James48843
TSP Talk Royalty
- Reaction score
- 570
Amazing video --where a guy who helped clean up the Savings and Loan crisis back in the 1980's, came out with this testimony about what is happening now - testimony regarding Lehman Brothers.
This is testimony from William K. Black, who was a litigator back in the 1980's, tells the Senate Committee what really happened. See Black's bio here: http://en.wikipedia.org/wiki/William_K._Black
"”Black asserted that the banking crisis in the United States that started in late 2008 is essentially a big Ponzi scheme; that the "liar loans" and other financial tricks were essentially illegal frauds; and that the triple-A ratings given to these loans was part of a criminal cover-up.“
This is testimony from William K. Black, who was a litigator back in the 1980's, tells the Senate Committee what really happened. See Black's bio here: http://en.wikipedia.org/wiki/William_K._Black
"”Black asserted that the banking crisis in the United States that started in late 2008 is essentially a big Ponzi scheme; that the "liar loans" and other financial tricks were essentially illegal frauds; and that the triple-A ratings given to these loans was part of a criminal cover-up.“
