Bill Black: Criminal Charges Must Be Laid - Former Finance Regulator

[heartlessvietboy]

What do you first hear? "Would you put an innocent man in jail or set a guilty man free?

[mynameisluke1971]

Bill Black for president! Elizabeth Warren for vice president!

[g7enn]

Google: Solari Update Subprime Mortgage Woes Are No Accident.

"In 1995, a Clinton Administration official shared with me targets for Fannie Mae & Freddie Mac mortgage volumes.... In 1995, I could see these plans would create unserviceable debt .... Homeowners would default on mortgages....

I said that the Administration issuing more mortgages than there were houses or residents. “Shut up, ...,” the official snapped."

[dgreer075]

It's not the University of Massachusetts in Kansas City.

UMKC is in Missouri, not Massachusetts :-).

[HongPong]

120 FBI agents working nationwide on all mortgage fraud?! Now that's what I call controlled demolition!

[LossAngeles]

Zero criminal referrals and 'looting with impunity' says it all. Great vid .

[StepUPNJ]

More statist BS....blah blah blah. This guy is a blowhard. Yes, there was fraud...duh! Solution...no bailouts! NOT more regs.

More regs = kill the small guys, prop up the big guys.

[emperorinsaino]

@StepUPNJ There was fraud because politicians listened to gangsters posing as bankers, and removed so much regulation that fraud was the rule instead of the EXCEPTION. There is nothing in this interview about "killing the small guys".

[StepUPNJ]

@emperorinsaino I didn't say that there was. Fact remains though, that is often the unintended (well, even that is questionable) consequence of regs from the government.

[cerebus2099]

@StepUPNJ Real investigations and prosecutions would be nice, instead of cliches that you supply. Is there some political reason that you believe we should ignore lender and wall street misdeeds?

[StepUPNJ]

@cerebus2099 I didn't say ignore the misdeeds. Read my first post. If there was no TARP, no bailouts, JP and GS would be put in their place. That's capitalism..when you fail, especially due to fraud, you don't get saved. Guaranteed, derivatives would be a thing of the past if they let them fail as they should have.

[WelfareRobot]

This report kind of sounds like the financial version of the 9/11 Report, eh?

[claytonemoorejr]

So, when all of these criminal fuckstains collapse all of the banks and (if we don't bail them out again) they all fail, then the entire monetary system would fail, right? Then, what would all of their stolen money be worth?

[yuri35435]

Hopefully the consumer protection agency mitigates the damage caused by future economic crises.

[jfarris4417]

America is the white-collar wild west. It's sad.  Only a bloody revolution will save us now.

[dookiecheez]

The thing that disturbs me the most is the libertarians that want less regulation even after the financial crisis. Sigh...

[cerebus2099]

@dookiecheez  totally agree with you there, they seem to have this dreadful willingness to ignore or condone these misdeeds. People like Tim Cavenaugh are dangerous in their hatred toward borrowers and those who have been harmed by this crisis.

[continuityofliberty]

@dookiecheez

Most libertarians seek quality over quantity - less is more when you create sensible regulations.

The problem is that we've seen the repeal of regulations that stabilize the system, provide a level playing field, and inhibit corruption.

What passes for regulation these days undermines the whole structure and provides loopholes and perks for favored entities - they're selectively enforced as well.

[dookiecheez]

@continuityofliberty

I know libertarian is a relatively diverse political philosophy, but I don't know if most of them are as rational as that. At the very least, outside of platitudes, I've only ever heard libertarians talk about less regulation which is quickly becoming very much like a platitude.

[wjksea]

@dookiecheez Yes, libertarians have a belief in no government except where they think government should be.

[marsCubed]

75 year & even longer term loans.

Banking 'innovation' for low monthly payments, inflating house price so it appeared selling would cover loan amounts.

+loans could be sold on at a higher price as bonds to other customers.

Higher risk = higher interest. Self destructive market demand.

Trickle-down hype kept ppl blind, greed encouraged.

On sale openly in high-streets. While regulators clinked glasses at conservative club.. er, I mean economic institutes in celebration of deregulated market magic.

[therookiecynic]

What everyone is calling "banks" really aren't banks anymore. They're giant hedge funds backed by the Federal Reserve. The American middle class will go the way of the dodo unless the stranglehold of fiat money, fractional reserve banking, and too-big-to-fail-status is broken.

[exsinor]

Everytime Republicans de-regulate or weaken the regulations for any industry, that industry robs the people it serves and the average taxpayer gets left with the bill.

[northerntropics]

Again and Again the Republicans insisting in the obviously insane (as in Saddam's 9-11 and WMDs) and spineless Democrats afraid of calling it like it is ( That Bush is a war criminal). In this case the financial thieves and speculators that have bought and bribed both sides thus Republicans insist in no regulation and Democrats insist in the theory that no crime was committed.

[invincibleironman3]

@northerntropics ..you already heard the justice department will be cut....the 9/11 attack destroyed the SEC Stockwatch mainframe (including Enron's evidence). This is a wholesale slash and burn engineered...you heard they transferred 500 investigators were switched out, and refused the FBI to hire agents.

[micahgee]

Thanks for the deregulation!

A massive financial crisis is only inevitable yet Obama talks about "coming out of the recession"

Now there is going to be LESS regulation thanks to the GOP-controlled house.

MASSIVE COLLAPSE IMMINENT

[tomm1111]

This interview should have 10 million views. Seriously.

[MrGAB4444]

The world continues to isolate the fiat US dollar, property and dollar based assets will continue to deflate while more crippling taxes, regulations & fees are loaded on.

We have not "pulled back from the precipice", another Obamanation lie, any logical person understands it is too late, we have unsustainable unfunded liabilities far beyond anything that can be realistically done.

People that have not prepared will be pushed over the precipice like so many buffalo stampeding.

[MrGAB4444]

Starve the NWO banks of your wealth and reject their fiat paper by any means that you can.

Let them print themselves, their 'green police' & war machine into collapse & their fiat dollar funded regulatory enforcement (slavery) system will collapse with it.

When you own gold OR SILVER you're fighting & weakening every central bank in the world, it is a threat to everything central banks stand for & their means of controlling you.

Your gold & silver will be worth more than you can imagine

V

[kdenninger]

You're about to get a lot of hits on this video ;-)

[watercup123456]

Hey alright real news!

[dink65]

Now they are pumping another Stock Market bubble to complete another round of wealth transfer. Amazing "gig" these Wall Street Crooks have going eh?

[IloveJesusYesId0]

Money Sucks

End Money

[MustacheVerra]

Thank you William and than you TRN.

[kcthinker]

This sounds like an other Enron play.

[vjames23]

@kcthinker lol thats all we got now an Enron economy.

[kcthinker]

@vjames23 I wish I could get a, "I told you so," award. Because, I was saying this back in 2001, while I was playing tennis with an appraiser.

These people need to go to jail.

[iknownothingnow]

Favored.

Criminal Fraud occured. The elite stole trillions of $ and the politicans that represent the elite and themselves continue protect the crooks.

[chi8cago]

If you want to know what's been happening with this crisis follow William Black. Look him up and listen to what he says. I wish I could study under him at his University.

[seshta]

Mr. Black deserves continued praise for making it all sooo understandable and for his courage in stepping forward on this issue. The groups, think-tanks and tax-exempt organizations that collude, control, and influence the boards of these banks, who then gave marching orders to upper level management in these banks to begin to ignore traditional, standard bank practices, these cabal(s) need to be exposed. They're the real culprits who engineered this financial crisis. 

[marsCubed]

It's precisely the bank & market spivs that ConLosers just won tax cuts for.

It trashed the working economy we had with scams.

Expensive luxury cars in beautiful leafy towns, the best apartments in the big cities, condescending 'expert' insurance salesmen & market finance wizards.

They spent everyone's pensions & savings for their own bonuses until everything was gone. AKA trickledown.

Then they got 'bailed-out' & handed massive tax cuts, in the name of free-markets & liberty.

[CP91311]

RICO was enacted by section 901(a) of the Organized Crime Control Act of 1970 (Pub.L. 91-452, 84 Stat. 922, enacted October 15, 1970). RICO is codified as Chapter 96 of Title 18 of the United States Code, 18 U.S.C. § 1961–1968. While its intended use was to prosecute the Mafia as well as others who were actively engaged in organized crime, its application has been more widespread

[gambit1357]

DECENTRALIZE BANKING!!

One way out of this mess...

watch?v=dsQV0mnXTTo

[davematherly]

Unlike with the S&L crimes of the 80s, Prof Black is being ignored by the MSM and our criminally complicit national govt. They're hoping he just goes away.

[StandUp555]

Yep .... the whole system is criminal .

It really is that simple.

Prof. Black ... one of the few honest men out there , should be given authority to investigate and lock these crooks up IMO.

Of course, will never happen.

So what's the next step ? ... Egyptian type of protest ?

[doobtribe]

The fox's keep guarding the hens house.

The future looks bright....another crash in 20 years or less.

[mikeoli]

@doobtribe less much less, you wlll crash in 2yrs as a matter of fact you are still crashing

[callouschristian]

How funny to see them scramble for their next phase of appeasement and deception in the face of egypt and tunisia. They are running scared and planning their next phase of attack....they need to bide their time....the heist isn't yet complete.

[RandallSteen]

None dare call it treason. Fascism is alive and well in America. Rex 84/Northcom/Fema camps are next. Just listen the cattle cars are coming.

[blkcola]

@RandallSteen - Talmudic, established fractional reserve banking in order to capture and control the world.

[slade420]

Reinstate the 1933 glass-steagall banking laws!!!!!!!! or this fraud will continue.

[Shisho2k]

@slade420 Sadly it'll probably still continue even if that's done. There's plenty of violations right now that would put these people behind bars.