New Economic Perspectives

Fannie Mae Hires an Officer it Alleges Defrauded it – and Finance Cheers- William K. Black

By William K. Black Three Bloomberg reporters have done the Nation a service by ferreting out a scandal of moderate magnitude but emblematic importance.  Dakin Campbell, Jody Shenn and Phil Mattingly broke the story on August 14, 2013 that Adam Glassner, recently described, but not named, in the Department of Justice’s (DOJ) fraud suit against…

The FBI’s 2010 Mortgage Fraud Report Reveals Why the Banksters Love Holder – William K. Black

By William K. Black The Obama administration’s continuation of the Bush administration’s refusal to prosecute the elite banksters (or even the vastly lower status CEOs of the fraudulent mortgage bank) that drove the crisis has made it clear that the rule of law no longer applies to wide ranges of life and that crony capitalism…

Why are Appraisers Furious at Fraud by their Peers while Corporate Lawyers are Complacent? William K. Black

by William K. Black I have done a series of articles about the efforts of honest appraisers (which began in 2000) and loan brokers to alert the lenders, the markets, and the government to the twin fraud epidemics (appraisals and “liar’s” loans) committed by lenders’ controlling officers that drove the financial crisis. Honest appraisers could…

Teaching White-Collar Crime – William K. Black

By William K. Black Despite an enviable predictive track record and the success of our policies when they are (rarely) put into practice, white-collar criminologists re overwhelmingly ignored in our core area of expertise by decision-makers whose policies are so criminogenic that they cause the epidemics of “accounting control fraud” that drive our recurrent, intensifying…

Is B of A the Most Embarrassing Department of Justice Suit Ever? – William K. Black

By William K. Black The Department of Justice’s (DOJ) latest civil suit against Bank of America (B of A) is an embarrassment of tragic proportions on multiple dimensions.  In this version I explore “only” seven of its epic fails. The two most obvious fails (except to the most of the media, which failed to mention…

The Broader Costs of Lethal Lemons: “We Have so Many Ranas” – William K. Black

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. By William K. Black This is the third article in a series on some of the additional lessons we should learn from the mass murder of Bangladeshi garment workers by anti-employee control frauds.  I discuss new allegations…

The Lethal Lemons on the Road to Bangladesh – William K. Black

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. By William K. Black I wrote yesterday about the “control frauds” (in which the person controlling a seemingly legitimate entity uses it as a “weapon” to defraud) that target purchasers of bad quality goods (“lemons”) and employees. …

What Does The Trillion Dollar Coin Do?

What Does The Trillion Dollar Coin Do?

By Joe Firestone The Trillion Dollar Coin proposal for solving the debt ceiling problem is again experiencing a blogosphere explosion this past week. The precipitating factor may be that people are starting to believe that the Republicans will come to … Continue reading

What Does The Trillion Dollar Coin Do?

Career Limiting Gestures (CLG): Trying to Speak Truth to Congress

Career Limiting Gestures (CLG): Trying to Speak Truth to Congress

By William K. Black At the large law firm where I began my professional career we were warned about making “career limiting gestures” (CLGs).  I confess to being an expert in committing CLGs, such that I am unemployable in the … Continue reading

Career Limiting Gestures (CLG): Trying to Speak Truth to Congress