S&L crisis 1000 felony convictions, 2007 Great Recession Zero

The Savings and Loan crisis rendered over 1000 criminal felony convictions due to fraud. When the same kind of debacle (instigated by William Clinton's deregulation - Gramm-Leach-Bliley) resulted in the Great Recession and economic collapse of 2007-2009, the amount of criminal convictions was.... ZERO. This is an interesting interview from the leader of the group which got those 1000+ convictions. It dives into what is wrong with the system today. I think some TFS folks will find it interesting, but I warn you, its long

William Black interview

Yeah, good synopsis. I read Reckless Endangerment by NY Times reporters, Morgenson and Rosner. It waters the eyes that not only the ones writing the loans in the banks and mortgage institutions, but also government officials who were encouraging this, to their great benefit, have not suffered the first conviction, or even arrest. The key was including government inspectors in the Partners for Home Ownership program which made them part of the problem instead of being the watchdogs they were supposed to be.

But this is all so complicated (which they counted on), and because both political parties were involved along with their cronies in the bigger corporations, nobody tended to "notice". Articles and books get published, then pft. Hell, I don't think even Ron Paul brought up prosecuting these people. He needs his contributions too. You scratch my back etc. So even though it's the worst financial crisis since the Depression, when the subject comes up in Washington, they all turn to zombies. And the media is in on it so it rarely comes up except with softball questions.