UT NOTE: Bill Moyers Journal published on PBS in 2009. ~~> The financial industry brought the economy to its knees, but how did they get away with it? With the nation wondering how to hold the bankers accountable, Bill Moyers sits down with Bill Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailout. This show aired April 3, 2009. Bill Moyers Journal airs Fridays at 9 p.m. on PBS (check local listings). <~~ Same US Gov’t allowing / promoting fraud in finance as it does in the FDA, EPA, FBI, CIA, DOD, CDC, NIH, the FED, Congress, etc etc etc. Makes Catherine Austin Fitts story of the financial coup that began in earnest in the 90s come to life.
FRAUDULENT LOANS ARE PROFITABLE… FOR CROOKS
How bad is the current banking crisis?
Just one bank alone – IndyMac – generated as many fraudulent loans as the entire Savings and Loan scandal of the 1980s.
How did it happen?
The Bush administration completely shut off all banking regulation.
Fraud was everywhere – at the level of the loan broker, at the level of the loan packager, at the investment bank level.