This is the title of a book Bill Black wrote about the Savings & Loan Debacle back in the 1980-to-90’s
There are many insights in this conversation between Bill and Bill. And even though it was taped in 2009, it is amazing how little action has been taken by the administration to remedy the financial crisis.
“We’re failing to learn from our mistakes” — says Black, and nails it when he says this meltdown is as much a moral crisis as a financial one – demonstrating a systemic lack of integrity.
“The financial meltdown was driven by fraud at the highest levels.”
“We should learn how to better deal with fraud, instead we’re covering it up to “create confidence.” The cover-up is so successful- we don’t have the facts. We need to know the facts to make intelligent decisions.”