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How to Install Redmine 3 with Nginx on Ubuntu 15.10

LXer -

Redmine is an open source project management and issue tracking tool based on the Ruby on Rails Framework. This tutorial covers the Redmine 3 installation with Nginx as the web server and MySQL as the database on Ubuntu 15.10 (64 Bit) operating system.

CoreOS Launches Rkt 1.0

Slashdot -

darthcamaro writes: Docker is about to get some real competition in the container runtime space, thanks to the lofficial aunch of rkt 1.0. CoreOS started building rkt in 2014 and after more than a year of security, performance and feature improvement are now ready to declare it 'production-ready.' While rkt is a docker runtime rival, docker apps will run in rkt, giving using a new runtime choice: "rkt will remain compatible with the Docker-specific image format, as well as its own native App Container Image (ACI). That means developers can build containers with Docker and run those containers with rkt. In addition, CoreOS will support the growing ecosystem of tools based around the ACI format."

Read more of this story at Slashdot.

Eric Holder Makes Ads for Hillary Clinton While Making Deals for Corporate Clients

The Intercept -

Former Obama administration attorney general Eric Holder is prominently featured in a Hillary Clinton campaign ad running in South Carolina. “If you want to make sure Republicans don’t take us backward, help Hillary move us forward,” Holder says.

Meanwhile, in his post-public service life as a partner with white-collar defense firm Covington & Burling, Holder is upholding his Justice Department’s tradition of negotiating lower fines for corporate offenses, albeit from the other side of the negotiating table.

The Associated Press reports that Holder, whose Justice Department prosecuted no major executive for the fraud that led to the 2008 financial crisis, is representing South African telecommunications conglomerate MTN in a $3.9 billion dispute with the country of Nigeria.

MTN Nigeria did not deactivate 5.2 million unregistered cell phone SIM cards after the Nigerian Communications Commission ordered them to do so by August 2015. Extremist groups operating in Nigeria use the cards for communications in kidnappings and attacks.

The commission initially imposed a $5.2 billion fine, which MTN challenged in court and got reduced to $3.9 billion. Now, Holder “is leading MTN’s legal team” in attempting to get the fine further reduced or eliminated, according to the commission’s spokesman, Tony Ojobo. The Federal High Court in Lagos has given MTN and the commission until March 18 to negotiate a settlement. Holder is negotiating directly with Nigerian officials, the AP reported.

During his Justice Department leadership, Holder specialized in negotiating settlements with corporations. The Justice Department issued a record number of deferred prosecution and non-prosecution agreements, allowing corporations charged with misconduct to buy their way out of trouble without jail time or clawed-back bonuses.

Covington & Burling defends corporate clients all over the world, including telecom, pharmaceutical, and financial interests. They openly promote getting bank clients off the hook in their marketing materials.

Holder defended corporations at the firm before becoming attorney general, and immediately returned there at the end of his tenure, calling it “home for me.” A year earlier, he purchased a condo that sits 300 feet from Covington & Burling’s new headquarters in Washington. The firm even held open a corner office in that new building for Holder while he was a sitting attorney general, while he negotiated settlements with Covington & Burling clients.

But Holder bristles at the suggestion that there might be a connection between his current employer and his conduct at Justice.

Lanny Breuer, head of the criminal division at DOJ under Holder, also returned to Covington & Burling after government work. In all, six former Justice Department officials now work at the firm.

Related:

The post Eric Holder Makes Ads for Hillary Clinton While Making Deals for Corporate Clients appeared first on The Intercept.

An Idiot’s Guide to Prosecuting Corporate Fraud

The Intercept -

Say you’re the newly elected president of the United States, and you want to make prosecuting corporate crime a top priority.

Where do you start? Here would be good.

A new group called Bank Whistleblowers United have just pushed out a comprehensive plan they think would put the executive branch back in the business of enthusiastically identifying, indicting, and convicting financial fraudsters — restoring accountability while protecting the public.

The cumulative credibility of the group’s four founders is extremely strong. Richard Bowen is the Citigroup whistleblower who unsuccessfully warned top management about the rotten condition of loans inside mortgage-backed securities. Michael Winston spoke out about similarly corrupt practices at non-bank mortgage originator Countrywide. Gary Aguirre, a Securities and Exchange Commission attorney, was fired for refusing to let a Wall Street banker out of an insider trading investigation.

And their ringleader is William Black, an outspoken fraud-fighter and longtime white-collar criminologist who was a two-fisted bank regulator during the savings and loan crisis and now teaches at the University of Missouri–Kansas City (UMKC).

“The common theme,” Black said with characteristic bluntness, “is the unbelievably pathetic job of the Department of Justice and the FBI.”

One of the first steps the group proposes – echoing the recommendations Senator Elizabeth Warren made last week – involves appointing aggressive leadership at federal agencies with no conflicts of interest with the entities they regulate, and hiring enough staff trained in criminology and financial fraud to attack the problem.

“You don’t have to reinvent the wheel,” said Black. “The Justice Department forgot there was a wheel.”

The template for the plan is the saving and loan crisis of the late 1980s, when just one federal agency, the now-defunct Office of Thrift Supervision (OTS) issued over 30,000 criminal referrals and over 1,000 major bank executives went to prison.

By comparison, in the 2008 financial crisis, OTS and their bank regulator counterparts made zero outside criminal referrals on financial crimes. And more recently, the rate of corporate prosecutions has been pathetic.

The whistleblowers would restore a job position from that earlier era: Criminal referral coordinators at every federal agency to meet with their counterparts in law enforcement to press for prosecutions and continually improve the process. They would also issue monthly referral reports to make the process more transparent. George W. Bush eliminated criminal referral coordinators in his first term.

Federal agencies would also be required to create a “Top 100” list of elite fraud schemes in their jurisdiction, borrowing another successful technique from the S&L crisis. These top 100 schemes would hold priority over small fry prosecutions that look good on a tally of convictions but don’t attack the most damaging fraud.

“When we created the Top 100 project,” said Bill Black, “the assistant U.S. attorney had to report every month to someone who got on your ass if the cases weren’t progressing.”

Black says the Top 100 list led to prosecuting 300 savings and loans and 600 officials. “And despite the banks having the best lawyers in the world, we still got a 90 percent conviction rate.”

The proposal would end the emphasis on deferred prosecution agreements that let corporations and individuals get away with paying a fine or agreeing to independent monitoring instead of facing a criminal conviction.

It would end prosecutions of mortgage fraud “mice” – cases against people who defraud banks – and transfer the resources to financial fraud “lions” – when banks defraud people.

It would end an existing partnership with the Mortgage Bankers Association trade group. “In essence,” the Bank Whistleblowers Group writes, “DoJ has made itself the collection agency for the worst criminal enterprises in the nation.”

The whistleblowers even believe that quick action could lead to immediate indictments. For instance, they call for the public release of the still-secret reports from Clayton Holdings, a third-party due diligence firm that tested mortgage loans from practically every major bank during the housing bubble, and told the banks that 1 in 3 were improperly made. Financial Crisis Inquiry Commission chair Phil Angelides this week identified the Clayton reports as the key to a “last chance for justice.” The statute of limitations on the final securitizations doesn’t end until 2017.

“It’s already baked in that this will be the biggest strategic failure of DOJ in history,” said Black. “But they could still indict the top ten frauds.”

Another novel technique would be to impose individual minimum capital requirements (IMCRs) commensurate with the risk banks pose based on their size, activities, and compensation systems. The whistleblower group believes that banking regulators have had the authority to do this since 1989 if they make a factual finding that it would prevent systemic risk.

Black said the capital requirements would shrink the size of institutions, because being big would become considerably less profitable. “If you assessed this on an actuarial basis based on risk, the capital requirement would be so high that nobody would do it,” he said.

As a banking regulator in the 1980s, Black famously blew the whistle on the “Keating Five” Senators who tried to intimidate him into ending the federal takeover on Charles Keating’s Lincoln Savings Bank. He has assisted the governments of France, Iceland, and Ireland on how to prosecute fraud epidemics. Only in the United States have his efforts been rebuffed.

“All the candidates claim they’re going to take on Wall Street, we take them at their word,” Black said. “This is how you move it from verbiage. Even the most conservative candidate should be eager to sign on to most of the plan.”

A separate pledge attached to the group’s plan would have candidates vow to not take campaign contributions from any financial firm charged with committing fraud. Officers of the firm would be limited to contributions of no more than $250.

The group also asks the Justice Department to be a little more respectful of financial-fraud whistleblowers like themselves in the future. “There hasn’t been a single press conference where [DOJ] has thanked the whistleblowers or even identified them,” Black said. “If you wanted to encourage the rule of law, you would praise them as opposed to claiming credit for their work. My mom drilled into me, when people do nice things, say thank you.”

 

The post An Idiot’s Guide to Prosecuting Corporate Fraud appeared first on The Intercept.

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