April 22, 2010

William Black Shakes Up Wall St. At The Capitol

"We have to be blunt," said William Black, a former bank regulator, who emerged in the savings and loan crisis in the late 80's/early 90's.



The Huffington Post - William Black Warns That Financial Reform Bill Won't Stop The Wall Street Crime Wave:

The securities fraud case against Goldman Sachs is a powerful reminder that the financial crisis responsible for millions of lost jobs and lost homes wasn’t just the result of market vagaries and regulatory failure — it was also the result of massive fraud at all levels of the financial system.

This epidemic of fraud has gone largely uninvestigated and almost entirely unprosecuted.

And the incentive structures that led so many people to intentionally take advantage of so many others for personal gain remains largely unaddressed by the legislation being considered in Congress.

Continued. . .