Banking Expert Who Exposed Savings & Loan Corruption Joins Sanders Campaign

By Reno Berkeley
Crossposted from

An expert in banking corruption and finance has joined the Bernie Sanders campaign. William K. Black, an associate professor at the University of Missouri-KC, is Bernie Sanders’ new economic advisor. Black was one of the central figures in exposing and prosecuting corruption in the savings and loan crisis from the late 1980s and mid-1990s. His addition to the Sanders campaign brings important knowledge in laws pertaining to finance and banking.

The savings and loan banking crisis resulted from a multitude of causes, one of which were two laws that helped deregulate them. The Depository Institutions Deregulation and Monetary Control Act of 1980 was signed into law by President Jimmy Carter. That law allowed credit unions and savings and loans to offer checking deposits, and to charge any loan interest rate they chose.
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5 responses to “Banking Expert Who Exposed Savings & Loan Corruption Joins Sanders Campaign

  1. Missed this – congrats! 🙂 This is great news, really good to see!

  2. roger erickson

    Biggest step since Pecora joined the FDR administration

  3. Bernie was interviewed by George S. this AM and answered one question about banks by repeating Bill Black word for word! Bernie is definitely listening to him.

  4. p craig mhsg

    Authenticity describes Bernie Sanders, same goes for Mr. William K. Black, same goes for Sanders supporters-Same goes to the fast food workers who got so much rolling. Authenticity! Thank you Mr. Black for keeping history alive and truthful- There is something appealing about dealing in facts and living with the truth-

  5. I taught economics for 25 years. Bring back usury laws, glass steagle, give homeowners private right of action and get rid of Fannie and Freddie right to preemption and force all of the financial institutions to give principal reduction and debt forgiveness.