Three former financial regulators testify to the House Financial Services Committee in support of reinstating Glass-Steagall legislation and addressing Too Big to Fail Banks.
Bill Black is a former bank regulator who played a central role in prosecuting the corruption responsible for the S&L crisis of the late 1980s. He is one of America's top experts on financial fraud. And he laments that the US has descended into a type of crony capitalism that makes continued fraud a virtual certainty - while increasingly neutering the safeguards intended to prevent and punish such abuse.
In this extensive interview, Bill explains why financial fraud is the most damaging type of fraud and also the hardest to prosecute. He also details how, through crony capitalism, it has become much more prevalent in our markets and political system.
The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&L Industry William K. Black
5 years ago