This week's statement that the Justice Department will seek prosecutions of individual bankers engaged in fraud promises to reverse its greatest strategic failure against elite white-collar crime.
About William K. Black
William K. Black is Editor-in-Chief and Contributor at New Economic Perspectives and is an associate professor of economics and law at the University of Missouri-Kansas City. He was the executive director of the Institute for Fraud Prevention from 2005-2007. He has also been litigation director of the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and general counsel of the Federal Home Loan Bank of San Francisco, and senior deputy chief counsel, Office of Thrift Supervision. He played a critical role in the ethics investigation of the U.S. senators involved in the "Keating Five" financial scandal. His book, "The Best Way to Rob a Bank is to Own One" (University of Texas Press 2005), has been called “a classic.”