The Wall Street Crime Wave

William Black Warns That Financial Reform Bill Won't Stop The Wall Street Crime Wave: "'Once you understand the implications of massively fraudulent practices,' said James Galbraith, a progressive economist at the University of Texas, 'it changes the professional community that has the principal say about interpreting the crisis.'

Economists, he said, should move into the background -- and 'criminologists to the forefront.'"

Now there is an adequate perception.

"Criminologists ask 'fundamentally different types of questions' than the ones being asked.

'First we ask: Does this business activity, the way they're conducting it, make any sense for an honest firm? And we see many activities that make no sense for an honest firm.'

One example is the 'liar's loans.' With something like 90 percent of them turning out to be fraudulent, they are not profitable loans to make -- unless you're getting paid based on volume, and unless the idea is to sell them off to someone else."

Yeowee!