Video of lecture on the finacial crisis

[Igosplut]

video (http://informationclearinghouse.info/article23243.htm) of Dr William K Black, the man who ran the Savings and loan bailout fix in the 80s talks about what went wrong in today's economy.

I'm interested to hear what people have to say about this after watching it...

[Igosplut]

Not even a peep, Huh??

Oh well...

[standin]

I am not familiar with the site and I didn't get around to whois-ing the site. I glanced in the thread and said I would do it later. Then forgot about it.

[standin]

Definite site for cutting edge news Legacy Review
Informationclearinghouse.info is the best site around for cutting edge news and comment, in my opinion. I am a web manager and have been reviewing and using alternative news sites for 8 years. I haven't found another site that combines a willingness to link to controversial news items with a commitment to truth and accuracy. It truly is "News you won't find on CNN." This site deserves its huge audience and the high regard that it receives for its timely and important content. In addition to breaking news, it provides vital resources that tend to be forgotten. Information Clearing House reminds us that these materials are still around and as important today as when they were first published.

05-Feb-2003
Online Since

[standin]

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[standin]

That is a lot of information to process. And advanced fraud situations also.

I listened to it while I made dinner. BTW, which is cream peas, tomatoes, green beans, basil and quail soup with corn bread. All fresh produce including the peas.

Are there any specific questions or points you might be in wonder about? Feel free to ask any question you like, and I will answer to the best of my ability. A lot of it is basic fraud prevention information applied to the subject at hand.

I am going to listen to it again and write a reaction paper as points of interest come up. I examined my first fraud case at the tender age of 17, but this guy is really proficient. I can only expound on his discussion.

Let's hope I stay awake. I am getting pretty sleepy. If not I'll finish it tomorrow.

[ELVIS]

I watched it...

he seems spot on...


:elvis:

[standin]

8/19/2009

expecting health care to be provided by business
Eon Masters stated
“They avoid the punishment of capitalism while enjoying the rewards of socialism.”

When speaking of the bailouts and banks. I do think banks and big business had become a socialist state while the average business is shackled to a over burdened capitalistic expatiation, due to the burden of expecting health care to be provided by business.


Dr William K Black
If you put the same expiations and regulations with enforcement and penalization on loans as other vices, you would see a significant healthier economy.

Due diligence should not be expected it should be law, enforceable law with high penalization if not done. The same way alcohol providers are fined, held accountable, and checked upon concerning their due diligence of alcohol sales.

Anything other than established monies should be looked upon as a vice and treated as such. Usury at any level from needs to be viewed as a moral atrocity. With the kind of numbers that pass through the economy, there is no need for usury interest rates other than as predator tool.

If you put the same expiations and regulations with enforcement and penalization on loans as other vices, you would see a significant healthier economy.

the fraud triangle; rationalization, opportunity, and motive

Control fraud is a treasonable offence toward the corporate character and a crime against civilization when reflected against the public interest.

It cannot be stated enough the fraud triangle; rationalization, opportunity, and motive. Break one of the corners and you have put a significant reduction in the likely hood of fraud happening.

Fraud will always exist. It is our obligation as humanity to keep it under check.

the Jackson mentality

I call it the Jackson mentality, “I have been marauder-ed zed therefore I will predator. With one addition, the mentality of “It just business” That simply because it is business devoid the entity of ethics. There will always be people devoid of ethics, there will people that will rape when they can rape; there will be people that will neglect when can neglect; cheat when they can cheat. The same is true for corporations. Corporations need to be held accountable on the same level as a person. The view that they are not a person needs to be thrown to the wayside.

The corporations are the board and the shareholders. These are the people that should be fined and jailed when a corporation is fraudulent, any corporation including non-profit.

It is our obligations to police corporations.

corruption on city, county, and state level.

My experience is mainly in corruption on city, county, and state level. One of the things that are a challenge is you have to work with what is there. You cannot spit out personal. Sure, you would like to go in and fire all involved, but what you do is you remove one of the corners of the fraud triangle. The biggest deterrent of fraud is not jail time but the being caught. Cleaning house is often washing good people of the smut. Moreover, once clean they are glad to be clean, that does not mean they are able not to fall to the same weakness, which is why removing one of the corners of the triangle for prevention

One of the biggest weaknesses is the expiations of people like Buffett and Greenspan to be infallible. They are and can be not only seduced but also tricked and misled for years and decades, the same as any other family. We still cannot spit out Greenspans or Buffetts, but it is out obligations to protect these folks from their own human behavior.

One of the things I learned was the significant amount of fraud present prior to the great depression. What really must be pointed out, at this time is what we do not know.

A corporation should be expected to run at the lowest common dominator

At one point in time, we did not know hand washing was so important in sanitation, we know now. And the same as any other living part of us, we learn what it is that makes it healthy or unhealthy. Does that mean without rules that McDonalds will make healthy food and have prper sanitation? No, McDonalds will not. A corporation should be expected to run at the lowest common dominator of ethics of the people that make the corporation. That is a scary thought but true. Nevertheless, McDonalds feeds the masses. Therefore, corporations feed the masses. We are the masses; we are obligated to govern ourselves.

silliness concerning a conspiracy

Another good point that Dr. Black pointed out was the silliness concerning a conspiracy running the world. Yes, this is true, like he said, but it is not in a back room, it is nothing more than a mentality. A mentality that must be addressed, a mentality that cleanliness is unnatural.
It is difficult to tell persons that they are unclean, but you do. What is especially so important is telling a food service worker about cleanliness. It is just as important for our corporate handler’s workers to practice cleanliness. Alternatively, you, humanity, and I will get sick. Do not wish “long live typhoid Mary” Make yourself clean and look after those who you can.

[ZahZoo]

Interesting video... I just wonder how the hell do we fix this if the fox not only is guarding the hen house, but owns it and regulates it.

Would love to hear Obama respond to this...

[mwsully]

What the video discussion proves beyond doubt is that letters/emails/calls of protest--even voting-- do little to nothing to change our financial system and the people that run it. In fact, those ineffective methods have become tools to placate most citizens.

I wonder when the majority of American citizens will have had enough and use "other means" to force those changes.