Former Financial Regulator William Black Occupy Wall Street A Counter to White-Collar Fraud

[marmar]

Run time: 18:03 https://www.youtube.com/watch?v=JmavrUzFuQw   Posted on YouTube: October 20, 2011 By YouTube Member: asian1erTheDestroyer Views on YouTube: 63   Posted on DU: October 21, 2011 By DU Member: marmar Views on DU: 2000

 

DemocracyNow.org - Democracy Now! broadcasts on the road from Kansas City, Missouri, today. Amy Goodman interviews William Black, a white-collar criminologist, former financial regulator, and author of "The Best Way to Rob a Bank is to Own One." Black teaches economics and law at the University of Missouri-Kansas City and recently took part in Occupy Kansas City. "If you look not just nationwide, but worldwide, you will see some pretty consistent themes developing," Black says. "That includes, we have to deal with the systemically dangerous institutions, the 20 biggest banks that the administration says are ticking time bombs. As soon as one of them fails, we go back into a global crisis. We should fix that, there's no reason have institutions that large. Accountability is also a theme, that we should put these felons in prison ... And that we should get jobs now and that we should deal with foreclosure crisis. ... Those are four common themes you can see in these protests... I think over time you'll not necessarily have some grand written agenda, but you will have increasing consensus, a broad consensus."

[xiamiam]

1. this needs to be at the top..nt

[avaistheone1]

2. Agree.

k&r

:kick:

[Enthusiast]

3. This must be at the top.

We shouldn't have to put up with this criminality. Does the Obama Administration actually believe there will forever be no consequences? OWS should have millions of participants.

[IDeClaire]

4. Excellent, thank you.

I've seen William K. Black on various news shows but didn't remember his name. Now I do, and I learned some things that I hadn't already know. That's always a good thing!

[Granny M]

5. K&R

Excellent. Shameful that the lion's share of the funding goes into fighting blue collar crime, when the white collar crime is far and away the most destructive. The biggest thieves are walking away with the country.

[civilisation]

6. Yes, fire those bankster thieves!

If they are not fired Obama may be the LAST president, as the whole house of cards is already falling and they are just trying to add more cards to the pyramid.., Obama needs to act, at least try! Put in some people who actually understand what is happening, giving them a chance of steering this dive into a softer landing than these current bankster idiots are pushing for.

[vanbean]

7. This is so depressing.

[wxgeek7]

8. Shocking

Wow, I was shocked (though I shouldn't be, I guess) when I heard him say that during the S&L crisis, 10,000 criminals were referred to the FBI, yet not a single referral during the present one! And that the current situation is SEVENTY times worse! WTF?!

Mr President, why the hell are you allowing this??????

[The Outlier]

9. OWS and Citigroup Fraud

Left to their own devices, Wall Street financial institutions will “stuff a portfolio with risky mortgage-related investments, sell it to unsuspecting customers and bet against it…without telling investors of its role or that it had made bets that the investments would fall in value (NY Times, Citigroup To Pay Millions to End Fraud Complaint, 10,20,11).” This is an abrogation of fiduciary responsibility, immoral, unethical, abusive and should be illegal. The reason I say “should be” is because neither the Justice Department or the Securities and Exchange Commission will say whether Citigroup had committed a crime.

When you perpetrate fraud to the tune of hundreds of millions of dollars, you are a first-rate, top of the line, head of the class, unsurpassed, consummate and sublime rip-off artist! Continue reading → http://outlierideas.com/

[xiamiam]

10. k

[Quixote1818]

11. K and R