Through the Eyes of a Whistle-Blower: How Sherry Hunt Spoke Up About Citibank's Mortgage Fraud

2017 ◽  
pp. 1-18
Author(s):  
Adam Waytz ◽  
Vasilia Kilibarda
Keyword(s):  
United States ◽  
Vice President ◽  
The United States ◽  
List Type ◽  
Mortgage Loans ◽  
Un Global Compact ◽  
Whistle Blowing ◽  
Sarbanes Oxley ◽  
Fannie Mae ◽  
Federal Housing

In 2011, Sherry Hunt was a vice president and chief underwriter at CitiMortgage headquarters in the United States. For years she had been witnessing fraud, as the company bought billions of dollars in mortgage loans from external lenders that did not meet Citi credit policy and sold them to government-sponsored enterprises (GSEs). This resulted in Citi selling to GSEs such as Fannie Mae and Freddie Mac pools of loans that were considerably defective and thus likely to default. Citi had also approved hundreds of millions of dollars' worth of defective mortgage files for U.S. Federal Housing Administration insurance. After reporting the mortgage defects in regular reports, notifying and working closely with her direct supervisor (who was subsequently asked to leave Citi after alerting the chairman of the board to these issues) to stop the purchase of defective loans, leaving anonymous tips on the FBI's and the Department of Housing and Urban Development's websites, and receiving threats from two of her superiors who demanded that she change the results of her quality control unit's reports, the shy and conflict-avoidant Hunt had to decide who she should tell about the fraud, and how.The case gives students the opportunity to recommend how Hunt should proceed based on their analysis of the stakeholders involved. To aid instructors, the case includes Kellogg-produced videos of Hunt—the only on-camera interviews she has ever given—explaining what happened after she reported the fraud to Citi HR and, later, the U.S. Department of Justice. Within the case, students are also briefly exposed to legislation and bodies pertinent to whistle-blowing in the United States, including the Dodd-Frank Act, the Sarbanes-Oxley Act, and the SEC Office of the Whistleblower.This case won the 2014 competition for Outstanding Case on Anti-Corruption, supported by the Principles for Responsible Management Education (PRME), an initiative of the UN Global Compact. Analyze stakeholders' motivations to prepare counter-arguments to the resistance one might encounter when reporting unethical behavior Write a script for who to tell, how, and why Discuss how incentive structures, management, and culture play roles in promoting or hindering ethical behavior in organizations Identify behaviors that help a whistle-blower be effective Gain experience resolving ethical dilemmas in which two values may conflict, such as professional duty and personal ethics

Polaris Industries Inc.

2017 ◽  
pp. 1-9
Author(s):  
Sunil Chopra ◽  
Ioana Andreas ◽  
Sigmund Gee ◽  
Ivi Kolasi ◽  
Stephane Lhoste ◽  
...  
Keyword(s):  
United States ◽  
Vice President ◽  
The United States ◽  
Labor Cost ◽  
Time Variability ◽  
List Type ◽  
Labor Costs ◽  
Manufacturing Facility ◽  
Facility Locations ◽  
The Impact

In September 2010 Suresh Krishna, vice president of operations and integration at Polaris Industries Inc., a manufacturer of all-terrain vehicles, Side-by-Sides, and snowmobiles, needed to recommend a location for a new plant to manufacture the company's Side-by-Side vehicles.The economic slowdown in the United States had put considerable pressure on Polaris's profits, so the company was considering whether it should follow the lead of other manufacturers and open a facility in a country with lower labor costs. China and Mexico were shortlisted as possible locations for the new factory, which would be the first Polaris manufacturing facility located outside the Midwestern United States. By the end of the year Krishna needed to recommend to the board whether Polaris should build a new plant abroad (near-shored in Mexico or off-shored in China) or continue to manufacture in its American facilities. Evaluate tradeoffs between different geographic locations when establishing a manufacturing facility (off-shoring, near-shoring, and on-shoring) Run a sensitivity analysis on total cost Assess the impact of transportation costs, exchange rates, labor cost rates, lead times, and other assumptions on total costs Identify qualitative factors to be considered when deciding between non-U.S. facility locations, transportation time variability, consumer perceptions, and cultural differences

Off to a bad start: John Adams’s tussle over titles

2008 ◽  
Vol 4 ◽  
Author(s):  
James C Alexander
Keyword(s):  
United States ◽  
United States Of America ◽  
Vice President ◽  
The United States ◽  
John Adams ◽  
The Press ◽  
First Session

From the first days, of the first session, of the first Congress of the United States, the Senate was consumed by an issue that would do immense and lasting political harm to the sitting vice president, John Adams. The issue was a seemingly unimportant one: titles. Adams had strong opinions on what constituted a proper title for important officers of government and, either because he was unconcerned or unaware of the damage it would cause, placed himself in the middle of the brewing dispute. Adams hoped the president would be referred to as, “His highness, the President of the United States of America, and Protector of the Rights of the Same.” The suggestion enraged many, amused some, and was supported by few. He lost the fight over titles and made fast enemies with several of the Senators he was constitutionally obligated to preside over. Adams was savaged in the press, derided in the Senate and denounced by one of his oldest and closest friends. Not simply an isolated incident of political tone-deafness, this event set the stage for the campaign against Adams as a monarchist and provided further proof of his being woefully out of touch.

You’re Fired! Donald Trump and the 2020 Congressional Elections

The Forum ◽  
2020 ◽  
Vol 18 (4) ◽  
pp. 627-650
Author(s):  
Jamie L. Carson ◽  
Spencer Hardin ◽  
Aaron A. Hitefield
Keyword(s):  
United States ◽  
Presidential Election ◽  
Descriptive Analysis ◽  
Vice President ◽  
The United States ◽  
Congressional Elections ◽  
General Election ◽  
Donald Trump ◽  
Modern Era

Abstract The 2020 elections brought to an end one of the most divisive and historic campaigns in the modern era. Former Vice President Joe Biden was elected the 46th President of the United States with the largest number of votes ever cast in a presidential election, defeating incumbent President Donald Trump in the process. The record turnout was especially remarkable in light of the ongoing pandemic surrounding COVID-19 and the roughly 236,000 Americans who had died of the virus prior to the election. This article examines the electoral context of the 2020 elections focusing on elections in both the House and Senate. More specifically, this article examines the candidates, electoral conditions, trends, and outcomes in the primaries as well as the general election. In doing so, we provide a comprehensive descriptive analysis of the climate and outcome of the 2020 congressional elections. Finally, the article closes with a discussion of the broader implications of the election outcomes on both the incoming 117th Congress as well as the upcoming 2022 midterm election.

scholarly journals Cost-effectiveness of implementing objective diagnostic verification of asthma in the United States

2019 ◽  
Author(s):  
Mohsen Yaghoubi ◽  
Amin Adibi ◽  
Zafar Zafari ◽  
J Mark FitzGerald ◽  
Shawn D. Aaron ◽  
...  
Keyword(s):  
Quality Of Life ◽  
United States ◽  
Cost Effectiveness ◽  
The United States ◽  
Model Parameters ◽  
List Type ◽  
Asthma Diagnosis ◽  
Verification Algorithm ◽  
Input Parameters

AbstractBackgroundAsthma diagnosis in the community is often made without objective testing.ObjectiveThe aim of this study was to evaluate the cost-effectiveness of implementing a stepwise objective diagnostic verification algorithm among patients with community-diagnosed asthma in the United States (US).MethodsWe developed a probabilistic time-in-state cohort model that compared a stepwise asthma verification algorithm based on spirometry and methacholine challenge test against the current standard of care over 20 years. Model input parameters were informed from the literature and with original data analyses when required. The target population was US adults (≥15 y/o) with physician-diagnosed asthma. The final outcomes were costs (in 2018 $) and quality-adjusted life years (QALYs), discounted at 3% annually. Deterministic and probabilistic analyses were undertaken to examine the effect of alternative assumptions and uncertainty in model parameters on the results.ResultsIn a simulated cohort of 10,000 adults with diagnosed asthma, the stepwise algorithm resulted in the removal of diagnosis in 3,366. This was projected to be associated with savings of $36.26 million in direct costs and a gain of 4,049.28 QALYs over 20 years. Extrapolating these results to the US population indicated an undiscounted potential savings of $56.48 billion over 20 years. Results were robust against alternative assumptions and plausible changes in values of input parameters.ConclusionImplementation of a simple diagnostic testing algorithm to verify asthma diagnosis might result in substantial savings and improvement in patients’ quality of life.Key MessagesCompared with current standards of practice, the implementation of an asthma verification algorithm among US adults with diagnosed asthma can be associated with reduction in costs and gain in quality of life.There is substantial room for improving patient care and outcomes through promoting objective asthma diagnosis.Capsule summaryAsthma ‘overdiagnosis’ is common among US adults. An objective, stepwise verification algorithm for re-evaluation of asthma diagnosis can result in substantial savings in costs and improvements in quality of life.

Millard Fillmore and the Compromise of 1850

2013 ◽  
Author(s):  
Fred I. Greenstein ◽  
Dale Anderson
Keyword(s):  
United States ◽  
Emotional Intelligence ◽  
Cognitive Style ◽  
Organizational Capacity ◽  
Political Skill ◽  
Vice President ◽  
The United States ◽  
Public Communication ◽  
Critical Part ◽  
The Status

This chapter assesses the strengths and weaknesses of Millard Fillmore, focusing on six realms: public communication, organizational capacity, political skill, policy vision, cognitive style, and emotional intelligence. Vice President Fillmore unexpectedly became the thirteenth president of the United States following the death of Zachary Taylor on July 9, 1850. Fillmore had been sidelined in his predecessor's administration, but in his capacity as presiding officer of the Senate, he had carefully followed the heated congressional debate over the status of slavery in the Mexican Cession. Plunged immediately into a crisis when he assumed the presidency, Fillmore played a critical part in the enactment of compromise legislation that appeared at the time to have averted the threat of a war between the slave and free states.

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