The Best Way to Rob a Bank is to Own One (häftad)
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Format
Häftad (Paperback / softback)
Språk
Engelska
Antal sidor
384
Utgivningsdatum
2013-09-15
Upplaga
Updated Edition
Förlag
University of Texas Press
Illustrationer
black & white illustrations
Dimensioner
226 x 152 x 28 mm
Vikt
499 g
Antal komponenter
1
Komponenter
Paperback
ISBN
9780292754188

The Best Way to Rob a Bank is to Own One

How Corporate Executives and Politicians Looted the S&L Industry

Häftad,  Engelska, 2013-09-15
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In this expert insiders account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOsin collusion with those who have regulatory oversight of their industriesuse to defraud companies for their personal gain. Recounting the investigations he conducted as Director of Litigation for the Federal Home Loan Bank Board, Black fully reveals how Charles Keating and hundreds of other S&L owners took advantage of a weak regulatory environment to perpetrate accounting fraud on a massive scale. In the new afterword, he also authoritatively links the S&L crash to the business failures of 2008 and beyond, showing how CEOs then and now are using the same tactics to defeat regulatory restraints and commit the same types of destructive fraud. Black uses the latest advances in criminology and economics to develop a theory of why control fraudlooting a company for personal profittends to occur in waves that make financial markets deeply inefficient. He also explains how to prevent such waves. Throughout the book, Black drives home the larger point that control fraud is a major, ongoing threat in business that requires active, independent regulators to contain it. His book is a wake-up call for everyone who believes that market forces alone will keep companies and their owners honest.
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Fler böcker av William K Black

Recensioner i media

"This is an extraordinary book... No other account gives a complete picture of the control fraud that occurred in the S & L crisis... There is no one else in the whole world who understands so well exactly how these lootings occurred in all their details and how the changes in government regulations and in statutes in the early 1980s caused this spate of looting... This book will be a classic." George A. Akerlof, University of California, Berkeley, winner of the 2001 Nobel Prize for Economics

Övrig information

William K. Black is Associate Professor of Economics and Law at the University of Missouri, Kansas City, where he teaches White-Collar Crime, Public Finance, Antitrust, Law & Economics. He covers markets and regulation with his speech "Unsound Theories and Policies Produce Epidemics of Fraud and Regulatory and Market Failures."

Innehållsförteckning

Abbreviations Preface Acknowledgments Chapter 1. Theft by Deception: Control Fraud in the S&L Industry Chapter 2. Competition in Laxity Chapter 3. The Most Unlikely of Heroes Chapter 4. Keatings Unholy War against the Bank Board Chapter 5. The Texas Control Frauds Enlist Jim Wright Chapter 6. The Faustian Bargain Chapter 7. The Miracles, the Massacre, and the Speakers Fall Chapter 8. M. Danny Wall: Child of the Senate Chapter 9. Final Surrender: Wall Takes Up Neville Chamberlains Umbrella Chapter 10. Its the Things You Do Know, But Arent So, That Cause Disasters Afterword Appendix A. Keatings Plan of Attack on Gray and Reregulation Appendix B. Hamstringing the Regulator Appendix C. Get Black ... Kill Him Dead Notes Names and Terms References Index