Must View Video | Bill Black: Jobs Now, Stop the Foreclosures, Jail the Banksters

Be sure to watch in its entirety!

William Kurt Black (born 6 September 1951) is an American lawyer, academic, author, and a former bank regulator. Black’s expertise is in white-collar crime, public finance, regulation, and other topics in law and economics. He developed the concept of “control fraud“, in which a business or national executive uses the entity he or she controls as a “weapon” to commit fraud.

Black earned a J.D. from the University of Michigan Law School and a Ph.D. from the University of California, Irvine. Black is currently an Associate Professor of Economics and Law at the University of Missouri-Kansas City in the Department of Economics and the School of Law. He was the Executive Director of the Institute for Fraud Prevention from 2005-2007 and previously taught at the LBJ School of Public Affairs at the University of Texas, and at Santa Clara University.

Black was litigation director for the Federal Home Loan Bank Board (FHLBB) from 1984 to 1986, deputy director of the Federal Savings and Loan Insurance Corporation (FSLIC) in 1987, and Senior VP and the General Counsel of the Federal Home Loan Bank of San Francisco from 1987 to 1989, which regulated some of the largest thrift banks in the U.S.

Black was a central figure in exposing Congressional corruption during the Savings and Loan Crisis. He took the notes during the Keating Five meeting that were later published in the press, and brought the event to national attention and a congressional investigation.

According to Bill Moyers,

“The former Director of the Institute for Fraud Prevention now teaches Economics and Law at the University of Missouri, Kansas City. During the savings and loan crisis, it was Black who accused then-house speaker Jim Wright and five US Senators, including John Glenn and John McCain, of doing favors for the S&L’s in exchange for contributions and other perks. The senators got off with a slap on the wrist, but so enraged was one of those bankers, Charles Keating — after whom the senate’s so-called “Keating Five” were named — he sent a memo that read, in part, ‘get Black — kill him dead.’ Metaphorically, of course. Of course.”

Black is the author of, among others, The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry, 2005, University of Texas Press, ISBN 0292721390.

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4closureFraud.org

Comments
15 Responses to “Must View Video | Bill Black: Jobs Now, Stop the Foreclosures, Jail the Banksters”
  1. Elyse says:

    I am at the Unlawful Detainer end of my litigation which began Feb. 2010. I was 6 days late filing my 4th Amended Complaint so the banks attorney’s jumped all over it filing a Motin For Dismissal…the Judge granted it!! With prejiduce!!!! Unbelievable!!

    Is it possible to ask if more people are in the same boat here?
    Perhaps we could all share the lenders names…the servicers…the foreclosure mill….and what State???

    Just those three shares would be very helpful to discuss certain issues…we are all going through many of the same proceses and I for one am about at the end of my options and pretty nerveous that being right doesn’t get you a Jury Trial!!

    I’ll be first:

    My State is California
    My Servicer is ASC (not named in my complaint)
    Foreclosure Mill is Cal-Western Reconveyance
    Defendant’s named in my suit:
    * MERS
    * Cal Western Reconveyance
    * Wells Fargo Home Mortgage
    * US Bank National Association As trustee For Credit Suisse First Boston 2005-2010

    If anyone would like to connect, please email me elyse@gte.net

    Thanks for reading:-)

  2. talktotennessee says:

    He is right about foreclosures leading to another recession. Reducing principal is the only answer to stabilize the housing market. Shifting houses into REO inventory is a huge mistake and not well thought through. Hard to understand why Washington can’t see that foreclosures have already done massive devaluation damage. What makes everyone think that dumping more on the market will help? He is also on target with the blacklist for appraisers. Appraisers who did not ‘hit the numbers’ that were needed to make the loan just lost the mortgage broker or banks’s appraisal business. In some cases, lenders had in-house appraisers who also were required to ‘make’ numbers work. If the appraisal came back less than what it would take to make the loan, appraisers were berated, blacklisted or threatened. I guess some were paid off. I heard of one who lost her license because she schemed with a local bank to ‘sell’ appraisals. I could not in good conscience do what was required abd as a result lost business. No one wanted honest appraisals, not even those doing tax appeals or estate work:)

    • lies is all they tell says:

      @ tennessee, in march/2006 i closed on my home appraised at 270, bought for 260k prices were rising out of control and we actually thought we were lucky getting our home. the appraisal was so stinking i cant breath. the appraiser used comps that in regular times or with a non paid off appraiser would never have been used. one comp was a home 6 months prior????? there were sales daily why use a home sold 6 months ago. for a 280k price tag. a flipped house. the next home was on the market for 51days for 225k sold for 245k a 20k payoff. it goes on an don like that. (getting to my point) i met a family who boughta home 4/2006 the same area different realestate company mortgage company.
      homes comparable mine 2000sqft, there house 2200sqft. both 1/2 acres her house 224k mine 260k 1 month apart. even with her lower mortgage her husband lost his job as a manager with outback and she is a server at a pizza joint. so the last i heard they were trying to get a mod. sucks to know what i know.

  3. Fury says:

    professor black is a good guy. he appeared on dylan’s show when lisa e was on and said her matrix was right.

    more trickery by the NYPD, just like the arrests on the brooklyn bridge…

    this was from the OWS ant-frauddclosure march from liberty square to foley square where the supreme court is located.

    http://cityroom.blogs.nytimes.com/2011/11/05/police-force-wall-street-protesters-off-sidewalks/?hp

    • lvent says:

      Yes Fury, there is alot of trickery going on in America…and NO ONE is going to make me believe the COMMIE CRAP….that people cant possibly afford their homes so they should rent their homes…or refi or loan mod blah blah blah……….The U.S. Government IS HIDING BEHIND THE GSE’S AND THE SERVICERS, THE JUDGES AND THE ATTORNEYS…. AND THEY ARE WHO IS FRAUDCLOSING.THE U.S. TREASURY DEPT IS WHO ARE PUSHING THESE FRAUDCLOSURES THROUGH….!!!..THE U.S. GOVERNMENT needs to WALK AWAY FROM FRAUDCLOSING AND GIVE BACK THE STOLEN HOMES TO THE AMERICAN PEOPLE or they are going to cause a bloody revolution in this country..the likes of what have not been seen since the last BLOODY Revolution…TH PROPERTY TAXES AND THE HOME MAINTENANCE BILLS ARE TOO MUCH..LET ALONE ANOTHER FRAUDULENTLY INDUCED MORTGAGE PAYMENT…MAKE THE POLITICIANS WHO ALLOWED THIS PONZI SCHEME TO PAY AND ALL OF THEIR CRIMINAL FRIENDS ON WALL STREET PAY…NOT THE 99%

      • lvent says:

        Fury, PHH Mortgage, told me that I was denied a loan mod at the last minute by the U.S. TREASURY..The Judge for my fraudclosure asked me my loan mod story in court…when I told him the servicer told me the U.S. TREASURY denied me the loan mod.. his eyes popped out of his head…..and he told me to hire an attorney and try and do a mediation with the pretender lender…My thoughts leaving the courtroom that day were, I will not negotiate with those terrorists ever again…!

      • Fury says:

        yep. you can’t mod a fraud.

        i pray that all evictions, all foreclosures, all this torture STOPS. tomorrow!

        judge lipmann can do it for NY.

        everyone one who has the power to stop this economic genocide needs to STOP IT immediately!

      • lvent says:

        Fury, have you watched the video that I posted under the Breaking the Law, Breaking the Law post entitled Who Killed John O’Neill?..When the American people find this stuff out that is in this video Occupy is going to have the whole 99% joining them…

  4. Ron Moss says:

    Frad is a crime Preditory lending is a crime. Lying on my application is a crime MortgageIT was owned by GMAC. Its CEO is a criminal. If he decisdes to spend the rest of his days in Jail, SO BE IT.

    • lies is all they tell says:

      @ RON MOSS WHO IS YOU R BANK /AKA PRETENDER LENDER?? did they lie on your application too? mine also . didnt find it till i was alreadyin this mess and they were causung modification fraud. i googled modification fraud and losing paper work by wells fargo. terrible stuff. yet it still goes on. we were distance buyers so i have a 2006 email that i sent her my (the wells fargo mortgage broker) my paycheck. it was wells fargos job to verify these payceck stubs. my appraisal to was riddled with fraud. where was underwriting in 2006 there so many unscrupulous peopel who wanted to make a buck.

      to day i sent this to the obama petition

      http://act.credoaction.com/campaign/obama_ws/?r_by=29969-4112767-JzUhPCx&rc=mailto1

      IMAGINE IN 2007 OUR CREDIT SCORE WAS 789 ALL MY BILLS PAID ON TIME FASTFOWARD TO 2011. THERE ARE NO JOBS IN FLORIDA SO MY HUSBAND IS UNEMPLOYED SINCE JUNE. OUR 2 INCOME FAMILY DOWN TO 1 1/4. THE BILLS DO NOT JUST GO AWAY IF YOU LOSE A JOB. WELLS FARGO WHOM I HAVE BEEN FIGHTING WITH SINCE 2009 FOR A MODIFICATION LOSES MY PAPER WORK FOR THEREFORE DELAYING MY MOD APPROVAL ADDING 10K TO MY ALREADY UPSIDE DOWN LOAN, THEN CHARGE ME MORE THEN THE ORIGINAL MORTGAGE?? WHEN WE ENTERTAINED ANOTHER JOB LOSS I ASKED FOR ANOTHER MODIFICATION THIS TIME A HAMP MOD. WELLS FARGO TOLD ME A HOMEOWNER CURRENT OM HER MORTGAGE WHOM HAD TO BORROW 2K FROM MY FATHER N LAW 8/2010 TO PAY MY MORTGAGE THAT TO APPLY FOR A HAMP LOAN I HAD TO BE IN EMINENT DEFAULT. I ASKED FOR THIS IN WRITING WELLS FARGO REF– USED. AND WHAT THEY HAVE LIED TO THE OCC , AG’S AND CONGRESS STATING THEY NEVER TOLD ANYONE THAT WELL MR PRESIDENT AND ASSOCIATES THAT ARE READING THIS YES THEY HAVE. THEY ALSO DID REVERSE UNDER WRITING WHICH ENTAILED TAKING ADVANTAGE OF OUT OF TOWN BUYERS AND EXAGGERATING OUR MONTHLY INCOME. IF YOU VERIFIED MY 2006 MONTHLY INCOME AT MY HOSPITAL , I AM AN RN THE MORTGAGE BROKER ROUGHLY ADDED 700 DOLLARS. ENOUGH TO APPROVE ME AND JUST ENOUGH AFTER MY MOVE TO AN AREA OF FLORIDA 300 MILES NORTH AND A LOWER SALARY TO FEEL THE PAIN. AND MY HUSBAND UNEMPLOYED THEY WOULD NOT ADD TO THE NOTE BECA– USE IT WOULD REDUCE MY CHANCES OF APPROVAL ( I THINK IT WAS ABOUT THE RATING OF MY LOAN) . I WILL NOT FORGET ABOUT THE APPRAISAL FRAUD. YES VERY RAMPANT. STRAW BUYERS , FLIPPED HOMES. IF THOSE ANOMALIES ARE LEFT OUT THE PROPERTY VALUE OF MY HOME WOULD HAVE BEEN LOWER. BUT TO JACK UP PROPERTY VALUES APPRAISERS WERE USING ANOMALIES HOMES SELLING IN 51 DAYS ON THE MARKET AT 225K FOR 245 (A 20K PAYOUT AT CLOSING) AND ANOTHER HOME SOLD 6 MONTHS PRIOR FOR 280 WAS 230 A 50K PAYOUT IN 6 MONTHS YET ANY HO– USE WITH IN 1-6 MONTHS COULD HAVE BEEN — USED WHY — USE A HOME THAT SOLD 6 MONTHS AGO? THIS SIR/MR PRESIDENT IS WHAT WE ARE DEALING WITH. BLATANT FRAUD.
      SHOULD WE LOSE OUR HOME BECA– USE OF THIS ??? WORKING ALL OUR LIVES. FOR ME IT HAS BEEN 12 HOUR SHIFTS ON MY FEET. PLEASE WE NEED A FORECLOSURE MORATORIUM AND THEN A PRINCIPLE CORRECTION 20% BELOW PROPERTY VALUE SO PEOPLE AGAIN CAN SELL THEIR HOMES. MOVE TO AN AREA WHERE THERE IS JOBS AND BUY A NEW HOME. MAKE THIS PAST 5 YEARS GO AWAY. YOU HAVE THE POWER TO DO THIS. AND ONLY YOU. DO NOT THE LIKES OF WELLS FARGO GET AWAY WITH WHAT THEY HAVE DONE. PLEASE DO NOT FORGET THE CREDIT SCORES THAT HAVE BEEN RUINED BECA– USE OF THIS? I KEPT MY CREDIT SCORE PERFECT FOR ONE REASON SIR THAT IF I NEEDED A CAR I COULD WALK OFF THE LOT, NOW MY CAR DIED. HOW DO WE GET TO WORK BECA– USE THIS HAS HIT MY CREDIT SCORE HARD???????? PLEASE HELP THE PEOPLE PLEASE

      we need to get our word, our stories out there. lets not hide the fraud spill the beans. i got a call from wells fargo office of the president ray? states wells fargo is looking into the fraud. ok and where does this help me we need help now.. stop all foreclosures now

  5. I vent….Are you sure Mr. Black said that? I am tired but I listened to the video…and than I saw your comment….I thought when he was talking about renters..He mentioned a name or some program…it was for those whose homes were underwater and could not still make the payments..after a prinicpal write down…thru this program he mentioned or the name he mentioned…the homeowners could stay in the home but rent it..(..like maybe some homeowners would rather stay in that home instead of moving at that time..)..maybe I was half sleeping and got it all wrong…the rental part would sound like he was speaking for the NWO…but maybe he was speaking for people who felt they could not aford to fight to keep the house..but would rent it and not have to move. Does what I am saying make sense or am I way off hte beaten track ? .Maybe I need a coffee to wake up………………………..

    • lvent says:

      Oh yeah Marilyn, he said it…he said it will be impossible for some people to keep paying so they can convert from ownership to a rental…It all starts at about 8:25. He is talking something about how some people paid way too much for their homes but this sneaky because that applies to every single one of us right now…They hyper-inflated the values of everyones home…These bastards are getting sneakier and sneakier…they gain your trust and then they try and hoodwink you…Why I would wager a bet Mr Black is a graduate of one of those prestigous Jesuit universities…They are not as smart as they think…just a bunch of really sneaky liars…

  6. GET YOUR MONEY OUT OF THE BANKS TOMORROW, and also go to http://www.getmoneyout.com/

  7. lies is all they tell says:

    PLEASE GET YOUR MONEY OUT OF THE BANKS TOMORROW. BY DOING THIS YOU HELP SO MANY PEOPLE STAY IN THEIR HOMES. DO NOT ALLOW ANOTHER FAMILY TO GO HOMELESS BECA– USE O F THE FRAUD THE BIG BANKS HAVE PERPETRATED. WHY SHOULD I LOSE MY HOME BECA– USE WELLS FARGO TOLD ME NOT TO PAY???? AND THEN DENIED ME A MORTGAGE MODIFICATION AND LOST MY PAPER WORK. IF THIS HAS HAPPENED TO YOU PLEASE SUPPORT THE THE “GET OUT OF THE BANKS ” MOVEMENT AND POST THIS MOVEMENT ON YOUR FACE BOOK, TWITTER ECT

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