Econintersect: Marshall Auerback, Director of Institutional Partnerships at the Institute for New Economic Thinking (INET), recently interviewed William K. Black. Black, Associate Professor of Economics and Law, University of Missouri Kansas City. The topic was prosecution of fraud involved in the Great Financial Crisis of 2008. Black is a particularly suitable person to address this question – he held several top prosecutorial positions during the Savings & Loan crisis 1984-1989. Video of the 20 minute interview follows the Read more >> jump.
Black has been continuously documenting the lack of criminal prosecution in the 21st century for financial fraud occurring at the highest level. He is uniquely qualified by his famous history, as documented by Bill Moyers (from Wikipedia):
“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.”