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Business news without the bullshit
Why we crashed - and why we will crash further
And how it could have been prevented
, comprehensive program
, Congressional hearing
, Federal Reserve Bank
, Lehman Brothers
, liars loans
, regulatory failure
, The Fed
, William Black
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The Lehman Brothers fraud factory
William Black helped put out the Savings & Loan fire before it burned down the financial system.
In this testimony before Congress, Black sheds light how the Fed dropped the ball, how it offered bogus excuses for its failure to act and how Lehman Brothers and others ran massive loan fraud operations in broad daylight with no regulatory or law enforcement consequences.
Note the impatience of the Congressional dickhead at hearing the truth.
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