Black, William K.
The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S & L Industry
- ISBN 13:
- 9780292754188
- author:
- Black, William K.
- format:
- Paperback
- publisher:
- University of Texas Press
- language:
- English
- Publication Year:
- 2014
- Pages:
- 384
- Dimensions:
- 15.2 x 2.5 x 22.9 cm
- Genre:
- Business, Finance & Law,Biographies & Histories, Business & Economic History,
- Condition:
- New
- Availability:
- Item usually sent within 10 working days
Description
The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry This expert insider's account reveals how corrupt CEOs and CFOs defraud companies for personal gain, using strategies that exploit weak regulatory environments. William Black recounts his investigations as Director of Litigation for the Federal Home Loan Bank Board, exposing accounting fraud on a massive scale by S&L owners like Charles Keating. Black links the S&L crash to business failures in 2008 and beyond, showing how CEOs use similar tactics to defeat regulatory restraints and commit destructive fraud. He develops a theory of control fraud, explaining why it occurs in waves that make financial markets inefficient, and how to prevent such waves. A wake-up call for anyone concerned about corporate honesty, this book highlights the need for active, independent regulators to contain control fraud, a major threat in business today.
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