Creative Finance: Leaving Felons in Charge of the Banks - YouTube:
This video is making its way to several of my favorite foreclosure fighting websites, and for GOOD REASON! This article references Frontline's article on the how the BANK CRIMINALS are getting away with crimes not only now but back during the Savings and Loan crisis. The speaker today is Bill Black who is a teacher of finance and economics at : University of Missouri Kansas.. He is a white collar criminologist, a former financial regulator and the author of "The Best Way to Rob a Bank is to Own One."
The tag on the video says it all: Obama Administration following logic that to not investigate and prosecute banking fraudLIsten to the video oabout banks, "too big to prosecute." How the banks are getting away with crimes (this is not new news to regular readers of this blog - but he has great video about it.)
Bill outlines the thinking that the victims are responsible for making sure that they were not hurt - and that victims of the fraud are to blame for the financial crisis. The OCC has said that there were no criminal referrals because there were no crimes. Of course we KNOW there were MANY CRIMES but the OCC made a deal with the banks to achieve a settlement that they hoped would shut up the foreclosure fighters.
Watch for his remaining comments throughout this video that pulls in a little history to go with the response to the financial crisis of today. I had to listen to it several times to get the full depth and details he presents. IT is easy to listen to without absorbing detail and getting the gist the situation -
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