Saturday, November 19, 2011

William Black: Recurring Crises Derive From Epidemics of Fraud Stemming from C Suite

Majia paraphrasing his comments:

No convictions mean that the fraud will continue over and over, leading to more crises and more inequality
Wiped out 6 million jobs and 5 million that would have been created

11 trillion dollars lost in household sector

"We [government] promote incompetence if it helps the 1%"

"We can prosecute these fraud"

17 of the largest banks in America committed massive fraud and there exists a paper trail proving it.

FBI warned of fraud, they knew a crisis was coming stemming from epidemic of liars loans.

The crisis came from the very top of the largest banks in the world

"It is an orchard of 1%ers that are rotten to the core"

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