Mortgage Fraud & Political Enabling

Here is an excellent hour long audio interview with William Black, a fraud expert.

At 39 minutes into the interview, William Black talks about Bush appointee James "Chainsaw" Gilleran who headed the Office of Thrift Supervision and who did a big photo op with him and other regulators taking a chain saw and pruning shears ready to go chop up "regulations" as part of the Bush deregulation of financial regulations.

At 40:45 into the interview, the interviewer asks Black if he is "a Democrat" implying that if you are a Democrat you are politically motivated in how you understand the financial crisis underlying the 2008 Great Recession. But as William Black points out, the fraud underlying this housing crisis was supported by both parties and he notes how "the Rubin wing of the Clinton administration" enabled this crime. It is a crime that both US political parties supported. It is a crime that has led to 10 million unemployed and 10 million under-employed. And worst of all: nothing has been done to stop the fraud. The fraudsters got to keep their "bonuses" and they are still running the same corporations.

At 54 minutes in, he points out that Obama has continued the corruption by appointing the same "wrecking crew" regulators under his administration which simply makes the more financial crisis likely to occur sooner and be bigger.

This is a must do: listen to this interview...