William K. Black on Financial Fraud

William K. Black talks with EconTalk host Russ Roberts about financial fraud, starting with the Savings and Loan debacle up through the current financial crisis. Black explains how bank executives can use fraudulent loans to inflate the size of their bank in order to justify large compensation packages. He argues that “liar loans” were a major part of the crisis and that policy changes made it easy to generate such loans without criminal repercussions.

Reposted with permission of New Economic Perspectives.

Tags: Bank Executives, Compensation Packages, Control Fraud, Current, Debacle, Economic Perspectives, Econtalk, Financial Crisis, Financial Fraud, Fraudulent Loans, Liar, liar loans, Repercussions, Russ Roberts, Savings And Loan, William K. Black

This entry was posted on February 8, 2012 at 10:01 am and is filed under Contributors- Economic and Financial, Economic and Financial Features, William Black. You can follow any responses to this entry through the RSS 2.0 feed.