Black Financial and Fraud Report Bill Black
by TRNN
Obama susceptible to attack by Romney because he failed to deal with systemic risk to financial system - even though Romney would be worse
Watch full multipart The Black Financial and Fraud Report
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.
