Juggling Dynamite

Late Night with Seth Myers takes a closer look at the $5 billion fine levied against Goldman Sachs. Here is a direct video link.

Reasonable apprehension of bias is a legal standard for disqualifying judges and administrative decision-makers for bias. Bias of the decision-maker can be real or merely perceived. Regulators and prosecutors in finance and accounting have been indefensively oblivious on this standard, because they have been allowed to be.  This has to end.  They cannot continue to socialize and move through a revolving door of job opportunities back and forth.  We are all paying a huge price for this.  Ethical standards must be improved if we are to restore a stronger more accountable system.

Senior enforcement officials from the Canada Revenue Agency were treated to private receptions at an exclusive Ottawa club, hosted by a small group of influential tax accountants that included personnel from KPMG — even as the firm was facing a CRA probe for running a $130-million tax dodge in the Isle of Man.

The two soirees took place at the posh Rideau Club in 2014 and 2015, at the same time Canada’s tax agency was in confidential talks with KPMG over its refusal to hand over the names of its multimillionaire clients who used the offshore scheme. Here is a direct video link.

From personalized store credit in the 1800s to the unrelenting card offers in your mailbox today, credit cards have become an inescapable part of modern life — here’s how they got there. Here is a direct video link.