Saturday, January 31, 2015
Uber economist Bill Black, has been a great critic of The Wall Street Journal and The New York Times's coverage of the Greek debt crisis, i.e., they've mentioning austerity very little, if at all. Bill, like Paul Craig Roberts, sees Greece as being victimized by the European Union, headed by Germany. At the end of WW2, more than half of Germany's debts were written off, not simply due to compassion for those suffering austerity, but also the fastest way to put people back to work and recover their economy. Ironically, it is Germany that is now resisting debt write-offs for Greece (as well as for Italy and Spain), thus damning their citizens to further austerity (while profiting the criminal banks that caused the problem). In this context, Bill mentions that "...what you have to remember is that most of the nations of Europe were occupied by Germany. And they do not have good memories of being occupied by Germany."
Will the SYRIZA Victory Spark a Broad Anti-Austerity Struggle in Europe?
Professor William Black says the mainstream media has failed to explain the ordinary Greek's experience of austerity policy - January 30, 2015
William K. Black, author of The Best Way to Rob a Bank is to Own One, teaches economics and law at the University of Missouri Kansas City (UMKC). He was the Executive Director of the Institute for Fraud Prevention from 2005-2007. He has taught previously at the LBJ School of Public Affairs at the University of Texas at Austin and at Santa Clara University, where he was also the distinguished scholar in residence for insurance law and a visiting scholar at the Markkula Center for Applied Ethics.
Black was litigation director of the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and general counsel of the Federal Home Loan Bank of San Francisco, and senior deputy chief counsel, Office of Thrift Supervision. He was deputy director of the National Commission on Financial Institution Reform, Recovery and Enforcement.
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. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae's former senior management.