Occupied Media: Interview With Professor William K. Black
Often participating in econoblogging is done by an older crowd. I receive requests by younger potential econobloggers to read some of their posts, but often such posts are lacking in enough documentation and thoroughness of understanding for publication here. My hope is that this young woman becomes the exception. Re-posted with authors permission Dan
by Taryn Hart at Plutocracy files
Guest post: Occupied Media: Interview With Professor William K. Black
So, this video took far too long to post due to technical difficulties (and we ultimately ended up posting without video). However, the content is amazing. The interview is with esteemed law professor Bill Black who has been a tireless advocate for reform of the financial system and prosecution of the fraudsters that brought our economy to its knees. The title of his book really says it all: The Best Way to Rob a Bank is to Own One.
Professor Black is an Associate Professor of Economics and Law at the University of Missouri, Kansas City, a white-collar criminologist and a former financial regulator. He blogs at New Economic Perspectives and tweets at @WilliamKBlack. Professor Black has been an advocate of the Occupy Wall Street Movement and he has been remarkably generous with his time.
A huge thanks to video editor Paul Shockey for getting this interview out despite the numerous technical problems.
it’s probably worth pointing out that taryn has also interviewed other economists, including dean baker, john quiggin, larry mishel of EPI, jared bernstein, & more…& for those, the video worked…
see the top left sidebar at Plutocracy files…
Marvelous interview, thanks. Because of this sustained housing bubble we had the appearance of a functioning economy. Dean Baker says that $1.2 trillion per year of consumer demand of the $14 trillion GDP was lost when the bubble collapsed and that the $300 billion stimulus applied in 2009 and 2010 (total of $600 billion for two years) was not enough to restore the economy. The GDP dropped by 5.0% in 2008. The Dept. of Labor states 8.75 million jobs were lost since Dec. 2007, only 2.3 million since recovered, so about 5% of the labor force are permanently unemployed. Of the recovery (???) since July 2009 about 90% of it was generated by rising corporate profits, and none of it by rising incomes, which are flat since 7.2009 (read Andrew Sum’s report from Northeastern Univ, The Wageless and Jobless Recovery). Perhaps 8 to 10 million homes, or about 1/6 of homes, have been foreclosed, another 1/4 are underwater. The damage has been immense. The median household net worth has dropped to below 1983 levels, from $102,000 to $65,000 according to Sylvia Allegretto’s report State of Working America’s Wealth. Job growth is pitiable, there were more private sector jobs in 2000 than in 2010 per BLS statistics. Wm. Black is the only voice demanding prosecution, and few others are pointing fingers at the financial services industry for self-destructing, and self-destructing as a planned method for self-enrichment of executive officers and high level staff. My blog is http://benL8.blogspot.com. I hope Taryn and Wm. Black get a much wider audience.
Hi Ben:
If I follow that link, I do not arrive at your blog. If you are the same Ben who does Huffington, we would like to link to you. You make good points!