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Forum Post: William K. Black: 17 Minutes of a Lecture on the Nature of the Ciminology of the Current Crisis Which is Going Unindicted

Posted 4 years ago on Jan. 22, 2012, 8:10 p.m. EST by MonetizingDiscontent (1257)
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The Most Important 17 Minute Lecture You Will Hear in 2012

http://econintersect.com/b2evolution/blog1.php/2012/01/22/the-most-important-17-minute-lecture-you-will-hear-in-2012

-January 22nd, 2012-

Econintersect: William K. Black had a leadership role in the resolution of the Savings & Loan Crisis in the late 1980s and early 1990s. He was on the team of regulators that brought thousands of banking criminals to justice, including more than 1,000 top executives. In Black’s own words: http://neweconomicperspectives.blogspot.com/2011/03/fraud-and-financial-crisis.html

“If you go back to the savings and loan debacle, we got more than a 1,000 felony convictions of the elite. These are not, you know, tellers or something. We today have zero convictions, zero indictments, zero arrests of any of the elite, non-prime lenders that, through their fraud, drove this crisis.”

Below is a video of 17 minutes of a lecture on the nature of the ciminology of the current crisis which is going unindicted. The video is followed by breaking news on the web of fraud that is becoming further revealed as time goes on.

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Criminogenic Environments, Bubbles and Financial Crises:

(((VideoLecture))) http://www.youtube.com/watch?v=36kizAjPmuo&list=PL0F4ACDBAAD6AA9CA&index=2&feature=plpp_video

William Black, Associate Professor of Economics and Law, UMKC, at the UMKC Law Review Symposium. Recorded November 11, 2011.

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Dislosure: William K. Black is a frequent guest contributor to Global Economic Intersection.

The Huffington Post revealed this week that U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department's criminal division, were partners for years at a Washington law firm that represented a Who's Who of big banks and other companies at the center of alleged foreclosure fraud.
The article by Scot J. Paltrow was based on investigations by Reuters. Paltrow discusses the thousands of cases referred to Holder and the Justice Department that have been ignored.

The failure to pursue criminal indictments at high levels in the banking and mortgage industries has been getting more attention from political figures and legal scholars in addition to Prof. Black. An example comes from an excerpt from Paltrow (emphasis added):

In an interview in late 2011, Raymond Brescia, a visiting professor at Yale Law School who has written about foreclosure practices said, "I think it's difficult to find a fraud of this size on the U.S. court system in U.S. history."

Holder has resisted calls for a criminal investigation since October 2010, when evidence of widespread "robo-signing" first surfaced. That involved mortgage servicer employees falsely signing and swearing to massive numbers of affidavits and other foreclosure documents that they had never read or checked for accuracy.

Recent calls for a wide-ranging criminal investigation of the mortgage servicing industry have come from members of Congress, including Senator Maria Cantwell, D-Wash., state officials, and county clerks. In recent months clerks from around the country have examined mortgage and foreclosure records filed with them and reported finding high percentages of apparently fraudulent documents.

On Wednesday, John O'Brien Jr., register of deeds in Salem, Mass., announced that he had sent 31,897 allegedly fraudulent foreclosure-related documents to Holder. O'Brien said he asked for a criminal investigation of servicers and their law firms that had filed the documents because they "show a pattern of fraud," forgery and false notarizations.

An article on GEI Opinion today by Washington's Blog discusses the nature of the conflicts of interest surrounding Holder, Breuer and other members of the Justice Department.

Perhaps there will be some attention finally paid by the American people to the lecture that Prof. Black has been delivering for the past several years.


(((Sources Include))):

U.S. AG Eric Holder, DoJ Head Lanny Breuer Linked To Banks Accused Of Foreclosure Fraud

http://www.huffingtonpost.com/2012/01/20/eric-holder-banks-lanny-breuer_n_1218452.html

-1/20/2012-


Insight: Top Justice Officials Connected to Mortgage Banks

http://www.reuters.com/article/2012/01/20/us-usa-holder-mortgage-idUSTRE80J0PH20120120

-Jan 20, 2012-


Lack of Prosecution of Bank Fraud: Conflict of Interest?

http://econintersect.com/b2evolution/blog2.php/2012/01/22/lack-of-prosecution-of-bank-fraud-conflict-of-interest

-January 22nd, 2012 -


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4 Comments


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[-] 1 points by MonetizingDiscontent (1257) 4 years ago

(A few semi-recent-ish links from Bill Black)


::::::::::::::::Banksters - William Black Tells the Real Truth::::::::::::::::

(((Video))) http://www.youtube.com/watch?v=J8CqaHTygSc&feature=related

White Collar Criminologist and Former Regulator Bill Black, Describes Fraud and Liers Loans in the Economic Crisis to the House Financial Committee on CSPAN.


::::::::::::William K. Black discusses MF Global and Jon Corzine Culpability::::::::::::

(((Video))) http://www.youtube.com/watch?v=tPZ6KHLys5E

-12/08/11-

-'CapitalAccount'- speaks to William Black, a white-collar criminologist and former WallStreet regulator who during the Savings and Loan crisis oversaw more than 10,000 criminal referrals, 1,000 felony convictions, and where hundreds of bankers went to prison.

From Goldman Sachs to governor to grilling, Jon Corzine former CEO of the now bankrupt MF Global testifies on Capitol Hill. He claims he is clueless about how and where the possible $1.2 billion dollars of his client's money is that is missing. How has all of this happened three years after the financial crisis when Wall Street was supposed to be reined in? And the golden boys of Wall Street have their Goldman tentacles spread over the MF Global case. The head of the CFTC - MF Global's regulator - has recused himself from the MF Global probe because he worked with Jon Corzine at Goldman Sachs.


Bill Black @ #occupywallstreet on Arresting Banksters

(((Video))) http://www.youtube.com/watch?v=4XJe7O-3QBc&feature=player_embedded

-Oct 28, 2011-


William Black: Not With A Bang, But A Whimper: Bank Of America’s Derivatives Death Rattle

http://dailybail.com/home/william-black-not-with-a-bang-but-a-whimper-bank-of-americas.html

-Oct 19, 2011-


Former Financial Regulator William Black: Occupy Wall Street A Counter to White-Collar Fraud

(((Video))) http://www.youtube.com/watch?v=zq-sO_uNaFw

(DemocracyNow!) Amy Goodman interviews William Black, a white-collar criminologist, former financial regulator, and author of "The Best Way to Rob a Bank is to Own One." Black teaches economics and law at the University of Missouri-Kansas City and recently took part in Occupy Kansas City.

Uploaded by democracynow on -Oct 19, 2011-


[-] 2 points by DieNachthexen (103) from New York, NY 4 years ago

this is what we should be focused on in this forum; instead we get some stoner who keeps spamming us with "have you ever heard of Jacque Fresco" or worse

[-] 1 points by MonetizingDiscontent (1257) 4 years ago

~lol~

[-] 1 points by Builder (4202) 4 years ago

Video points to legalised and systematic criminality from top to bottom within the industry, and amongst those supposed to be working in over-sight.

No wonder there's been very few actual charges laid.

Where would you stop? The president himself?