Tag Archives: liars loans

Sheriff Bill at his best. Long and detailed analysis of liar's loans. New Economic PerspectivesBank Whistleblowers United Told DOJ to use 4506-T as Kryptonite v BankstersWilliam K. Black | Associate Professor of Economics and Law, UMKC

William K. Black February 4, 2016     Bloomington, MN This is the fourth part of my series on the lies about “liar’s” loans that suffuse the Wall Street Journal article reporting that “big money managers” want to bring back “liar’s loans.”  This part focuses on the fact, which the WSJ treated as so obviously reasonable that it was unworthy of analysis, that: Money managers want to bankroll the loans while relying on the mortgage firms to handle the process with borrowers, basically acting...

William K. Black February 3, 2016     Bloomington, MN This is the second article in my series prompted by the Wall Street Journal report that “big money managers” want to bring back “liar’s loans.”  Given that the best study of liar’s loans during the crisis found a fraud incidence of 90% — this is a startling proof of how openly addicted to fraud the “big money managers” remain.  It demonstrates some of the terrible costs of the Department of Justice’s refusal to prosecute the fraudulent...