Search Results for: fraud recipe

Why did the Fed Refuse to Heed the Appraisers, Prosecutors, and Industry’s Fraud Warnings?

By William K. Black The Appraisers’ Warning of the Lenders’ Fraud Epidemic Two of my recent columns have explained the effort by a very large number of appraisers to combat the “Gresham’s” dynamic that home lenders and their agents were … Continue reading

Heeding the Appraisers’ Fraud Warnings Would have Prevented the Crisis

By William K. Black On July 9, 2013 I participated in a radio interview with a lobbyist for the 100 largest financial firms.  The San Francisco radio program host asked me what question I would ask the lobbyist and I … Continue reading

Discrediting Regulation: from George Stigler to Tyson’s Fraud-Free Carbon Tax Fantasy

By William K. Black (Cross posted at Benzinga.com) Laura D’Andrea Tyson (President Clinton’s principal economist) has written an ode to a “carbon tax” that does not acknowledge a single disadvantage or substantive (as opposed to political) concern with such a … Continue reading

The latest failed effort to blame the Community Reinvestment Act for Accounting Control Fraud

By William K. Black (Cross posted at Benzinga.com) Introduction The latest effort to blame the Community Reinvestment Act (CRA) for the epidemic of accounting control fraud that drove the crisis is an econometric study by Sumit Agarwal, Efraim Benmelech, Nittai … Continue reading

Charles Murray: Panderer to Fraudulent Plutocrats

By William K. Black Murray’s Divine Rights of Plutocrats Charles Murray believes that the wealthiest person should be made President of the United States.  “Who better to be president of the greatest of all capitalist nations than a man who … Continue reading

Geithner channels Greenspan and Airbrushes Fraud out of our Crises

By William K. Black On April 25, 2012, Treasury Secretary Geithner made remarkable statements about the role of elite financial fraud and greed in producing our recurrent, intensifying financial crises.  In this first installment I focus on the first of … Continue reading

The Value of Applying Control Fraud Research to Microfinance

By William K. Black My blog urging readers to look at a column by David Roodman and an article by Milford Bateman and his colleagues about the microfinance meltdown in Bosnia prompted strong exchanges between David and Milford. Their debates … Continue reading

Microcredit Accounting Control Fraud Deepens Bosnia’s Nightmare

By William K. Black I write to recommend reading David Roodman’s recent column in the Washington Post (“Microcredit doesn’t end poverty, despite all the hype”). Microcredit has been the fair-haired child in economic development despite very weak evidence that it … Continue reading

The Amazing Vanishing Act: Accounting Control Fraud Disappears from the Regulatory Lexicon

By William K. Black Criminologists know that accounting control fraud causes greater financial losses than all other forms of property crime – combined.  Some of the world’s best economists, George Akerlof and Paul Romer, praised the S&L regulators’ early recognition … Continue reading

President Obama’s view of fraud “from 40,000 feet” (without an oxygen mask)

By William K. Black(Cross-posted from Benzinga)Sixty Minutes’ December 11, 2011interview of President Obama included the following gem: KROFT: One of the things that surprised me the mostabout this poll is that 42%, when asked who your policies favor the most, … Continue reading