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William K. Black: Justice Department is the Dog that has Refused to Bark for a Decade

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Uploaded on Dec 8, 2011

Watch more Capital Account @ http://www.youtube.com/CapitalAccount
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From Goldman Sachs to governor to grilling, Jon Corzine former CEO of the now bankrupt MF Global testifies on Capitol Hill. He claims he is clueless about how and where the possible $1.2 billion dollars of his client's money is that is missing. How has all of this happened three years after the financial crisis when Wall Street was supposed to be reined in? And can we expect anything o change? We speak to William K. Black, a former regulator who during the Savings and Loan crisis oversaw more than 10,000 criminal referrals, 1,000 felony convictions, and where hundreds of bankers went to prison. He says Corzine doesn't have a viable defense of being not involved in the firm's day to day activities with this much money at stake, but that the Justice Department has been the dog that "refuses to bark" when it comes to prosecuting financial executives.

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