If you're making a large purchase on Craigslist for an item such as a car, it could be worthwhile to run a background check
All the major features of Purdue's handling of OxyContin conform to similar acts of corporate fraud perpetrated in recent years. Still the story is peculiar in some key respects. Many times corporate fraud originates in some fairly innocent business model. Not so with OxyContin, a dubious affair from the start.
Andrew Caspersen is allegedly guilty of a cartoonish Wall Street fraud scheme.
Although most anyone can be a target of fraud and identity theft, senior identity theft is on the rise and those ages 50+ are often in the cross-hairs of scammers. The U.S. government is taking steps to help circumvent the high level of fraud aimed at seniors, but it can only do so much -- and progress in this area has been fairly slow.
Under Operation Choke Point, the FDIC has warned banks against working with firms that defraud people. Working with fraudsters
Bank of America specialized in making mortgages with terms that the loan officers and executives like Mairone knew the borrowers could not possibly service. Fraud was the business model. Foreclosure was the expected result.
I know that the public won't find it strange that elite Wall Street lawyers could not muster a single hero while the appraisers produced tens of thousands. The public does not expect much from Wall Street lawyers.
After the irresponsible lending and nefarious practices that led to the crash of the economy and the housing crisis, it is the moral responsibility of financial institutions and regulators to right the ship and do right by older adults, and indeed by all consumers.
If the rule of law is not applied equally, whereby a teenager harboring a pack of marijuana gets jail time while executives who cashed in millions pedaling fraudulent financial instruments remain untrammeled, the very edifice of America begins to crumble.