As we close in on the fourth anniversary of the start of the financial crisis (Lehman Brothers filed for bankruptcy on September 15), it’s important to focus not only on institutional causes, but also catalysts related to the dark side of human nature. In this 2009 Moyers Moment from Bill Moyers Journal, veteran bank regulator and watchdog William Black describes the environment of fraud, deceit and deliberate betrayal that set disastrous events in motion.
“There’s no more effective acid against trust than fraud, especially fraud by top elites,” Black tells Bill. “And that’s what we have.”
Watch Bill’s full conversation with William Black.