Coast To Coast AM – 20.11.2011 – 1/4 – Financial Fraud/Disaster Preparation
MP3 www.4shared.com Guests: William K. Black, Matthew Stein Financial Fraud: In the first half of Sunday’s show, Associate Professor of Economics and Law, William Black, joined George Knapp for a discussion on how our economic crisis has been brought about by deliberate fraud on the part of banks involved in real estate loans. The household losses in this crisis are estimated at a staggering 11 trillion dollars, he reported (by comparison, the S & L crisis of the 1980s was contained at 0 billion, he noted). Accounting fraud was carried out by mortgage bankers and affiliates of banks that weren’t subject to governmental regulation. They issued what he called “liar’s loans” that were guaranteed to provide huge bonuses for executives, while setting up home owners to certain failure when the real estate bubble burst, he detailed. Many predatory mortgage brokers targeted poor people and minorities, inflating appraisals, and debt-to-income ratios in order to qualify them for the loans, he continued. By 2006, there were over two million cases of this type of fraud a year, and banks were selling their problematic loans to Wall St. under false pretenses, said Black, who added that we could be looking at an even more intensified financial crisis down the road because the way government has responded to the crisis (such as the bank bailout) has made matters worse. For more, see Black’s paper: The Virgin Crisis: Systematically Ignoring Fraud as a Systemic Risk. Disaster …
Video Rating: 4 / 5
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God I miss Art Bell……..and everything else about the 1990’s.
@SovereignBeing-Part of the US propaganda is they make out Iran is a threat to the world when in fact Iran has not threatened anyone at anytime — It is Israel that is the threat to that region, not Iran. They also blame China for a lot of the financial crisis when in fact is was and is the US greed that has got themselves (and other countries) into this mess.
I’d be more wary of the US and their ‘ulterior motives’ than China any day of the year and I’d want the US out of Oz and to stay out!
@Saywhatyoumust – yes i live in australia,.. i dont know what propaganda they are talking about there. probably the same as here, with hushed, short reports of china not being too impressed with the additional military presence in Darwin..
@SovereignBeing- p.s i never said anything about usa – In that case you I’d guess you’re from Down Under? But I do have to say that China are not looking to fight anyone and it’s nothing but US propoganda that makes out that they are.
@Saywhatyoumust its all just prep for the orchestrated WW3..Chinese troops are already there waiting to OCCUPY….
p.s i never said anything about usa
@SovereignBeing-But do the Aussie’s and Kiwi’s know and understand they they are surely but slowly becoming part of Asia? Seems they too are asleep at the wheel!
I think the close ties to Asia may not be so close in the near future and fyi China did NOT crush the manufacturing here – it was Bush that made that happen NOT China. Give blame where it is deserved and that’s NOT China, it’s here. The US was looking to exploit and it failed and rightly so!
@artyfarty3 = I agree with you.
@Saywhatyoumust yeah, well thats been in the making for a while – and we have always had close ties to china and japan – with immigration and trade.. free trade options mean they wont have to pay for it and yet more toxic crap from china will be flooding in. they have already crushed most manufacturers here.. this country is fast going down the pan, much like everywhere else, it seems.. it’s tragic to witness..
@Saywhatyoumust The whole thing is just another “super” example in inefficiency , stupidity , diversion , waste of time and public money
lol ! 
not only is it unlawful and unconstitutional but “SUPER” GAY too 
LOL 
@SovereignBeing- Well it seems AUS (and NZ) are now part of Asia with the Asian Pacific deal Obama and Gillard have done – I mean since when is Down Under part of Asia? – Also sounds like you are going to get your own version of The American Union = The Asian /AUS Union, where countries join and become one.
Google The American Union and you will see what I mean,
@rounsif-You’re listening to too much US propaganda. Just a FYI, compared to European goods, the US products is on the same level as China – junk! This is NOT china’s fault as they are not the ones who outsourced all the US jobs-Bush did! China is just doing what they can to try to get a better life and to be a productive country etc., and any other country would do the same thing. When Bush gave them all the US jobs, what were they supposed to say?
@artyfarty3-I’m still trying to figure out what makes them so “super.” What a joke and Only in America! Nowhere else in the Universe would you find such a ridiculous name as the “Super” Congress! It would be quite amusing if it were not so pathetic! What a charade, but America is good at ‘make believe’ so I guess this is where the name might derive from.
HAPPY THANKSGIVING to everyone!!!
a whole lot of “finger pointing” lol
“super congress” are blaming each other ( but not themselves ) , Obama is blaming republicans , republicans are blaming … Pakistan ( wtf ?! ) ?! LOL !!! – who didn’t see that one coming ?! LOL ! 
… and all this time their wallets are getting fatter and FATTER !!! lol
… and all they ever do is talk & talk & talk … a whole lot of hot air is all that we ever get out of their lying , ugly mouth – no responsibility , just lies.
Remember, we are all one.
We need will black investigating wall street
The sick Rothschilds and the sick Rockerfellas and the Zionists are still running the show !!!
@rounsif NZ are importing chinese vegetables and relabelling it as NZ and then selling the toxic waste to us here in OZ.. friggin underhand behaviour..!
yes———–SAVE THANKSGIVING! horrible they way we are bombarded—-I will not spend 1 dime on imported Chineese junk. Our family has made a pact.SAVE OUR MONEY for important things.
OUTSTANDING program, excellant interview guest. The government’s stoic unwillingness to confront the disproportionate inequality & immense political influence of the parasitical finance industry which has singlehandedly betrayed civil society as its never been exploited before is a large reason why and how public outrage has resulted in the mass-demonstration movement of the Occupy Wall Street protests. ONLY a self-interested naive bufoon can’t understand this or connect the dots.
@TheStarfkr — People like you take the cake — and I don’t mean this in a good way. One of THE most important, timely, LEAST Alex-Jones-conspiratoid-like, critical topics C2C has covered, and you whine complain bitch -and- moan because you’re too childlike self-indulgent weakminded simple to appreciate let alone understand this has enormous relevance for EVERYBODY in the US because this corporate mortgage-industry fraud is at-root the cause of global economic meltdown. Bugger-oFF already.
Great topic. Thank you!
Great interview. Thanks.
boring, enough of this shit on C2C.
What a wonderfully boring topic. If I want to listed to Alex Jones material I will visit his site. C2C is starting to suck.