THURSDAY, MAY 20, 2010
Bob Monks: banks have ignored their fiduciary duties (video)
In new video this week:
Bob discusses enforcement of fiduciary duty to customers. He says that conglomerate banks have ignored these duties and the conflicts of interests that resulted. By forcing banks to solve these issues, they would have to divest themselves of any businesses that conflict with loyalty to customers — solving “too big to fail.” Watch the video:Fiduciary duty
Corporate executives are lobbying to change the shareholder provisions in the Schumer and Dodd Bills. Bob discusses conflicts between federal and state oversight in corporation law and says, “Delaware corporate law has tolerated poor governancewhich has contributed to crisis. This has invited participation by the federal government.” Watch Delaware Law.
In the news:
Bob was interviewed by Tom Keene and Ken Prewitt at Bloomberg News on May 17. Read the trasncript.
Bob’s piece on Shareholder Proposals appeared in Pensions & Investments on May 11 (subscription).
And finally, Bob was at the CFA Conference in Boston on May 17. Read his paper, Adding Value Through Corporate Governance.
Feedback:
Please send your comments to: info@ragm.com
FiduciaryDuty051810 by Robert A.G. Monks is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License.
POSTED BY STEPHANIE PHILBRICK
WEDNESDAY, MAY 12, 2010
Bob Monks: economic power is out of control (video)
Bob is continuing to follow the progress of the Dodd Bill, the Goldman Sachs case and hearings regarding the financial crisis. In the new video below he talks about the hearings, financial regulation and SEC enforcement. He is also reading all of your responses so please continue to be in touch (info@ragm.com).
Financial regulation. Bob discusses what type of new legislation is needed to address the causes of the financial crisis. He also talks about the failure of enforcement of current laws. “People who obey the law are placed at a competitive disadvantage…”
Balance of Power. “The economic system and political system are out of balance in this country…”
Dodd Bill. How does globalization affect U.S. financial regulation?
Also –
Bob will be at the CFA Institute Annual Conference in Boston on Monday. He’s giving a talk called “Adding Value Through Corporate Governance.”
POSTED BY STEPHANIE PHILBRICK
THURSDAY, APRIL 29, 2010
Bob Monks Discusses Ratings Agencies & Derivatives (new video)
A very big week for hearings with Goldman Sachs executives testifying before the Subcommittee on Investigations and another hearing with Senator Levin investigating the role of the ratings agencies in the financial crisis. CNNMoney is now reporting that the SEC has referred the Goldman Sachs case to the Justice Department for possible criminal prosecution for fraud.
Bob talked on video yesterday about SEC suit against Goldman Sachs and the recent hearings. The first clips below feature a four-part series of Bob describing how the ratings work and why the current system is not working. More to come on Friday and Monday.
And, Bob does read your comments and feedback so please be in touch at info@ragm.com
Ratings Agencies part 1: A Cancer in the Derivatives Market
Ratings Agencies part 2: Tailor Made Ratings
Ratings Agencies part 3: The Model Doesn’t Work
Ratings Agencies part 4: Untenable
POSTED BY STEPHANIE PHILBRICK
