Posted 5 years ago on Feb. 16, 2013, 12:38 p.m. EST by Middleaged
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WHY WE NEED BILL BLACK on Website BackBillBlack.com
Justice is the Foundation for a Stable Economy and Democracy.
The project is to get Obama to Appoint someone strong to bring Justice to our Country in the Financial & Economic Business Areas. You can click to subscribe, click to send a message to Legislators, and he has blogs and videos.
Bill Black was a regulator during the Reagan Administration. Following the S&L crisis, Bill Black and his team put over 1,000 elite criminals in prison. According to Bill Black, our crisis was 70 times the magnitude of the S&L crisis, and there was a commensurate amount of fraud leading to it. We have seen no meaningful investigations or prosecutions.
Visit the Website to read the short Intro. It is well written.
Read more from William K. Black all over the web. He is a great writer. And he is a great American.
Bill Black is a professor of Law and Economics.
WHY WE NEED BILL BLACK:
In 2008, the USA experienced a massive financial crisis brought on largely by fraud in the financial sector. The reaction was for the government to step in to protect, reward, and promote the worst actors leading up to the crisis. Trillions of taxpayer dollars were used to prop up failed industry and corrupt individuals.
After the economy was stabilized, policy makers blocked investigations into the crimes that had led to the crisis.
There are many problems raised by these facts. Number one, a healthy capitalist democracy does not reward criminals. A basic tenet of American society is that we are all equal before the law. Allowing elite criminals to commit fraud with impunity undermines our democracy in a fundamental way. It also destabilizes our economy, and sets us up for ever-greater financial crises. Elites in America have been taught that they can commit fraud with impunity.