William K. Black, who exposed savings & loans corruption, joins Sanders campaign

[FreakinDJ]

?1460276055

William K. Black: "The best way to rob a bank is to own one."




An expert in banking corruption and finance has joined the Bernie Sanders campaign. William K. Black, an associate professor at the University of Missouri-KC, is Bernie Sanders’ new economic advisor. Black was one of the central figures in exposing and prosecuting corruption in the savings and loan crisis from the late 1980s and mid-1990s.


Bill Black was a key figure in exposing corruption by members of Congress, called the Keating Five, after Sen. Charles Keating (Note from diarist: Not a Senator, Keating was Chairman of Lincoln Savings & Loan), who Black accused of doing favors for the savings and loans in exchange for contributions. Arizona Sen. John McCain was one of the Keating Five. He, along with the rest of the senators, was reprimanded but otherwise unpunished.

http://www.dailykos.com/story/2016/4/10/1513356/-William-K-Black-who-exposed-savings-loans-corruption-joins-Sanders-campaign

[DanTex]

1. He's been shilling for Bernie for a while now, might as well make it official.

[FreakinDJ]

2. He trashed Krugman pretty well too

Krugman and the Gang of Four Need to Apologize for Smearing Gerald Friedman


Second, Friedman’s study is utterly conventional in terms of the macro models that Krugman has been praising for years in his column. The results he calculates, that Krugman dismisses as “fantasy” and “voodoo” are in fact the normal product of the normal models Krugman and the Gang of Four rely on. Friedman, Jamie, and I all have many doubts about those models, but not Krugman and the Gang of Four. Why does the standard model generate such powerful results for employment and growth? It does so because Bernie’s plan to spur the economy is far larger than current policies or anything program to spur the economy supported by Hillary. As Jamie phrases it:



http://www.huffingtonpost.com/william-k-black/krugman-and-the-gang-of-4_b_9286520.html

[krawhitham]

5. shilling?

[Octafish]

13. Black reported Hillary at State kept vacant the Inspector General post.

No watchdog means no barking when the stuff falls off the truck, if you know what I mean.

http://www.democraticunderground.com/12511413818

[mmonk]

3. Excellent.

[kgnu_fan]

4. yay!

[FlatBaroque]

6. THIS is what I'm talkin' about!!!

People who will, when necessary, kick the bankers in their goldman nut sacks.

[Skwmom]

7. But we didn't learn and ended up with the bogus to big to fail bailout.

Last edited Sun Apr 10, 2016, 02:02 PM - Edit history (1)

[FreakinDJ]

9. I posted a thread for you

I too have always wonder why anyone would further deregulate the Banking Industry on the heels of the S&L Crisis

http://www.democraticunderground.com/12511697469

[Cheese Sandwich]

8. that's great news!

[colsohlibgal]

10. This Guy Is Awesome

Love the quote about the best way to rob a bank...so very true.

The system is rigged. Bernie is infinitely more likely to try to do something about that than Hillary.

That said it would be tough to get much done till progressives start paying more attention to state and local elections.

[BernieforPres2016]

11. I have been reading columns by Bill Black for a long time

Bernie could not have picked somebody better. He would be the perfect person to spearhead breaking up big banks in a Sanders administration.

[Jim Lane]

12. But the eagle-eyed Clinton supporters see through the pretense and realize this is nefarious.

This thread in the Clinton group is comedy gold. I report it as a public service for those of you, including the 800+ blockees, who've trashed the group.

The OP starts the ball rolling with "Whats {sic} is he up to now ?????" Another member answers: "Probably just another spurious atempt to smear Hillary!"

To recap: Sanders hires someone with demonstrated expertise in matters concerning large financial institutions, in particular their overly cozy relationships with some public officials. The Clinton supporters immediately conclude that this can only be yet another anti-Hillary plot.