The following are excerpts from Danny Schechter’s article, “We Can't Let the Banksters Walk Away from Their Crimes”:
Although the financial crisis that swept the world may have started on Wall Street, it has brought down governments and shredded economic security worldwide, resulting in the loss of millions of jobs and homes as businesses collapse, foreclosures grow, credit tightens and communities are devastated.
Estimates of the damage run into the trillions.
Bloomberg. Could there be a reason why our elite keeps "losing" records of stuff? Could the reason be -- and this link, from Bill Black, is an absolute must read -- to conceal criminal behavior? Read more about Lehman: The dog ate my trading records
Who needs Princeton* and Chicago** when we've got UMKC***? It's Sunday morning, so I'll grab a money quote from Bill Black's three part series, but read parts one and two. They describe what we're up against: Theft, plain and simple, and demonstrable at law if the perps were brought before a court. Read more about Bill Black on our failure to hold thieving banksters accountable
From Naked Capitalism, William Black discusses the widespread criminality that is our current economic system:
Black is introduced around 5:34 (even though the first few minutes are good as well) and it lasts about 15 minutes before the Q & A
[Welcome, Naked Capitalist readers!* If any of you have tips for this series, please feel free to mail me at lambert_strether DOT corrente AT yahoo DOT com. --lambert] Read more about Day 3 of the "Why Won't #Krugman Post On Bill Black?" Watch
Come on. This story's been cooking since at least February, Hamsher's on the case, everybody who is anybody in Princeton listens to Bill Moyers, and the OFB think the story's important enough to shoot the messenger (and miss. Snicker).
And if Black is right, and accounting control fraud by the banksters is at the heart of our financial crisis, that has huge implications: Morally, legally, financially, politically. (That's why a Pecora Commission is on the "Make him do it" list.) And if he's wrong, it would really help to know that, and cross that worry off.
But Krugman's been silent. Curious, no? Read more about Day 1 of the "Why Won't #Krugman Post On Bill Black?" Watch
If you thought Black's truthtelling with Bill Moyers was incendiary, read his latest interview in Barrons. Just like his interview on Moyers, it's about as easy to excerpt as, say, an artillery barrage (and quite a contrast to spread-the-blame-around weak tea like this.) Herewith: Read more about The problem with Bill Black? He never says what he really feels. Not.
It's definitely night time for the economy, so why isn't the dog barking? Curious! Read more about So where's the #Krugman column on Bill Black and accounting control fraud at the banks?
S&L scandal's William Black on Bill Moyers: Tim Geithner "covering up" massive fraud by bailed out banksters
(For William Black, see Corrente on 2009-02-17; he's the S&L enforcer who took down Charles Keating, back in the day when we had a regulatory structure). Here's the Bill Moyer's transcript; trying to excerpt from it is like trying to excerpt a nuclear explosion, so read it all: Read more about S&L scandal's William Black on Bill Moyers: Tim Geithner "covering up" massive fraud by bailed out banksters