Fraud in Financial Crisis

November 30, 2008

by LukeAmerica2020
Recently, Yahoo! Finance interviewed William Black, a former regulator, who was counsel to the Federal Home Loan Bank Board during the S&L Crisis and blew the whistle on the “Keating Five” in 1989. He says investigations have shown fraud incidence of 50% at major subprime lenders like IndyMac and Countrywide. (read this entire post…)