On the subject of the old and busted U.S. Banking System, University of Missouri – Kansas City Law Professor William K. Black has recently been stepping up his game in terms of taking his insight and analysis to the public.
Overall his message is simple and mostly notes that both Bush and Obama have failed to properly address lending institutions that nearly destroyed the world’s economy, but managed to solicit U.S. financial forgiveness because they were “too big to fail.”
Black’s Proposal for “Systemically Dangerous Institutions” comes in the form of a scathing blog post pointing out that there hasn’t much hope or proof of change from Bush policies under Obama. The missive is also accompanied with a step-by-step guide to reducing risk from free-wheeling big ass banks.
The latest coup for the former S&L regulator and current prof is a featured appearance in Michael Moore’s upcoming “Capitalism” documentary. Apparently, Black’s part in the flick pertains to Bush era choices to scale back white-collar crime investigations in the wake of Sept. 11. That despite full knowledge that corporate crooks pose just as much risk to U.S. finances as Osama & Pals present to national security. Ponzi schemers simply wear nicer clothes.
So, it’s nice to see Kansas City skepticism and fact checking taking center stage as the economy continues to circle around the crapper for the vast majority of folks, despite mostly misinformed tea parties and hopeless pie-in-the-sky promises for better days.