SEC settles with Illinois over fraudulent bond offering – But "Where’s the Beef?"
On March 11, 2013 Illinois entered into a consent “cease and desist” order with the Securities and Exchange Commission (SEC). The order was in settlement of an allegation that Illinois made material misrepresentations in connection with 2.2 billion dollars in bond offerings from 2005 to 2009 understating the degree of risk.
This is unacceptable because the order simply requires the State of Illinois to do what it should have been doing from the beginning, that is, comply with the law.
Ethics in Government Requires a New Approach
George Amick’s NJ.com article of February 11, 2013, captioned “No help from state for ethics oversight” concludes that Hamilton Mayor Kelly Yaede’s heart was in the right place in trying to obtain state assistance in overseeing the city’s ethics program. I agree that having an “independent” ethics oversight function is important, with the emphasis on “independent.” However the overall state of government e
W. VA Coal Mine Agrees to Pay $209 Million but Will the Mine Safety and Health Administration Fine Itself?
The headline in the Washington Post of December 7, 2011 was: “Owner of W.Va. Coal Mine Agrees to Pay $209 Million Penalty for Fatal Explosion.” – Washington Post , 12/07/2011
Reflections on the Office of Government Ethics Annual Conference
It really is a question of culture - - -
I was honored to have been invited to make a presentation on behalf of the Rutgers Center for Government Compliance and Ethics (Center) at the annual Office of Government Ethics (OGE) Conference in mid September 2011. The theme of the conference was: “Organizational Integrity is a Shared Responsibility.”
Allegation of Illegality in the DOE Handling of the Solyndra Loan Guarantee – What if the DOE Had a Compliance Program?
A recent headline on Politico.com on the Solyndra scandal caught my attention: “Say DOE [the Department of Energy] Broke the Law -- So What?” My initial reaction was one of helpless resignation to the truth of that statement.