Bill Gross, Nouriel Roubini, Laurence Kotlikoff, Steve Keen, Michel Chossudovsky and the Wall Street Journal all say that the U.S. economy is a giant Ponzi scheme.Virtually all independent economists and financial experts say that rampant fraud was lar…
Posts Tagged ‘William Black’
Failing to Prosecute Wall Street Fraud Is Extending Our Economic Problems
December 13th, 2010 |
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Department of Justice “Crackdown” On Wall Street Is Just a P.R. Stunt Targeting Small-Time Crooks
December 8th, 2010 |
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Alan Greenspan, William Black, James Galbraith, Joseph Stiglitz, George Akerlof, Chris Whalen and many other economists and financial experts all say that the economy cannot truly recover unless those who committed fraud are prosecuted.So we should be…
Even Greenspan Admits that Moral Hazard and Fraud are the Main Problems
November 6th, 2010 |
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Even Alan Greenspan is confirming what William Black, James Galbraith, Joseph Stiglitz, George Akerlof and many other economists and financial experts have been saying for a long time: the economy cannot recover if fraud is not prosecuted and if the…
Another Nobel Economist Says We Have to Prosecute Fraud Or Else the Economy Won’t Recover
November 3rd, 2010 |
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As economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail.And Nobel prize winning economist George Akerlof has demonstrated that failure …
The Fraud Started At the Very Top: With Government Leaders
November 2nd, 2010 |
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The government’s entire strategy now – as during the S&L crisis – is to cover up how bad things are.But it is not only a matter of covering up fraud that has already happened. The government also created an environment which greatly encouraged fr…
Professors Black and Wray Confirm that Bear Pledged the Same Mortgage to Multiple Buyers
October 25th, 2010 |
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I have repeatedly pointed out that mortgages were pledged to multiple buyers at the same time. See this and this.Today, in another must-read piece, economics professors William Black and L. Randall Wray confirm:Several banks would go after the same …
Economist James Galbraith: Economists Should Move into the Background, and “Criminologists to the Forefront”
April 22nd, 2010 |
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University of Texas economics professor James K. Galbraith previously said that fraud caused the financial crisis:
You had fraud in the origination of the mortgages, fraud in the underwriting, fraud in the ratings agencies. Senator Kaufman said la…
Geithner: Pickpocketing Trillions from the People to Give to the Oligarchy Was “Deeply Unfair”, But We … Um … Had To
April 1st, 2010 |
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Tim Geithner told the Today Show that:It’s “deeply unfair” that some financial institutions that got taxpayer-paid bailouts are emerging in better shape from the recession than millions of ordinary Americans.Geithner also argued that President Barack O…
Everything You Need to Know About Dodd’s Financial Reform Bill: “This Legislation Will Not Stop the Next Crisis from Coming”
March 15th, 2010 |
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Instead of going into a lengthy analysis about the pros and cons of Chris Dodd’s financial reform bill, I’ll let the Senator speak for himself:This legislation will not stop the next crisis from coming. No legislation can…What Dodd is really saying i…
No Wonder the Economy Isn’t Improving
March 3rd, 2010 |
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I’ve read countless news headlines recently about how economists are “surprised” over an “unexpectedly bad” economic indicator.But it’s not surprising at all. It’s no mystery.The government hasn’t taken the necessary actions, and has instead been doi…
Former Managing Director of Goldman Sachs: Accounting Fraud of the Too Big to Fails May Be Worse Than Enron
December 2nd, 2009 |
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Nomi Prins – former managing director of Goldman Sachs and head of the international analytics group at Bear Stearns in London – is saying the same thing that financial bloggers have been saying: The giant banks are manipulating their books to make the…
The Ongoing Cover Up of the Truth Behind the Financial Crisis May Lead to Another Crash
October 15th, 2009 |
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William K. Black – professor of economics and law, and the senior regulator during the S & L crisis – says that that the government’s entire strategy now – as during the S&L crisis – is to cover up how bad things are (“the entire strategy is t…
The Economy Will Not Recover Until Trust is Restored
September 10th, 2009 |
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A 2005 letter in premier scientific journal Nature reviews the research on trust and economics: Trust … plays a key role in economic exchange and politics. In the absence of trust among trading partners, market transactions break down. In the absenc…