US Bankruptcy Judge Stuart Bernstein approved JPMorgan Chase & Co's to pay $325 million to Bernard Madoff lawsuit trustee Irving Picard and another $218 million to settle two other cases that Picard helped file, Bloomberg said in a report.
Investigative journalist and author Gary Weiss has spent much of his career exposing the vagaries and excesses of Wall Street. Weiss has devoted much of his career exposing corrupt corporate officials. His efforts have been a rallying cry for investigative reporters worldwide who believe in the tenets of truth.
Corporate malfeasance, embezzlement and insider trading are more like headaches for corporations when caught, rather than as epidemics, which ought to be stopped. The very definition of embezzlement is "the act of wrongfully appropriating funds that have been entrusted into your care but which are owned by someone else." In other words, embezzlement is an act where someone deliberately sabotages the trust of another person.
Journalistic ethics ought to be a priority for all aspiring reporters. Time and time again, reporters have not shown good judgement, nor have their superiors. The business has been too fixated on lurid, sensationalist headlines, rather than dogged reporting, objectivity and checking of sources.The Blair scandal is a stark reminder of the dangers of unethical behavior within journalism as as blogs, social media and other new platforms provide limitless outlets for fresh and hungry reporters.
