Deregulation is a dirty word today. But who and what allowed it to happen? William K. Black, former senior regulator during the savings and loan crisis tells us what he thinks happened and why the bailout is flawed. Black has argued recently that Wall Street's crisis could not have happened if not for illegal fraud and that triple A ratings given to bad loans amount to a criminal cover up. Black is the author of The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry.
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William K. Black: How Deregulation Happened
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The most ensightful interview I have ever seen. I voted for Obama and without out a doubt light years ahead of McCain I now wonder about his selection of regulators. I think we need to have Mr Black in charge of the banks. I have sent a message to the White House and encourage everyone else to do the same demanding William Black appointment to the head of banking regulators.
By irongatesoffate on May 12th, 2009 at 9:56 pm