William K. Black On The Increased Risks Created By Wall Street's Psychopathic CEOs - To Rob A Country Own A Bank
A year ago today we posted a review of Wall Street's massive fraud after reading William K. Black's book The Best Way to Rob a Bank is to Own One - How Corporate Executives and Politicians Looted the S&L Industry. Black's book receives the top review on Amazon and is generally available at your public library as well.
It is one of the most important posts on this blog in my opinion. And if you didn't read it, I would encourage you to go back and do so. I cover many additional data points not discussed in Black's book on how the finance industry in the U.S. is well more corrupt and affects your personal livelihood in ways most people don't generally understand.
Anyhow, Black has unsurpassed credentials as a Wall Street fraud expert. No one in the world today has more substantial credentials than Black. Black was a(the) top government fraud investigator put in place to determine the cause of one of the prior Wall Street bilkings of society's money. A scam that almost took down the American economy in the late 1980s -the savings & loan crisis.
Is it any surprise you don't see him on the mainstream media outlets? Seriously? Politicians created Wall Street's ability to perpetuate fraud while both Washington and Wall Street profited from it. A substantial investigation that was serious about convicting fraud would lead right back to Washington as the rats abandoned ship to save themselves.
Black remarks in this new interview (links below) that there are so many more shoes to fall it will be like being in Imelda Marcos' closet during an earthquake.
Black slams the perspective perpetuated by many that this crisis was because unqualified buyers gaming the system. ie, That this crisis was created by the borrowers. Something we have also railed against. To believe an often underprivileged consumer got the best of a bank with a few hundred billion dollars in assets, tens to hundreds of thousands of employees and a legion of lawyers creating unreadable contracts and loopholes is a political position often perpetuated by Washington Republican neoliberal elites. Why? I can only imagine to lay blame on underprivileged and often minority borrowers without a voice in Washington. All with the intent of diverting attention from the true fraud that are the crooks on Wall Street and in doing so protecting Republican political income from financial lobbyists. Something both parties are equally guilty of. In fact Black talks about both parties stacking the House finance committee to get massive contributions for re-election.
Black is one of the best interviews of our time on Wall Street fraud because he is so knowledgeable. By the way, Black remarks that Wall Street banks are run by psychopaths. A position we have often remarked of on here over the years. ie, Just as the addict is drawn to Las Vegas for its various vices, so are psychopaths and sociopaths drawn to Wall Street where opportunity for power and control are without equal.
Still believe private banking is better run than a public banking system would be?
Part 1
Part 2
Part 3
Part 4
Part 5
It is one of the most important posts on this blog in my opinion. And if you didn't read it, I would encourage you to go back and do so. I cover many additional data points not discussed in Black's book on how the finance industry in the U.S. is well more corrupt and affects your personal livelihood in ways most people don't generally understand.
Anyhow, Black has unsurpassed credentials as a Wall Street fraud expert. No one in the world today has more substantial credentials than Black. Black was a(the) top government fraud investigator put in place to determine the cause of one of the prior Wall Street bilkings of society's money. A scam that almost took down the American economy in the late 1980s -the savings & loan crisis.
Is it any surprise you don't see him on the mainstream media outlets? Seriously? Politicians created Wall Street's ability to perpetuate fraud while both Washington and Wall Street profited from it. A substantial investigation that was serious about convicting fraud would lead right back to Washington as the rats abandoned ship to save themselves.
Black remarks in this new interview (links below) that there are so many more shoes to fall it will be like being in Imelda Marcos' closet during an earthquake.
Black slams the perspective perpetuated by many that this crisis was because unqualified buyers gaming the system. ie, That this crisis was created by the borrowers. Something we have also railed against. To believe an often underprivileged consumer got the best of a bank with a few hundred billion dollars in assets, tens to hundreds of thousands of employees and a legion of lawyers creating unreadable contracts and loopholes is a political position often perpetuated by Washington Republican neoliberal elites. Why? I can only imagine to lay blame on underprivileged and often minority borrowers without a voice in Washington. All with the intent of diverting attention from the true fraud that are the crooks on Wall Street and in doing so protecting Republican political income from financial lobbyists. Something both parties are equally guilty of. In fact Black talks about both parties stacking the House finance committee to get massive contributions for re-election.
Black is one of the best interviews of our time on Wall Street fraud because he is so knowledgeable. By the way, Black remarks that Wall Street banks are run by psychopaths. A position we have often remarked of on here over the years. ie, Just as the addict is drawn to Las Vegas for its various vices, so are psychopaths and sociopaths drawn to Wall Street where opportunity for power and control are without equal.
Still believe private banking is better run than a public banking system would be?
Part 1
Part 2
Part 3
Part 4
Part 5
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