Weinberger on Too Big to Know
EconTalk
William Black talks with host Russ Roberts about financial fraud, starting with the Savings & Loan debacle up through the current financial crisis. Black explains how bank executives can use fraudulent loans to inflate the size of their bank in order to justify large compensation packages. He argues that "liar loans" were a major part of the crisis and that policy changes made it easy to generate such loans without criminal repercussions