- Joseph Zernik 2010 Chilean miners trapped in collapsed mine
Between 2004 and 2010, the firm accumulated 42 fines from various Chilean safety bodies for failing to protect its workers.
"They never carried out the most fundamental adjustments needed to avoid disasters like what we're seeing today," Vincelot Tobar, risk assessor who resigned in 2009 because the company failed to carry out his recommendations.
- Joseph Zernik 2008 Lehman Brothers collapse, sub-prime mortgage crisis, and global recession
8 years after Graham-Leach-Bliley legislation deregulates the financial services industry.
Cost: $475 billion authorized in TARP payment, global recession, continuing “too big to fail” philosophy
- Joseph Zernik 2001 Enron collapse
Enron hid failed deals and projects for years through the use of accounting loopholes and special purpose entities.
The collapse of Enron led to the Sarbanes-Oxley Act. This legislation increased penalties for defrauding shareholders or tampering with records. The act also increased the accountability of auditing firms to remain unbiased and independent of their clients.
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2015-05-24 25 Images of Markets "Regulating Themselves"
When economists talk about how a market "regulates itself," what they mean is that markets reach an equilibrium between supply and demand. This says nothing about whether or not this equilibrium ...