Face it, in these lean times the only talk that really matters relates to money.
On the subject of the old and busted U.S. Banking System, University of Missouri – Kansas City Law Professor William K. Black has recently been stepping up his game in terms of taking his insight and analysis to the public.
His money quotes have been showing up everywhere from The New York Times to the crackpot Alex Jones Prison Planet site.
Overall his message is simple and mostly notes that both Bush and Obama have failed to properly address lending institutions that nearly destroyed the world’s economy, but managed to solicit U.S. financial forgiveness because they were “too big to fail.”
Black’s Proposal for “Systemically Dangerous Institutions” comes in the form of a scathing blog post pointing out that there hasn’t much hope or proof of change from Bush policies under Obama. The missive is also accompanied with a step-by-step guide to reducing risk from free-wheeling big ass banks.
The latest coup for the former S&L regulator and current prof is a featured appearance in Michael Moore’s upcoming “Capitalism” documentary. Apparently, Black’s part in the flick pertains to Bush era choices to scale back white-collar crime investigations in the wake of Sept. 11. That despite full knowledge that corporate crooks pose just as much risk to U.S. finances as Osama & Pals present to national security. Ponzi schemers simply wear nicer clothes.
So, it’s nice to see Kansas City skepticism and fact checking taking center stage as the economy continues to circle around the crapper for the vast majority of folks, despite mostly misinformed tea parties and hopeless pie-in-the-sky promises for better days.
Sol Romano
And how much does Hearne/steve rose pay for your woefully underreported drivel?
hearne
About the same as for your woefully anonymous, but much appreciated insights!
jojo
Michael Moores movie will turn this country
upside down. We finally see the crooks who have
hijacked the nation. They are destroying the
financial system for their own greed.
Now they are taking over the life insurance
policy business by buying up elderly and
sick americans policies. they are buying the
policies for 50-60 cents on the dollar. Then
they pay for the premiums until the person dies.
They then package these policies and sell them
off at a huge profit to investors.
In other words…they are gambling when a human
dies. They are hoping the insured dies quickly
so they can collect the policies value upon
death. That’s why they are against the health
insurance reform. the wall street bankers who
hold these policies and sell them are using
taxpayer backed funds to gamble and hope that
americans die quickly.
Is this insane. And if the investments go bad
the u.s. taxpayer gets to bail out the banks
AGAIN.
What have we come to be?
butter
So where is the punchline? I guess it is on the taxpayers.
bschloz
William K. Black is very smart man.
Anybody who wants to understand the TARP fiasco should watch a couple of his videos online.
FDIC… 35 Billion insuring 6 Trillion in deposits…Good Times
Can you say “Reset”