Tag Archives: media coverage

The Race to the Bottom Produces Regulators who are Invertebrates and Epidemics of Fraud

By William K. Black
(Cross posted at Benzinga.com)

I examine how highly conservative newspapers are covering the interplay of widespread “control frauds” by the world’s most elite banks, the carefully structured de-evolution of financial regulators through descent from the subphylum Vertebrata into the phyla of the invertebrates, and the global failure to prosecute the elite frauds that drove the ongoing financial crisis.  The three factors are interrelated.  Vigilant financial regulators serving as the vital “regulatory cops on the beat” are essential to the successful prosecution of large numbers of elite financial frauds.  Continue reading