Non Stop Banking Scandals Are Dangerously Eroding Public Trust In The Financial System

I am old enough to remember when most people considered banks to be rock solid bastions of financial strength and integrity.  That was then, this is now, and a long running, non stop series of banking scandals seems to be dangerously eroding public confidence in the entire financial system. In recent weeks we have seen […]

Peregrine Financial CEO Confesses To 20 Year Undetected Fraud

Russell Wasendorf, Sr., CEO of Peregrine Financial Group (aka PFG Best) admitted in a suicide note that he had embezzled millions of dollars from customers for the past 20 years.  The reason the financial fraud was able to continue undetected for so long was due to a comedy of errors and omissions on the part […]

Regulators Maintain Perfect Record Of Incompetence – Massive Fraud At Peregrine Financial Goes Undetected

What is the point of having numerous regulatory agencies if they can’t detect blatant fraud despite numerous red flag warnings? Banking regulators turned a blind eye to absurdly reckless lending policies until the entire financial system came close to collapse in 2008.  Regulators managed to convince themselves that Bernard Madoff’s $50 billion Ponzi scheme was […]