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Forum Post: Post Your Favorite Bill Black Video, Financial Crisis after Hill Testimony, Best US Voice on Fraud

Posted 1 year ago on Oct. 10, 2012, 9:04 a.m. EST by Middleaged (5140)
This content is user submitted and not an official statement

Was looking for a Quote on What the Fed war responsible for and What it was supposed to Regulate to refute the Quote from Tim Geithner. The answer should have been one that I had already. Bill Black and Bill Moyers said it all 23 April 2010.

http://www.pbs.org/moyers/journal/04232010/watch.html (Bill Moyers Journal Interview, Historical, Still worth reviewing for me anyway)

WILLIAM K. BLACK Fraud is deceit. And the essence of fraud is, "I create trust in you, and then I betray that trust, and get you to give me something of value." And as a result, there's no more effective acid against trust than fraud, especially fraud by top elites, and that's what we have.

A) Lehman was the #1 Dealer in Liar Loans.

B) Greenspan directly refused to allow the Fed to Regulate the Subprime Crisis.

C) Greenspan and the FED pushed for repeal of Glass-Steagal (Also see The Warning (Brooksly Born story))

D) Chris Cox gutted SEC Staff while at the SEC down to 24 People total Regulators

E) On the Brink of Global Collapse (Biggest Crisis in History) the FED sends only 2 people to handle and investigate the Crisis at Lehman

F) Ernst & Young Audit Firm directly supported the Fraud, Accounting Control Fraud

I've been quoting Bill Black all year in my writing... https://en.wikipedia.org/wiki/William_K._Black

Black was a central figure in exposing Congressional corruption during the Savings and Loan Crisis. He took the notes during the Keating Five meeting that were later published in the press, and brought the event to national attention and a congressional investigation.

According to Bill Moyers,

"The former Director of the Institute for Fraud Prevention now teaches Economics and Law at the University of Missouri, Kansas City. During the savings and loan crisis, it was Black who accused then-house speaker Jim Wright and five US Senators, including John Glenn and John McCain, of doing favors for the S&L's in exchange for contributions and other perks. The senators got off with a slap on the wrist, but so enraged was one of those bankers, Charles Keating — after whom the senate's so-called "Keating Five" were named — he sent a memo that read, in part, 'get Black — kill him dead.' Metaphorically, of course. Of course."[4]

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[-] 3 points by shadz66 (19985) 1 year ago

"Formula For Fraud" with William K. Black - from the first Italian economic Summit on Modern Money Theory in Rimini, Italy. "How to become a billionaire - the four necessary ingredients in the recipe for fraud ; the three sure consequences of banking control fraud ; the total gutting of the underwriting process ; Gresham's Law ; The Business Roundtable ; hyperinflation of a bubble." :

Re. the excellent and inestimable Professor William K. Black :

fiat lux ...

[-] 2 points by Middleaged (5140) 1 year ago

Amazing Audio of Bill Black! Shadz66, you are doing God's work ... and I'm not really religious. This audio moved to the top of my List.

[-] 2 points by shadz66 (19985) 1 year ago

Also re. Professor William. K. Black, please see :

  • http://rt.com/programs/keiser-report/episode-350-max-keiser/ : In this episode, Max Keiser and Stacy Herbert demonstrate the effects of money printing and Central Bank madness with a hyperinflationary chicken. They also discuss the Securities and Exchange Commission losing its mind as it sues the one rating agency NOT on the payroll of Wall Street. In the second half of the show, Max Keiser talks to Professor William K. Black about Deferred Prosecution Agreements, the Financial Conduct Authority and London as the capital of fraud.

  • http://maxkeiser.com/?s=William+K.+Black .

Thanx 'M' for your kind words and contribution here.

multum in parvo ...

[-] 1 points by Middleaged (5140) 1 year ago

a posse ad esse

I have much to learn from Bill Black. I'm a slow reader, so just a little each day I guess.

[-] 2 points by Middleaged (5140) 1 year ago

This is our hope. We hope and maybe have faith that what is possible will move to being actual. "from being possible to being actual"

sine scientia ars nihil est

Many on this Forum now have the Knowledge of Financial Schemes. So perhaps everyone is look toward their next actions. What do we do next. Or maybe I am not a player in the next act of the Financial Scandals to come... Is there something we can do stop more fraud, take risk out of the system, educate government employees to avoid financial schemes, spread the work to workers to keep financial schemes from their retirement and pension funds.

stamus contra malum

Answers:

1) sub poena - Under Penalty, those that testified in Congress were not held to penalty. In fact I think the Bankers all got there bare asses kissed by US Congress.
2) veritas omnia vincit - "truth defeats all things"
3) vox populi - "voice of the people"
4) per aspera ad astra - "through hardships to the stars"
5) pacta sunt servanda - "agreements must be kept" (US People expect the Rule of law, Individual Rights, Justice, Equality, Fair Government, No Taxation without Representation, etc.
6) post tenebras lux - "after darkness, light"
7) primum movens - "prime mover"
8) prior tempore potior iure - "earlier in time, stronger in law"
9) pro patria - "for country"
10) multis e gentibus vires - "from many peoples, strength"
11) mutatis mutandis - "with those things changed which needed to be changed"
12) nemo me impune lacessit - "no one provokes me with impunity"
13) nil admirari - "be surprised at nothing"
14) non ducor duco - "I am not led; I lead"
15) Non scholae sed vitae discimus - "We learn not for school, but for life."
16) nunquam non paratus - "never unprepared"
17) historia vitae magistra - "history, the teacher of life"
18) Illegitimi non carborundum - "Don't let the bastards grind you down"
19) in flagrante delicto - "in a blazing wrong", "while the crime is blazing" (if we got the proof, prosecute them)
20) in necessariis unitas, in dubiis libertas, in omnibus caritas - "in necessary things unity, in doubtful things liberty, in all things charity"
21) in personam - "into a person" (Get the Frausters in Court)
22) ipsa scientia potestas est - "knowledge itself is power"
23) ipso facto - "by the fact itself" (Convict them on the facts)
24) Index Librorum Prohibitorum - Expose the books of Rogue Corporations and we can see how salaries, compensation and bonuses are looting the business and how High Risk, High Leverage Deals put the burden on taxpayers and make wage earners lose jobs.

What to advise against:

1) video et taceo - "I see and keep silent"
2) video sed non credo - "I see it, but I don't believe it"
3) volenti non fit injuria - "to he who consents, no harm is done"
4) pons asinorum - "bridge of asses"
5) mundus vult decipi - "the world wants to be deceived"
6) nolle prosequi - "to be unwilling to prosecute"
7) non progredi est regredi - "to not go forward is to go backward"
8) obscuris vera involvens - "the truth being enveloped by obscure things"
9) orbis non sufficit - "the world does not suffice"
10) In omnibus requiem quaesivi, et nusquam inveni nisi in angulo cum libro - "Everywhere I have searched for peace and nowhere found it, except in a corner with a book"

[-] 2 points by shadz66 (19985) 1 year ago

Thanx for that extensive list 'M', I had rather a too much fun reading it, lol. Further re. Prof. Black, I also append : http://www.democracynow.org/2011/10/19/former_financial_regulator_william_black_occupy .

ipsa scientia potestas est ;-)

[-] 2 points by Middleaged (5140) 1 year ago

per ardua

[-] 2 points by Renneye (3856) 1 year ago

Thanks Middleaged! I'm in a weird mood...Lol!! They're all so good, its hard to pick a favourite. But under 'answers'...I would have to pick...

2) veritas omnia vincit - "truth defeats all things"

followed by...

6) post tenebras lux - "after darkness, light"

and under 'what to advise against'....

4) pons asinorum - "bridge of asses" (giggles!)

[-] 2 points by Middleaged (5140) 1 year ago

Yes, it is on Wikipedia, Latin Phrases. #9 was used in James Bond Movie. http://en.wiktionary.org/wiki/Appendix:List_of_Latin_phrases

[-] 2 points by Renneye (3856) 1 year ago

Thanks Middleaged. I was going to go to sleep, but then a certain someone showed up to try and fool us again...so I let him know I'm aware of who he is.

I'm so tired I'm about to keel over. G'nite

[-] 1 points by Middleaged (5140) 1 year ago

Nite, I had some laughs over Pons Asinorum as well...

[-] 1 points by Middleaged (5140) 1 year ago

The Best Way to Rob a Bank is still to Own One: a Postscript http://wallstreetexaminer.com/2012/10/09/the-best-way-to-rob-a-bank-is-still-to-own-one-a-postscript-william-k-black/
Posted on October 8, 2012 by Devin Smith |

By William K. Black

The central questions for a theorist are whether his theory showed strong explanatory power and to what extent it proved useful in diverse settings. A distinguished economist, Dr. Jayati Ghosh, has addressed those questions in an article in which she was explaining to Indian readers that a large fraud, Satyam, was not the product of unique defects in Indian regulation.

Posted in William K. Black

Tagged accounting control fraud, banksters, Control Fraud, Financial crisis, gresham's dynamic

http://neweconomicperspectives.org/2012/10/american-weirdness-seeks-to-intervene-in-honduras.html American weirdness seeks to intervene in Honduras

Posted on October 8, 2012 by Devin Smith |

By William K. Black

Michael Strong is an American businessman who is a devotee of the Austrian school of economics. Austrians view democratic governance as so inherently illegitimate that they claim that virtually any governmental program irretrievably consigns us to the “Road to Serfdom.” Strong has decided to save Hondurans from their government. He wants his corporation to buy a Honduran city named Puerto Castilla and turn it into his first global “model city.” The Honduran government, which holds power through a coup that the Bush administration and the IMF applauded, approved the sale. The Honduran government is strongly identified with Honduras’ wealthy elite. The constitutional chamber of Honduras’ Supreme Court (which provided a fig leaf of respectability for the coup) rule 4-to-1 that it was unconstitutional to create privately run cities. (The decision is expected to be appealed to the full Supreme Court.)

Posted in William K. Black

Tagged accounting control fraud, Control Fraud, libertarian, privately run cities

Ideology trumps science and blocks regulation http://www.benzinga.com/12/10/2975797/ideology-trumps-science-and-blocks-regulation
Posted on October 8, 2012 by Devin Smith |

By William K. Black (Cross posted at Benzina.com)

This column was prompted by a story that ran Friday entitled “Congressman Calls Evolution Lie from ‘Pit of Hell.’” Yes, unintentional self-parody continues to reign supreme.


I see stories that aren't as easy to search for on Economics Websites that Bill Black has posted.

http://neweconomicperspectives.org/

Ryan Talks Jobs and Exposes the Lies about the 47% http://www.huffingtonpost.com/william-k-black/romney-jobs-47-percent_b_1935371.html
Posted on October 3, 2012 by Devin Smith |

By William K. Black (Cross posted at Huffington Post)

This Monday, I posted an article entitled: “Let’s test Romney’s claims about the 47% by offering the unemployed jobs.”

The article explained that Romney, Ryan, and Charles Murray claim that 47% of Americans receive governmental assistance because they are morally defective and shiftless. It goes through why Romney and Ryan know that they are lying when they use the 47% figure to slander Americans as refusing to “take personal responsibility and care for their lives” and as failing to pay taxes.

Let’s test Romney’s claims about the 47% by offering the unemployed jobs http://www.benzinga.com/12/10/2955424/lets-test-romneys-claims-about-the-47-by-offering-the-unemployed-jobs
Posted on October 1, 2012 by Devin Smith | 28 Comments

By William Black (Cross posted at Benzinga.com & Huffington Post)

I have explained how Governor Romney and Representative Ryan have self-destructed because they have followed Charles Murray’s demands that the wealthy denounce working class Americans’ supposed refusal to take personal responsibility for their lives by refusing to work. Murray is the far right’s leading intellectual. Murray’s Myth is that the wealthy are rich because they are morally superior to the lazy poor and that the poor are not employed because they are lazy. Murray’s explanation for his support for Governor Romney says it all: “Who better to be president of the greatest of all capitalist nations than a man who got rich by being a brilliant capitalist?”

Naked Capitalism.com

Bill Black: Dante's Divine Comedy – Banksters Edition « naked ...

Dec 16, 2011 ... With the nation wondering how to hold the bankers accountable, Bill Moyers sits down with William K. Black, the former senior regulator who ...

www.nakedcapitalism.com/.../bill-black-dante’s-divine-comedy-–-banksters- edition.html

Guest Post: William K. Black's Proposal for “Systemically Dangerous ...

Sep 23, 2009 ... William K. Black, Associate Professor of Economics and Law at the University of Missouri – Kansas City, and the former head S&L regulator, ...

www.nakedcapitalism.com/.../guest-post-william-k-blacks-proposal-for- “systemically-dangerous-institutions”.html

William Black: Theoclassical Law and Economics Makes the Law an ...

Aug 31, 2010 ... By William K. Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City and author of The Best Way to Rob a ...

www.nakedcapitalism.com/.../william-black-theoclassical-law-and-economics -makes-the-law-an-ass.html

William Black: Why aren't the honest bankers demanding ...

Apr 12, 2011 ... By William Black, a former Federal banking regulator and Associate ...... It's ironic and frightening, that William K. Black, a criminologist, does not ...

www.nakedcapitalism.com/.../william-black-why-arent-the-honest-bankers- demanding-prosecutions-of-their-dishonest-rivals.html

Bill Black: The High Price of Ignorance « naked capitalism

Nov 7, 2011 ... WILLIAM K. BLACK: Well, certainly in the financial sphere, I am. I think, first, the ...WILLIAM K. BLACK: The Pecora investigation. The Great ...

www.nakedcapitalism.com/.../bill-black-the-high-price-of-ignorance.html

Bill Black: More Proof of Obama Policy of Covering Up for Elite ...

Jan 10, 2012 ... William K. Black for Secretary of the Treasury, immediately! ... to tell them the worth of William K. Black to their university and the free world?

www.nakedcapitalism.com/.../bill-black-more-proof-of-obama-policy-of- covering-up-for-elite-financial-criminals.html

What the Mortgage Deal Reveals About The Obama Administration ...

Feb 10, 2012 ... William K Black it is…no more bushbama…who never makes a move on the basis of ethics…(I haven't perceived a non-political move from him ...

www.nakedcapitalism.com/.../what-the-mortgage-deal-reveals-about-the- obama-administration.html

Here is a site search GEI GlobalEconIntersect https://duckduckgo.com/?q=site%3Aeconintersect.com+%22William+K.+Black%22

[-] 2 points by Middleaged (5140) 1 year ago

Wow, I never knew how to search RT. Duckduckgo is very nice.

off subject but https://duckduckgo.com/?q=site%3Art.com+%22Michael+Scheuer%22

[-] 2 points by nomdeguerre (1775) from Brooklyn, NY 1 year ago

With William K. Black, Max Keiser and many others it's absolutely clear that our problems' causes are known. But who will call the looters to account?

[-] 2 points by Middleaged (5140) 1 year ago

You are right. It is about power and gold. He who has the Gold has the power over the Congress, Media, Government Control, Resource Exploitation, and continuing all the Myths of What America Is....

[-] 1 points by hchc (3297) from Tampa, FL 1 year ago

Its not up to the fed to monitor fraud. This entire system right now is nothing more than criminals monitoring criminals.

i person monitoring, 24 monitoring, or 2400 monitoring, no one is going to jail as long as Dems and Reps establishment control the rules.

[-] 2 points by nomdeguerre (1775) from Brooklyn, NY 1 year ago

The Fed has been a participant in fraud. The bailout of AIG was actually an illegal passthrough of public monies to aid the derivatives counterparties at a dollar on a dollar. They pretended it was a bailout of an insurance company, but AIG saw none (or little) of the money. Bernanke should be arrested.

[-] 1 points by Middleaged (5140) 1 year ago

The Video Directly Disputes Geithner's Statement that he is not a Regulator. That was what I was searching for.