Prosecute scandal bankers

As part of my irregular series of columns investigating the state of the modern economy, I’d like to introduce you to one William K. Black. Black has a background in financial regulation. In the 1980s he was a regulator for the Savings & Loans Industry in the United States. “Savings and Loan” is the American name for what we call Building Societies. He was responsible for convicting several hundred bankers for fraud. He developed the concept of “control fraud”, which he describes as follows: “Control fraud is what happens when the people who control… a seemingly legitimate entity, use it … Continue reading Prosecute scandal bankers