Economist: US collapse driven by ‘fraud'; Geithner covering up bank insolvency

The Raw Story | Stephen C. Webster | April 4, 2009

In an explosive interview on PBS’ Bill Moyers Journal, William K. Black, a professor of economics and law with the University of Missouri, alleged that American banks and credit agencies conspired to create a system in which so-called “liars loans” could receive AAA ratings and zero oversight, amounting to a massive “fraud” at the epicenter of US finance.

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