Oh boy. If you have high blood pressure, you may want to avoid listening to this new podcast...
Bill Black, expert on Wall Street control fraud, returns to discuss the gross abuses of power rampant in our financial, political and judicial systems. In his estimation, regulation and enforcement of financial crimes have been completely gutted and de-fanged -- intentionally by corrupt politicians, and unintentionally by inept ones. All while the Justice Department turns a blind eye.
Click the play button below to listen to Chris' interview with Bill Black (58m:19s)
Isn't interesting how a few simple decisions can change the course of events?
Appoint one guy, and tell him to put heads on spikes, and things get cleaned up.
Appoint another guy, tell him to "be careful" - which goes right along with his nature - and none of the fraud gets prosecuted, even when whistleblowers appear who were there on the scene that come in with a smoking gun.
A small, extremely powerful group really could make sure that none of the bankers went to jail. Without much difficulty, apparently.
And its fascinating how 9/11 cleared the decks for all the fraud to take place just a few years later, because all the top white collar crime investigators were pulled right off the field.
The 3rd time that Bill Black speaks, he's says something transcribed as
So his unwillingly to prosecute user limited the banking
I hate to criticize, but, as a paying customer of this site, I'd like to have that transcribed better. I understand that oral communication is less "grammatical" than written communication, but I think I'm on safe ground to think the error here is in the transcription, not in the expert's English.
All debit cards are terminate hold, unlike that of at teller at the bank. This is the bankers rope they will hang them self with it! Debit dose not turn over like the dollar many times.