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Free Market Failure: How Bank Deregulation Happened

submitted by dystopianfuturetoday

1 decade 3 years 10 months 3 weeks ago

Deregulation is a dirty word today. But who and what allowed it to happen? William K. Black, former senior regulator during the savings and loan crisis tells us what he thinks happened and why the bailout is flawed. Black has argued recently that Wall Street's crisis could not have happened if not for illegal fraud and that triple A ratings given to bad loans amount to a criminal cover up. Black is the author of The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry.

9 Comments

dystopianfuturetoday

*promote

Self promoting this video and sending it back into the queue for one more try; last queued Monday, January 3rd, 2011 6:27pm PST - promote requested by original submitter dystopianfuturetoday.

"Frontline: The Warning" covers some of the same material covered in the interview above - Greenspan, Rubin, Summers and Geithner during the Clinton years. It also profiles Brooksley Born and her concern about derivatives.

http://videosift.com/video/Frontline-The-Warning-Sneak-Peek-PBS

*quality

Boosting this quality contribution up in the Hot Listing - declared quality by Norsuelefantti.

The thumbnail image for this video has been updated - thumbnail added by vaporlock.

*promote

Promoting this video back to the front page; last published Monday, January 3rd, 2011 10:15pm PST - promote requested by enoch.

More of the same.

The philosophy guiding the financial system is akin to the belief that firing a few more bullets into a gunshot wound is a good way to stem the bleeding.

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