2016 Postmortem

LongTomH

(8,636 posts) Sun Apr 10, 2016, 02:04 PM Apr 2016

Banking Expert Who Exposed Savings and Loan Corruption Joins Sanders Campaign

http://www.inquisitr.com/2979022/banking-expert-who-exposed-savings-loan-corruption-joins-sanders-campaign/#H8lB7yDGFJkrhYdQ.99

An expert in banking corruption and finance has joined the Bernie Sanders campaign. William K. Black, an associate professor at the University of Missouri-KC, is Bernie Sanders’ new economic advisor. Black was one of the central figures in exposing and prosecuting corruption in the savings and loan crisis from the late 1980s and mid-1990s. His addition to the Sanders campaign brings important knowledge in laws pertaining to finance and banking.

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Among others, Black exposed the Keating Five, a group of five senators involved in doing favors for savings and loans in exchange for contributions. Charles Keating, the chairman of Lincoln Savings & Loan was deeply involved. Sen. John McCain was one of those senators Black exposed. He, along with the rest of the senators, was reprimanded but otherwise unpunished.

Black’s tenacity in investigating the banking corruption angered so Keating, he wrote a memo ordering his death.

“…get Black — kill him dead. If you can’t you ought to retire.”

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In 2008, Black traveled to Iceland to help train and assist prosecutor and financial regulators. And although Iceland’s Prime Minister was discovered to be involved in tax havens via the Panama Papers, Black is hopeful that the small island country’s example can inspire Americans. After Icelanders took to the streets to protest, the prime minister resigned. Black expressed admiration for them.

“They know how to engage the rage. Sure it has one city and one capital — it’s easier. But the fundamental point is that they don’t put up with it.”

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Black’s announcement comes at a critical juncture in Sanders’ campaign, less than two weeks before the New York primaries. It is especially important given Sanders’ lackluster interview with the New York Daily News, after which Hillary Clinton accused him of not being experienced enough to “break up the big banks.” Black’s experience in regulatory banking and law, and his ability to elucidate his points skillfully, will certainly help Sanders do the same. And perhaps Black’s position of support will help him gain more credibility with voters still wary of his economic policies.

Most of all, maybe Bill Black can help Bernie Sanders’ campaign “engage the rage,” as well.

Prof. Black makes a great addition to Bernie's campaign. I would love to see him given a post in a Sanders administration.