In this expert insider's account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOs-in collusion with those who have regulatory oversight of their industries-use to defraud companies for their personal gain. Recounting the investigations he conducted as Director of Litigation for the Federal Home Loan Bank Board, Black fully reveals how Charles Keating and hundreds of other SL owners took advantage of a weak regulatory environment to perpetrate accounting fraud on a massive scale. In the new afterword, he also authoritatively links the SL crash to the business failures of 2008 and beyond, showing how CEOs then and now are using the same tactics to defeat regulatory restraints and commit the same types of destructive fraud. Black uses the latest advances in criminology and economics to develop a theory of why control fraud -looting a company for personal profit-tends to occur in waves that make financial markets deeply inefficient. He also explains how to prevent such waves. Throughout the book, Black drives home the larger point that control fraud is a major, ongoing threat in business that requires active, independent regulators to contain it. His book is a wake-up call for everyone who believes that market forces alone will keep companies and their owners honest.
Product Identifiers
Publisher
University of Texas Press
ISBN-13
9780292754188
eBay Product ID (ePID)
183026530
Product Key Features
Author
William K. Black
Publication Name
The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry
Format
Paperback
Language
English
Subject
Economics
Publication Year
2014
Type
Textbook
Number of Pages
384 Pages
Dimensions
Item Height
229mm
Item Width
152mm
Item Weight
513g
Additional Product Features
Title_Author
William K. Black
Country/Region of Manufacture
United States
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