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The Best Way to Rob a Bank Is to Own One

How Corporate Executives and Politicians Looted the S&L Industry

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The Best Way to Rob a Bank Is to Own One

By: William K. Black
Narrated by: Scotty Drake
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About this listen

In this expert insider's account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOs - in collusion with those who have regulatory oversight of their industries - use 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 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.

©2005, 2013 University of Texas Press (P)2014 Redwood Audiobooks Banks & Banking Economic History Political Science Loan Business

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Profile Image for Robert Barwick

Should be compulsory study for all regulators!

William Black has done the world a huge favour in dissecting control fraud. Everything he details about the American S&L fraud in the 1980s has been repeated in Australian banks in the last two decades. This book proves the regulators have no excuse - they only don't find fraud because they are complicit in it.

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