Edward Ulysses Cate

What Will Induce Banks to Make Riskier Loans?

If you really want to understand how two insolvent financial entities can be combined and quickly show profits, here's the book.
The Best Way To Rob A Bank Is To Own One, subtitled How Executives and Politicians Looted the S&Ls.
What we're seeing today is Act II. I heard about it April 3 on Bill Moyers Journal, ordered it, and finished it a few days ago. What goes on in these control-frauds and behind-the-scenes in regulatory warfare is beyond disgusting. The author was a litigator with the Bank Board at that time. "False Profits Once Again" commentary at my website was written as I was halfway through the book.

The Banking Time Bomb Test

If you really want to understand these huge banks, "The Best Way To Rob A Bank Is To Own One" by William K. Black. Most of the bank examiners were not around back in the 80s, so they're being used on wave number two just like the same type of examiners were used in the S&L fiasco. The control frauds, the financial superpredators, easily enlisted the aid of the top-tier audit firms, top-tier law firms and their politicians to try their best to continue their Ponzi/Madoff schemes. In fact, they have no other choice. Black details how two insolvent firms can be merged and then show profits. Here we go again. Only bigger and much more damaging. Sure wish it wasn't so.