May 25, 2013

Bill Black: Our System is So Flawed That Fraud is Mathematically Guaranteed

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.

A warning: there's much revealed in this interview to make your blood boil.