William Black's Testimony: What Do You Think?

Apr.27.10 | About: Lehman Bros (LEHMQ)

Platoplubius has the video at Raging Debate.com of William K. Black's testimony before the House Committee on Financial Services on April 20 . This testimony was presented from a 24 page document submitted to the committee, which was discussed here.

Black's statement to the committee took 8 minutes. During the last two minutes the chair's gavel can be heard pounding in the background as an attempt was made to hold Mr. Black to a brief time limit.

Prof. Black (University of Missouri Kansas City) was a leading regulator in resolving the Savings & Loan crisis from 1986 to 1995. He is blowing the whistle on one of the biggest frauds committed in the credit bubble and exposing what amounted to a cover up by the Federal Reserve Board and the Federal Reserve Bank of New York. And an imperious chair is pounding a gavel!

Watch this video and decide for yourself if you think the House Committee on Financial Services has any interest in getting to the real problems in the financial system.

Disclosure: No positions.