TBTF Sheriff Bill Black on the MF Global Cover-up: "All those that doeth Evil hateth the light!"

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Welcome to Capital Account. The Federal Reserve Bank of Dallas says Dodd-Frank did not end too big to fail, and says we must downsize the TBTF monsters in the view of Richard Fisher. This, as some US lawmakers are working to push back the timeline for a key part of Dodd-Frank, the Volcker Rule...a rule regulators and banks already appear to be hollowing out. We'll look at what the costs of these actions could be


Meanwhile, the "Corzine Rule" is reportedly gaining momentum -- this would restrict what brokerage firms can do with customer money. Before looking forward -- what about the unanswered questions and accountability in the MF Global bankruptcy and what we consider theft of customer money? We'll talk to William K. Black, the former regulator who oversaw prosecutions of bankers for fraud during the S&L crisis to find out what it would take to see justice in this case. We will discuss some of the peculiarities surrounding the MF Global bankruptcy, the decision by CFTC chairman Gary Gensler to proceed with a Chapter 11 bankruptcy as per the SEC, with a SIPA/SIPC liquidation for the brokerage unit, which put the customers on even footing with the creditors, instead of a Chapter 7 bankruptcy for the entire company. We ask Bill Black if this is an example of control fraud and regulatory capture, and where a crime has been committed here.


Meanwhile, do you think we have enough lawyers in the US already? Well, you may be happy to hear this...the organization behind the law school admissions test -- the LSATS -- saw the largest decline in people taking the test in more than a decade. Is "the law" in a bear market? Demetri think so. He says the bear market in the legal system is the corollary for the bull market in whistle blowing. Otherwise, you wouldn't need monetary incentives beyond what is already in place to get lawyers to prosecute crimes. Whistle blowers make it easy for the prosecution.

• Category

  News & Politics

[rthompsontrucking]

Way to rip it up Demetri, this show is great!

[mcmal1bu]

Rosie cheeks and forest green.. sooooo distinguished with those glasses.. WOW! You’re such a fashion monger!! Great guest!!! AND fantastic questions~~

Stay on mf globular!! Don't let up, hammer, hammer, hammer until somebody does something, they can't ignore you forever! Shine the light and watch the roaches scurry…

[MustacheVerra]

Thanks.

[majik2hanz]

Final broadcast January 4, 2013 R.I.P.

Ms. Lyster moved to Yahoo Finance' "Daily Ticker" show. She still interviews many of same people in the industry but is confined to less than 5 minutes rather than having 27 minutes with RT

On Yahoo Daily Ticker she seems harried and not as happy as she was with RT when doing the Capital Account show.

[Diane Lang]

Using John McCain in an ad blows your cred . .blows it . blowwwwwwwwwwwwwwwwwwwwwwwwsss­ss it. BUT William Black rocks it. As for you perverts commenting . you suck moldy used tea bags . get it . good.

[MustacheVerra]

What happened to this show?

[Trey D]

lauren, i bet you are wearing black satin panties under that black outfit, id like to sniff them after you do this segment and lick your heels too

[Trey D]

Lauren L. does "m-hm" very often and very fast

[fight2Bfree]

Nice catch RT. You hit the jackpot with Lauren.

[tayronachan]

The Fed Gov will be stealing our money soon to pay down the National Debt. There will be a "Bank Holiday" and when are able to access your account again, there will be 50% of it gone. Wake up people. Put your money in silver and gold, and keep at least a month of two of food in your house. It might be a good idea to buy at least a birdgun (shotgun) to protect your junk. Ron Paul called it.

[pound7]

what is the jobs bill, that Black refers to.  What's so bad about it? Can someone please post a link that help explains?

[thawthepast]

Thanks...it was getting a bit deep and the law enforcement was tabled... ..the bathroom smells used! :-)