The Ongoing Cover Up of the Truth Behind the Financial Crisis May Lead to Another Crash

William K. Black – professor of economics and law, and the senior regulator during the S & L crisis – says that that the government’s entire strategy now – as during the S&L crisis – is to cover up how bad things are (“the entire strategy is to keep people from getting the facts”). Continue reading

Banks Create Money Out of Thin Air, Not Out of Pre-Existing Deposits or Reserves

The battle to reform the American banking system needs to include reimposing the barrier between investment banking and depository banking (Glass-Steagall), pay incentives based on what is best for Americans and not just the top executives, the end of too big to fail, and other changes which are frequently discussed by financial writers. These are vital issues. Continue reading