William Black is an associate professor of economics and law at UMKC. He has held many prestigious positions, including executive director for Fraud Prevention. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae’s former senior management. He is a criminologist and former financial regulator.


Category: Regulation, Video

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4 Responses to “Bill Black: How to Rob a Bank”

  1. William Black is a hero!

    Here are a few thoughts on the biology behind control fraud… it has to do with the gap between biological altruism (which Ayn Rand ignored or didn’t believe existed) and intellectual altruism (a wonderful thing BUT does not fix the problem)…

    Which has to do with the subtle way this gap affects decision… and its drastic effects at scale.

    Prices, Costs and the Altruism Dilemma

    P.S. Ayn Rand’s economic theories are invalid and should be formally abandoned… they don’t conform to physical reality.

  2. alonzo says:

    This is a clear, concise indictment of the banking industry and its regulators. Black is much better in person than he is in print.
    Of course, the alleged fraudsters won’t explain themselves and won’t be prosecuted.
    Lawrence Lessig is right – the underlying cause is money in politics.

  3. James Shannon says:

    Bill Black is another national treasure, who’s Truth is clearly being ignored. Few will ever bother to learn what he knows. I’ve been following him for many years he is 100% spot on. The Regulators have failed their fellow Americans, and clearly have worked to benefit the 1%. He knows it and can prove it, but again those in High places will not follow the “Rule of Law” when they know they will NEVER be prosecuted.