Posted 2 years ago on Jan. 26, 2012, 1:35 a.m. EST by Middleaged
This content is user submitted and not an official statement
William Black is a Professor of Law at UMKC. He is a former regulator in the banking industry and was key witness in defending individual taxpayers (FDIC Insurers) and individual rights against accounting fraud that characterized the Savings and Loan Banking Scandal of the 1980s.
1) Perverse Incentives 2) Dishonest deals Displace Honest Economic Activity 3) Characteristics of Criminal banking Activity 4) Lack of Prosecutions 5) Hope for Prosecutions
Click on any link. The first link is shorter.
Brief 17 minutes run down on current environment: http://www.youtube.com/watch?v=u9Qe0HlKKfw Teaching session 56 minutes: http://www.youtube.com/watch?feature=endscreen&NR=1&v=6YT84CokUsA Controversy about firing US AG: http://www.youtube.com/watch?v=I12oDVr2RZQ&feature=related
Last week I was sugesting the following as Truth:
1) We need the FED (US Federal Reserve which prints US Dollars) to back up the SEC Court Costs and Law Suits with unlimited US Dollars (Securities Exchange Commission) - since the SEC doesn't have the budget to fight Big (TBTF) Banks in Court. 2) The SEC often settles or makes deals to accept a penalty from the bank with the biggest banks on charges of money laundering or other banking violations. 3) Too Big To Fail (TBTF) banks often repeat violations within 1-2 years for behavior they agreed in court to stop engaging in. 4) How can any little guy with a limited budget compete with big lobbyist and big corporations with Billions of Dollars? 5) End lobbying by Foreign Interests Today. 6) End Lobbying in Washington DC Tomorrow as the first step in Campaign Finance Reform.