Saturday, March 20, 2010
TO ROB A COUNTRY, OWN A BANK
To rob a country, own a bank
William Black, author of "Best way to rob a bank is to own one" talks about deliberate fraud on Wall Street, Parts 1 through 5.
William K. Black, associate professor of economics and law at the University of Missouri, Kansas City, teaches White-Collar Crime, Public Finance, Antitrust, Law & Economics. A former financial regulator, he held several senior regulatory positions during the S&L debacle. Black is the author of The Best Way to Rob a Bank Is to Own One (2005) which focuses on the role of “control fraud” in financial crises. Black developed the concept of "control fraud" — frauds in which the CEO or head of state uses the entity as a "weapon." Control frauds cause greater financial losses than all other forms of property crime combined.