Reddit Reddit reviews The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry

We found 5 Reddit comments about The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry. Here are the top ones, ranked by their Reddit score.

Business & Money
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Economics
Economic History
The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry
University of Texas Press
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5 Reddit comments about The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry:

u/SilencingNarrative · 2 pointsr/Bitcoin

That's a very innocent explanation of how the political / financial system was caught off guard. I would suggest to you that the financial system is thoroughly corrupt and the enormous powers that we have given to the fed and to banks themselves are not being used in good faith.

I was listening to William Black, a former banking regulator who was Bernie Sanders's economic advisor during his campaign, talk about how bad due dilligence had become in banks before 2008, and how banking regulators and banks collude to engage in enormous fraud, on Bill Moyer's show a few years ago. Here is a youtube link to that show.

And here is the amazon link to one of Black's books on the subject.

I think bitcoin has the potential to clean this up by relieving the banks and the fed of those enormous powers.

In that interview (I think that is the one), Black talks about how a new banking regulator who was new at the job called up a bank and asked them for their loan tapes. That means the record of mortgages the bank has on their books and the paperwork they did to establish the credit worthiness of the borrowers.

The bank called the regulator's boss, who then had a little chat with the regulator. He was told to not ask banks for their loan tapes anymore, because everyone knows that banks can't produce them anymore.

That sort of story was rampant in the industry.

u/posnfen · 1 pointr/funny