Category Archives: William K. Black

Will those who led the financial system into crisis ever face charges?

Posted on January 25, 2016 by Devin Smith | 3 comments

This is Terry Carter’s latest work and appears in the American Bar Association Journal. He interviews Bill Black along with other prominent figures about the lack of prosecution brought against those responsible for the financial crisis. You can read it here.

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Posted in William K. Black

Tagged banksters, criminogenic environment, the great financial crisis, white collar crime

Wall Street Declares War on Bernie Sanders

Posted on January 25, 2016 by William Black | 20 comments

By William K. Black

Wall Street billionaires are freaking out about the chance that Bernie Sanders could be elected President. Stephen Schwarzman, one of the wealthiest and most odious people in the world, told the Wall Street Journal that one of the three principal causes of the recent global financial trauma was “the market’s” fear that Sanders may be elected President. Schwarzman is infamous for ranting that President Obama’s proposals to end the “carried interest” tax scam that allows private equity billionaires like Schwarzman to pay lower income tax rates than their secretaries was “like when Hitler invaded Poland.”

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Posted in William K. Black

Tagged 1%, banksters, bernie sanders, wall street

NEP’s Bill Black on The Real News

Posted on January 23, 2016 by Devin Smith | 2 comments

Bill appears on The Real News along with Public Banking Institute founder Ellen Brown. They are discussing Hillary’s record on regulating Wall Street. You can watch the video below and for the video with transcript, you can visit The Real News here.

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Posted in William K. Black

Tagged banksters, Hillary Clinton, wall street

Bernie Sanders Decries Lack of Wall Street Prosecutions

Posted on January 7, 2016 by Devin Smith | 1 comment

NEP’s Bill Black appears on The Real News and says it’s important to reimplement the Glass-Steagall Act – but it’s not enough to prevent another financial crisis. You can view here with transcript or watch video below.

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Posted in William K. Black

Tagged banksters, Financial crisis, glass-steagall, wall street

Neil Delamere Talks Economics with Bill Black

Posted on November 15, 2015 by Devin Smith | Comments Off

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NEP’s Bill Black talks economics and the Irish economy with Neil Delamere on Neil’s Sunday Best program. You can listen here.

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Posted in William K. Black

Tagged ireland, Kilkenomics

Can the Bank of England’s New ‘Ring-fencing’ Rules Work?

Posted on October 22, 2015 by Devin Smith | 1 comment

NEP’s Bill Black and Wharton professor of legal studies and business ethics Peter Conti-Brown discuss the Bank of England’s move to re-regulate the banking industry in Britain and protect depositors and taxpayers. You can view the article and listen to the podcast here.

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Posted in William K. Black

Tagged Bank of England, banking, banksters

If the Justice Dept Wants to Punish Corporate Crooks, Here’s How

Posted on September 23, 2015 by Devin Smith | Comments Off

NEP’s Bill Black appears with Richard “RJ” Eskow on the Zero Hour discussing the DOJ’s change in stance regarding prosecuting elite white collar criminals. You can view the video below.

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DOJ’s Rules for Wall Street Are Nothing New

Posted on September 11, 2015 by William Black | Comments Off

David Cay Johnston, Brandon Garrett and NEP’s Bill Black appear on HuffPostLive discussing DOJ’s rules for Wall Street. You can view it here.

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Now the DOJ Admits They Got it Wrong

Posted on September 11, 2015 by William Black | 12 comments

William K. Black

September 10, 2015

By issuing its new memorandum the Justice Department is tacitly admitting that its experiment in refusing to prosecute the senior bankers that led the fraud epidemics that caused our economic crisis failed. The result was the death of accountability, of justice, and of deterrence. The result was a wave of recidivism in which elite bankers continued to defraud the public after promising to cease their crimes. The new Justice Department policy, correctly, restores the Department’s publicly stated policy in Spring 2009. Attorney General Holder and then U.S. Attorney Loretta Lynch ignored that policy emphasizing the need to prosecute elite white-collar criminals and refused to prosecute the senior bankers who led the fraud epidemics.

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12 Comments

Posted in William K. Black

Tagged banksters, DOJ, white collar crime

The Worst of the Worst of the Worst: New Century and its Economics Shills

Posted on August 10, 2015 by William Black | 10 comments

By William K. Black
Bloomington, MN: August 8, 2015

I have often noted the existence of a primitive tribal taboo shared by virtually all economists against using the “f” word – “fraud.” I have found a new example that sums up many of the pathologies of economics and economists. It is an article entitled “Going for Broke: New Century Financial Corporation, 2004-2006.” Given that New Century was a classic accounting control fraud, the use of the long-discredited gambling metaphor (our “autopsies” of S&L failures refuted it in 1984) demonstrates the crippling power of the taboo. The three economists who authored the September 2010 article are Augustin Landier (Toulouse School of Economics) David Sraer (Princeton University) David Thesmar (HEC & CEPR) (collectively, “LST”).

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