Bill Black on Lehman fraud and failure

Testifying at House FinServ hearing

Lehman’s story is a story of fraud, their subprime and liar loans operations. They sold it to the world. Regulatory heads blocked reform. We knew for a decade these were frauds. But DC did nothing. When Black was Litigation Director of Federal Home Loan Bank board in the 80’s during the massive bank failures. He forced out CEO’s. They sent 50 people to one bank then, the Fed sent two people as Lehman was collapsing. Two. The fed could have stopped the fraud, they had the power, they did nothing.

Check the five videos here for more Bill Black on control fraud


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