In mid-July, Citigroup agreed to pay $7 billion for what the U.S. Department of Justice (DOJ) called "egregious misconduct" related to its handling of subprime mortgages and mortgage securities in the run up to the financial crisis. This was not a singular result. It is part of a trifecta. In March of this year, Bank of America entered in to a $9.5 billion settlement with the Federal Housing Finance Agency as the conservator for Fannie Mae and Freddie Mac for its alleged transgressions on … [Read more...]
Articles
Frank blogs regularly for the Huffington Post and writes occasional columns and articles for publications such as the International Business Times and The Economic Times of India.
Frank writes on a wide variety of topics that are critical to shaping the future of America and the American dream and to making the United States and the world a better place. These include: Business; education; poverty and inequality; politics and public policy; immigration; manufacturing; innovation; leadership; citizenship; and social commentary.
Frank’s most recent blogs are highlighted on this page. To read other blogs or articles by Frank, click on the categories or publications links on the left.
Mr. Islam hosted first Iftar dinner at USIP.
WASHINGTON, DC: Nearly a hundred dignitaries, among them a number of current and former diplomats, attended the first ever iftar dinner hosted by the United States Institute of Peace at its headquarters in Washington, DC, on July 24. Among the attendees were Afghanistan Ambassador to the United States Ahmad Eklil Hakimi, his wife Sultana Hakimi; top Iraqi diplomat in Washington Ambassador Lukman Faily, Nigerian Ambassador Adebowale Ibidapo Adefuye, USIP Vice Chairman George Moose, former … [Read more...]
Will the Delhi Bonhomie Lead to a New Era in Pakistan-India Relations?
Prime Minister Narendra Modi has been in office for two months now, and he has already taken several actions to change India's social and economic direction. The most surprising move the newly elected Indian leader has made to date, however, was his decision to invite Pakistani Prime Minister Nawaz Sharif to his swearing-in ceremony. It caught nearly all observers off-guard. It has yet to be determined whether this symbolic gesture will translate into substantive improvement in Pakistan-India … [Read more...]
Bilateral trade may be the key to bolster Indo-Pak relationship
WASHINGTON, DC: While Narendra Modi’s victory in the Indian elections was widely predicted, the newly elected Indian leader’s decision to invite Pakistan Prime Minister Nawaz Sharif to attend his swearing-in ceremony was a pleasant surprise catching almost all observers off guard. During his tenure as the chief minister of Gujarat, which shares a border with the province of Sindh, Modi had never given the impression of being a peace-maker, when it came to Pakistan. Indeed, during the campaign, … [Read more...]
United States Big Business: Acting Local. Paying Global
If you walked into the Walgreens at Bee Ridge and Tamiami Trail in Sarasota, Florida on this past 4th of July weekend, you would have found an end cap of American flags, plates, cups, and napkins. We imagine that you would have found similar displays of patriotic paraphernalia at the more than 8,000 Walgreen drugstores across the United States. There's only one problem, as Walgreens has shown over the past few weeks, this faux patriotism is more about profits than dedication to country. What … [Read more...]
How long will Modi’s US honeymoon last?
WASHINGTON, DC: Presidents — or for that matter, most incoming officeholders — are routinely given a honeymoon period at the beginning of their first term by the American public, the media and even the opposition. During this phase, which can last from several months to a year or so, people tend to refrain from criticizing newly elected leader unless criticism is absolutely warranted. Judging by the reactions in Washington and rest of the United States, it appears that the US foreign policy … [Read more...]
Not So “Common Core”: The Reforming of Educational Reform
From 2009 to 2013, there was a rush to develop, embrace and implement the Common Core State Standards (CCSS) for K-12 education. Since then, there has been a rush to reject, resist and rewrite the CCSS. The rush to judgment in both instances was and is probably misplaced. It's time to take a deep breath and put this attempt at meaningful educational reform into perspective. Or, as Simon and Garfunkel might say it, "Slow down you move too fast. Got to make the standards last now." The … [Read more...]
Buy the Numbers? Our Confounding and Insufficient Government Statistics
On June 6, the U.S. Bureau of Labor Statistics (BLS) announced the economy added 217,000 jobs in May compared to an adjusted 282,000 jobs for April. The BLS original numbers for April were 288,000 jobs created with unemployment having fallen by .4% from 6.7% to 6.3%. The April decline in unemployment may sound good. But, that's not necessarily so because the April drop was caused primarily by 800,000 people leaving the workforce At the end of May, the U.S. Bureau of Economic Analysis (BEA) … [Read more...]
The ‘I’ in Team
In winning the NBA championship in a 4-1 game stomping of the LeBron James-dependent Miami Heat, the San Antonio Spurs disproved the old saying that there is no "I" in team. While that is literally true, it is not figuratively so. The "I" in team is the concept of "interdependence." Interdependence is what separates and distinguishes great "teams" from their counterparts. You can win a championship but still not be a great team. You can have many great players and not win a … [Read more...]
Prime Minister Modi and the U.S.: First a Visa. What Is in the Cards Next?
Before Narendra Modi was elected Prime Minister of India, it was widely reported that he had been denied a visa to visit the United States in 2005 because he did not intervene to stop bloody riots in which over 1,000 Muslims were killed in his state of Gujarat. There was speculation that the visa issue could become a stumbling block in terms of establishing relations with the new prime minister. President Obama took that speculation off the table immediately after Modi won the election by a … [Read more...]