William K Black investigated the Savings and Loans scandal in the 1980s and accused senators of committing fraud. Now he’s back and investigating the fraud that has happened against the American people over the past 10 years.
Watch Bill Moyers’ interview with William K Black
Here is the transcript of the interview:
April 3, 2009
BILL MOYERS: Welcome [...]
Faisal Islam from Channel 4 news recently interviewed Jim Rogers about the recession. Check it out at the link below.
Interview with Jim Rogers about the recession
It seems that panic is setting in at the top and that the central bank is desperate for us to start buying houses and things we don’t need at inflated prices with money we don’t have.
Savings are being eroded away and people that have borrowed too much are being let off the hook, for now. [...]
So Alan Greenspan admits he’s made some mistakes over the past years. Greenspan - I was wrong about the economy. Sort of.
Congressman Henry Waxman “My question is simple. Were you wrong?”
Greenspan “Partially … I made a mistake in presuming that the self-interest of organisations, specifically banks, is such that they were best capable of protecting [...]
The government of the UK has always denied that the UK suffers from the same problem of sub-prime mortgages and so called NINJA loans (no income, no job, no assets). Although several investigations have shown that there might be a lot more sub-prime mortgages about than many people realise. As the number of repossessions increase [...]
300,000 UK savers face a struggle to recover their savings from IceSave according to the Times.
Confirmation of the collapse came from Iceland’s Banking Minister today, as the Icesave bank, controlled by Landsbanki, said that British savers with the bank would not be able to withdraw their money.
British savers may now face a difficult struggle to [...]
How long before the generation dubbed the Baby Boomers will be renamed the Baby Busters?
For crashing the economy yet again, putting their parents hard work to waste and leaving their children with mountains of debt, a more damaged environment and a less safe planet overall?
As expected the news today is all about the collapse of Lehman Brothers, the Bank of America buying Merrill Lynch and the problems facing AIG. There’s one article I want to point out that highlights what I think is the key issue.
The Bank of England and the European Central Bank (ECB) today acted to stop [...]
The news today has been that XL, the UK’s third largest flight and holiday operator has gone out of business. This is part of a wider trend in the industry. I heard on the news that worldwide 30 flight operators have gone out of business in the past year, with more to come in the [...]
This is a short video by Don Harrold explaining why he thinks Fannie Mae and Freddie Mac were taken into conservertorship (A new word the US government came up with. Does it mean nationalised? It’s not a word according to spellcheck). To be fair the US government is stuck between a rock and hard place [...]