series is intended as a means whereby a faculty researchers thoughts and findings may be communicated to interested readers. The paper should be considered preliminary in nature and may require revision. Printed at INSEAD, Fontainebleau, France EUROPEAN BANKING INTEGRATION, Ten Years After by Jean Dermine INSEAD F-77300 Fontainebleau, France October 1995 Revised and expanded version of a paper "Banking Industry in the ECs Internal Market" presented at a conference organized by the Sveriges Riksbank, Stockholm, November 1993. Forthcoming in European Financial Management. Abstract Ten year ago, the White Paper on the Completion of the Single Market announced the integration of European banking markets. The purpose of this essay is to identify four public issues that remain to be addressed. Home country control of international banks need to be complemented by host country control. The deposit guarantee schemes should be modified by rendering insured deposits "first order claim". A European authority is needed to ensure that banks do not exploit domestic rents to subsidize international activities. Finally, tax evasion is a fourth issue that remains to be addressed. At a meeting of the Council of Ministers held in Milan in 1985, the European Commission proposed a detailed timetable for the complete integration of European markets by January 1993. The aim was to dismantle the technological, regulatory and fiscal barriers which prevented the free flow of goods, capital and persons in the European Union.
  • Public Citizen Copyright © 2016 by Public Citizen Foundation All Rights Reserved

    Public Citizen Copyright © 2016 by Public Citizen Foundation All Rights Reserved

    Public Citizen Copyright © 2016 by Public Citizen Foundation All rights reserved. Public Citizen Foundation 1600 20th St. NW Washington, D.C. 20009 www.citizen.org ISBN: 978-1-58231-099-2 Doyle Printing, 2016 Printed in the United States of America PUBLIC CITIZEN THE SENTINEL OF DEMOCRACY CONTENTS Preface: The Biggest Get ...................................................................7 Introduction ....................................................................................11 1 Nader’s Raiders for the Lost Democracy....................................... 15 2 Tools for Attack on All Fronts.......................................................29 3 Creating a Healthy Democracy .....................................................43 4 Seeking Justice, Setting Precedents ..............................................61 5 The Race for Auto Safety ..............................................................89 6 Money and Politics: Making Government Accountable ..............113 7 Citizen Safeguards Under Siege: Regulatory Backlash ................155 8 The Phony “Lawsuit Crisis” .........................................................173 9 Saving Your Energy .................................................................... 197 10 Going Global ...............................................................................231 11 The Fifth Branch of Government................................................ 261 Appendix ......................................................................................271 Acknowledgments ........................................................................289
  • Creative Accounting, Fraud and International Accounting Scandals

    Creative Accounting, Fraud and International Accounting Scandals

    Creative Accounting, Fraud and International Accounting Standards Michael Jones University of Bristol [email protected] 1 Overview • Based on Book: Creative Accounting, Fraud and International Accounting Scandals • Investigates nature of creative accounting and fraud • Examines history of accounting scandals • Looks at creative accounting, fraud and accounting scandals in 13 countries worldwide • Focus on political aspects 2 Creative Accounting 3 Two Quotes “How do you explain to an intelligent public that it is possible for two companies in the same industry to follow entirely different accounting principles and both get a true and fair audit report?” M. Lafferty “Every company in the country is fiddling its profits”. I. Griffiths 4 Definitions 1. Fair Presentation Using the flexibility within accounting to give a true and fair picture of the accounts so that they serve the interests of users 5 Definitions 2. Creative Accounting Using the flexibility within accounting to manage the measurement and presentation of the accounts so that they serve the interests of preparers 6 Definitions 3. Impression Management Using the flexibility of the accounts (especially narrative and graphs) to convey a more favourable view than is warranted of a company’s results serving the interests of preparers 7 Definitions 4. Fraud Stepping outside the Regulatory Framework deliberately to give a false picture of the accounts 8 Definitions No Flexibility to give Flexibility to Flexibility to Flexibility a “true and fair“ give a give a view creative view fraudulent view Regulatory Working within Working within Working framework regulatory regulatory framework outside eliminates framework to ensure to serve preparer’s regulatory accounting choice users’ interests interests framework Within regulatory framework Outside regulatory framework 9 Managerial Motivation 1.
  • The Real Scandal on Spain's Economic Scene

    The Real Scandal on Spain's Economic Scene

    Click here for Full Issue of EIR Volume 10, Number 10, March 15, 1983 ical environment of Spain today would appear to have other motivations than economic ones. A key to the apparent mystery may be the unusual serenity of the private banks. Indeed, it is now suspected that the entire operation against Rumasa was cooked up between the top private banks, in particular Banesto, Bilbao, Central, and Hispanoamericano, and Mariano Rubio, deputy governor of the Bank of Spain since 1965 and architect of the monetarist The real scandal on takeover of the country's finances. The profile of these top banks is highly interesting. Spain's economic scene Investments abroad-otherWise known as capital flight­ doubled in 1982 relative to 1981. Ninty-five percent of all overseas investment by banks was carried out by the top 10, by Katherine Kanter in Paris and after the United States-Miami, to be precise--Chile, Portugal, and Puerto Rico were the major recipients of Span­ When Spanish Finance Minister Miguel Boyer announced ish bankers' money. Investments increased most into Chile, Feb. 23, that due to non-cooperation on the part of the coun­ Puerto Rico, and Uruguary, and decreased in those countries try's largest private enterprise Rumasa S.A. (1.5 percent of struggling to industrialize in spite of their debt burden: Ar­ the GNP, 400 companies, 350,000 employees, 18 banks), gentina, Mexico, Brazil, and Peru. the government would probably have to send in auditors from Now, whatever one may think of the "ride' em cowboy" the central bank, the Bank of Spain, he provoked an imme­ entrepreneurial approach of Ruiz Mateus, the unescapable diate run on the Rumasa group's banks and a stir in the fact is that the Rumasa empire he controlled was the only :'1ternational financialpress demanding that Spain should be major economic and financial power in the country with some blacklisted on the credit markets.
  • But Public Citizen Still Fights for Consumers

    But Public Citizen Still Fights for Consumers

    A lot has changed since 1971 ... n that year ... the Watergate was still just a little-known hotel in Washington ... people drove sta- tion wagons, not SUVs ... passengers could smoke on airplanes ... nuclear Ipower was flourishing ... and a first-class stamp cost 6 cents. Public Citizen has changed, too. From our founding in 1971 by consumer advocate Ralph Nader, we have grown into a potent countervailing force to the might of Corporate America. Today, we are larger and stronger than ever. But what hasn’t changed are the traits that have served us well: independence, per- sistence, vigilance. We’ve been the eyes and ears — and sometimes the teeth — of consumers through the administrations of six presidents and through 15 Congresses. We were born in an era of activism, during a But Public Citizen period when the Con- gress was creating Still Fights for important new agencies — the Environmental Protection Agency, the Occupational Consumers Safety and Health Administration, the Consumer Product Safety Commission, the National Highway Traffic Safety Administration — to mitigate the health and safety risks posed by our industrial society. Since that time, we’ve withstood a withering corporate backlash against consumer protection. But we have been uncompromising in our fight for safer products, for government and corporate accountability, for clean elections, for a strong and vibrant civil justice system, and for clean and safe energy. We have evolved with the times, keeping our core values while moving into new arenas, such as globalization and electricity deregulation now devastating California consumers. Public Citizen has won many battles for consumers.