Tag Archives: William K. Black

William K. Black February 15, 2016     Bloomington, MN The Bank Whistleblowers United announce an early winner of our second Financial Fraud Lemons of the Week award, and it relates to our inaugural winner, the Department of Justice (DOJ) for its lies about the latest humiliating settlement with Morgan Stanley.  If DOJ had actually prosecuted the elite Morgan Stanley bankers that led its mortgage fraud epidemic the new winner of our lemons award could not have said what he did about that...

William K. Black February 10, 2016     Bloomington, MN I am writing as one of the four founding members of Bank Whistleblowers United.  We came together recently to create a detailed plan that could restore the rule of law to Wall Street and dramatically reduce the risk and damage of future financial crises.  We crafted it so that it could be implemented without any new legislation or regulation.  We offered our aid in the implementation process to any candidate who wins the election – and...

Bill appeared on CCTV America discussing the American economy with Rachelle Akuffo. You can view it here. [Translate]

Randy Wray and Bill Black appear on “Clearing the Fog.” You can listen to the podcast here. Bill, of the newly formed Bank Whistleblowers United, speaks about the plan they have outlined to instill the rule of law on Wall Street and end fraud with the hope of mitigating the effects of the next financial crisis. Randy, an expert in financial instability and macroeconomics, speaks about alternatives to the current financial system that would bring greater stability. [Translate]

Bill Black reviews the highlights and holes of the film The Big Short in 2 parts on The Real News. You can view part 1 here and part 2 is here. Both have transcripts. “Any request for loan level tapes is TOTALLY UNREASONABLE!!! Most investors don’t have it and can’t provide it. [W]e MUST produce a credit estimate. It is your responsibility to provide those credit estimates and your responsibility to devise some method for doing so.” [S&P 2001] [emphasis in original] [Translate]

William K. Black February 8, 2016     Bloomington, MN This is second article in my series on the AEI and Brookings report on how to fight poverty.  In my first article I dealt with their plan to oppose any material increase in the minimum wage being hyped by Eduardo Porter in the New York Times as a “bipartisan” plan to “champion an increase in the minimum wage.”  Indeed, Michael Strain, an AEI member of the group continues to attack the minimum wage on the AEI web pages after the release...

William K. Black February 7, 2016     Bloomington, MN The New York Times has produced a wonderful, unintended, juxtaposition in their pages on February 6, 2016.  Two articles report on think tanks calling for the government to engage in right-wing propaganda campaigns to restore “manly” men.  One article discusses the Chinese think tanks that have convinced the (Communist) government to engage in a massive propaganda campaign. Worried that a shortage of male teachers has produced a...

Bill Black explains why one of world’s largest investment firms Goldman Sachs is questioning the “efficacy of capitalism” and why its CEO is terrified of a Sanders presidency. You can view it here on the Real News (include transcript). [Translate]

William K. Black February 4, 2016     Bloomington, MN Former Secretary of State Hillary Clinton, in her debate with Senator Sanders minutes ago, said that she went to Wall Street and told them to stop their “shenanigans.”  The context was that she was being asked to respond to the complaint that she was too close to on Wall Street billionaires.  She had every incentive, therefore, to demonstrate how tough she would be on Wall Street.  In that context, the best she could muster was the...

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...