Thursday, October 25, 2012

Back Bill Black

If you already know that you would like Bill Black appointed to a position to investigate the fraud leading to the crisis, go directly to:

Bill Black was a regulator during the Reagan Administration. He spent years investigating and prosecuting the fraud that led to the Savings and Loan crisis. As an economist, attorney, and criminologist, he is uniquely qualified to provide perspective on what has transpired in our financial sector.

There may be many regulators who could take on rigorous investigations of the fraud leading to our crisis. But I doubt any other has the experience, the multi-disciplinary background, the determination, and the integrity that Bill Black brings to the table. Add to that how outspoken and honest he is, and we have ourselves the ultimate regulator.

I am not suggesting that it will be easy to get Black appointed. He is an equal-opportunity critic and does not pull his punches. He has criticized Republicans and Democrats. He has criticized economists and policy makers and legislators. He has criticized presidents and their appointees. And he has criticized elites in our financial sector.

As Bill Black says, he is expert in career-limiting gestures. But those career-limiting gestures are precisely what makes him the ideal appointee for citizens. He is unwavering in what he sees as the role of regulators: to protect citizens. Let us do what we can to make Bill Black our Ferdinand Pecora.

If enough of us get behind Bill Black, we have a chance. I have no doubt that our leaders want to do the right thing. But they are constrained by political realities and warped incentives. A groundswell of support for Bill Black will serve as the excuse they need to do the right thing. Let's give them the opportunity to appoint Bill Black by giving him the push that he needs. It could well mean a more stable and healthier economic future for us all.

Check out Back Bill Black directly:

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