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 pointed out that President Obama could implement it immediately. Our plan and approach virtually defines the word “pragmatic.” It would also transform finance and begin to end its corrupt culture.
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.
NEP’s Bill Black and Roosevelt Institute Fellow Mike Konczal take on the policies of the two contenders for the Democratic nomination in this appearance of The Real News. Getting the message out about Bank Whistleblowers United! You can view here (includes transcript).
[revised – Michael Winston’s bio added]
At this time (January 29, 2016), we consist of four founding members:
Our bios are listed at the end of this post. We share a number of common experiences. They explain why we came together to try to implement real reform. Continue reading
In order to restore the rule of law, we ask every candidate for the nomination of their party for the presidency to pledge that they will not take contributions from any financial firm (or contributions above $250 from their officers) that the United States or its agencies have, after investigation, charged with committing the legal elements of fraud. That list includes virtually all of the largest banks in the U.S. and Europe and Freddie and Fannie. Indeed, most of these financial giants have admitted that they conducted massive frauds.