Attorney General Harry Daugherty became at fault for the scandal when he failed to do anything about it such as prosecuting the scandal. Throughout the
William Humphrey was a commissioner of the Federal Trade Commission whose term ended in 1938. President Franklin Roosevelt requested Humphrey’s resignation in 1933 to replace him with a commissioner whose views corresponded with the presidents. When Humphrey refused to resign, President Roosevelt fired him. The Federal Trade Commission Act of 1914 only allowed the president to remove commissioners for inefficiency, neglect of duty, or malfeasance in office. This case originated in the Court of Claims.
Fall was interviewed about the topic, and the detectives opinions of Albert Fall during the interview were this, “ He angrily resented suggestions that what he had done constituted anything but patriotic acts and perfect business transactions(Cain).” Cases and investigations relating to the Teapot Dome scandal continued until 1927 when the supreme court deemed the transactions Albert Fall made as invalid. Invalidation of the transactions resulted in government ownership of oil fields, and Fall was convicted for accepting bribes, and served one year in prison. Calvin Coolidge, the president at the time who served after Warren G. Harding’s death, wanted Edwin Denby and Harry Daugherty, the attorney general, to retire from their jobs, for obliging to give the oil fields to Albert Fall(Cain). Both never suffered consequences from the Teapot Dome Scandal.
One of the five suspects was a White House Consultant named Howard Hunt. There was money laundering found in Mexico was found. Interviewing couple of CRP staff members showed that there was a huge amount of money was used for Watergate’s tapping. It was also distributed to the highest level persons in CRP. The FBI investigated but the final charges did not go as expected because they lack evidence..
He rose “hush money’ for the burglars, tried to stop the FBI from investigating the crime, destroyed evidence, and fired uncooperative staff members. In 1974, after the Watergate scandal had finally come to light, President Nixon resigned. Nixon abused
Trust busting He believed WALL STREET FINANCIERS and powerful
Archibald Cox was the special prosecutor investigating Watergate and President Richard Nixon’s involvement. Cox demanded the President hand over all of the tapes, but Nixon wanted to negotiate. Cox would not settle for anything less than every piece of smoking gun evidence against President Richard Nixon and planned to appeal the matter to the United States Supreme Court. On October 20, 1973, Nixon demanded that Attorney General Elliot Richardson fire Cox, but he refused and resigned. Next ordered Attorney General William D Ruckelshaus, but he also refused and resigned.
He was found guilty on two separate accounts of securities fraud, and another separate account of conspiracy to commit securities fraud involving his publically traded hedge
Another important person was Edwin Stanton, he was the Secretary of State and he was one of the main reasons that the Johnson got impeached. On February 21, 1868, Johnson had decided that Stanton wasn’t good enough for him so he decided to fire him and replace him with General Thomas. This didn’t go over well with Congress and they had been discussing impeaching Johnson for a short time already. So they decided to produce a formal impeachment.
While holding his position as State Attorney General, he became known as the “Sheriff of Wallstreet,” because of his strict views on public corruption, as well as his stances on organized crime (Biography, 2015). He wanted to let people know that even those who are in high positions of power should be held accountable, even stating that “core ethical behavior is necessary…at some point you have to say, wait a minute… that’s it…it’s only when you hold the CEO accountable that you show people that something must change” (Masters, 2007, P.2). He also made it a point to state that people should be able to trust those in charge with their money, and should be able to trust that they won’t mishandle or steal it for their own purposes, and that when the public loses their trust in the market, they’ll take their money “elsewhere” (Masters, 2007, P.5). One specific incident involved his uncovering of scandalous emails that shed light on the fact that Merrill Lynch had some serious issues of “financial conflicts of interest that affected its advice to customers,” which led to an enormous lawsuit, with Mr. Lynch settling outside of court for over $100 million (Biography,
Watergate President Richard Nixon stated, “When the President does it, that means that it's not illegal”. Richard Nixon was our 37th President, he served the United States from 1969 to 1974. He was the only President in U.S history to resign while in term. His resignation was due to what we call “The Watergate Scandal”. The day before he resigned in 1974, he went on national television to state that he can no longer serve his duty as a President and as Congress for the United States.
Another person that played a major role in this scandal Ronald Reagan. At the time he was our president and was hiding this scandal from the public. After the people found out what was going on the made a huge uproar. The people felt like they could no longer trust the government. How could something so serious like this be hid from the
On the other hand, as he never sold his WorldCom stock, which was a showed that he was unaware of the fraud of financial statements and accurate position of WorldCom. 2. If the fraud had not been detected when it was, how long do you think it might have continued and how would it have ultimately been revealed? If the fraud has not been detected that it might have been gone 10- 20 years undetected. It may have been ultimately detected by the use of checks and balances, and multiple audits through independent auditors.
The controversy came about when the president and CEO of the organization who had been in that position since 1970, William Aramony, resigned amid allegations of money laundering among other things. Aramony was under investigation for fraud and mismanagement of funds. The trial that involved Mr. Aramony and the two codefendants lasted until 1995, when Aramony was convicted. He was convicted on charges of 23 of 27 counts of fraud, filing false tax returns, conspiracy, and money laundering. He and two top officials were also convicted of looting $1.2 million to fund an extravagant and lurid lifestyle.
He served as an SEC advisor. He had conducted suspected legitimate business without a blemish for decades. His influence within the arena had to once again speak to his credibility, thus diminishing the desire for the SEC to dig deeper. A man of that stature and prominence had to be vicariously protected from scrutiny, and questioning his ethics and character could pose a certain risk. After all, Madoff is one of the craftsman of the NASDAQ.
