Trust Digest 73 (November 20, 2014)


New Scrutiny of Goldman’s Ties to the New York Fed After a Leak
From his desk in Lower Manhattan, a banker at Goldman Sachs thumbed through confidential documents — courtesy of a source inside the United States government. The banker came to Goldman through the so-called revolving door, the symbolic portal that connects financial regulators to Wall Street. He joined in July after spending seven years as a regulator at the Federal Reserve Bank of New York, the government’s front line in overseeing the financial industry. He received the confidential information, lawyers briefed on the matter suspect, from a former colleague who was still working at the New York Fed.
Key Words: Goldman Sachs, New York Federal Reserve
Trust Issues: Regulation, Transparency, Accountability


Coal Rush in India Could Tip Balance on Climate Change
Decades of strip mining have left this town in the heart of India’s coal fields a fiery moonscape, with mountains of black slag, sulfurous air and sickened residents. But rather than reclaim these hills or rethink their exploitation, the government is digging deeper in a coal rush that could push the world into irreversible climate change and make India’s cities, already among the world’s most polluted, even more unlivable, scientists say.
Key Words: India, Strip Mining, Climate Change
Trust Issues: Responsibility, Sustainability


BNP Paribas Faces Possible Insider Trading Probe
French prosecutors have opened a preliminary inquiry into suspected insider trading by officials at BNP Paribas, said a person with knowledge of the investigation. Should the investigation go forward it threatens to further damage the reputation of France’s largest bank by market capitalisation, which earlier this year was hit with a record $8.9bn fine for US sanctions violations. The inquiry is being launched by the “le parquet national financier”, a body started last year specialising in corruption and tax evasion. Its head √Čliane Houlette said earlier this year that it would be a financial “strike force”.
Key Words: BNP Paribas, Insider Trading, France
Trust Issues: Integrity, Regulation


Uber Exec Takes Ugly Aim At One Of Its Biggest Critics
Does it matter if a business is loved or hated? Is any PR really good PR, as the saying goes? Are a few really poorly chosen words from a senior executive of the company part of a pattern of behavior at said company? Should you hand your biggest critics a megaphone when they’re just shouting on a street corner? These are just a few of the questions Uber will need to answer after a BuzzFeed scoop reported that a senior exec of the company suggested digging up dirt on journalists who criticized Uber.
Key Words: Uber, Emil Michael, Pando
Trust Issues: Integrity, Accountability, Communication


In Murky Pentagon Deal with Russia, Big Profit for a Tiny Florida Firm
For months, a powerful U.S. senator has been pushing for details of a murky deal under which a Russian manufacturer supplies the rocket engines used to launch America’s spy satellites into space. At issue: how much the U.S. Air Force pays for the engines, how much the Russians receive, and whether members of the elite in President Vladimir Putin’s Russia are secretly profiting by inflating the price. Now, documents uncovered by Reuters provide some answers. A tiny Florida-based company, acting as a middleman in the deal, is marking up the price by millions of dollars per engine.
Key Words: Pentagon, Russia, RD Amross
Trust Issues: Alignment of Interests, Transparency


Vetting Failed to Cull Mexican Cops Accused in Student Kidnappings
The Mexican police who are accused of kidnapping 43 students in Guerrero state two months ago and handing them to a drug gang didn’t dodge the government’s vetting process. Most of the officers involved had cleared it. In Sonora, a state prison chief remains on the job three years after he failed his background check. And in Jalisco, a mayor said he wants to re-test officers found unfit to serve -- because he can’t afford the severance payments if he fired them.
Key Words: Mexico, Guerrero kidnappings, Police corruption
Trust Issues: Capability, Integrity, Accountability


To Stop Ebola, Trust in Health Care Workers is Crucial
To stop the current Ebola outbreak and prevent future ones from becoming so large, it's crucial for health care volunteers to build trust in the communities where the disease can spread, well before a crisis starts, experts say. Without such trust, it is hard to get people within those communities to accept and follow public health advice, which can allow an outbreak to spiral out of control, according to a recent study.
Key Words: Ebola, Guinea, Red Cross
Trust Issues: Communication, Capability


Firestone and the Warlord
The killers launched from the plantation under a waning moon one night in October 1992. They surged past tin-roofed villages and jungle hideouts, down macadam roads and red-clay bush trails. More and more joined their ranks until thousands of men in long, ragged columns moved toward the distant capital. Men in camouflage mounted rusted artillery cannon in battered pickup trucks. Thin teenagers lugged rocket-propelled grenade launchers. Children carried AK-47s. Some held long machetes. The killers wore ripped jeans and T-shirts, women’s wigs and cheap rubber sandals. Grotesque masks made them look like demons. They were electric with drugs. They clutched talismans of feather and bone to protect them from bullets. In the pre-dawn darkness, they surrounded Monrovia, the capital of Liberia.
Key Words: Firestone, Liberia, Charles Taylor
Trust Issues: Integrity, Benevolence, Accountability


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