Glossary/Black, William K.: Difference between revisions
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| | |term=Control Fraud | ||
|definition=When people who control (i.e. the CEO) a seemingly legitimate entity use it as a weapon to defraud. | |definition=When people who control (i.e. the CEO) a seemingly legitimate entity use it as a weapon to defraud. | ||
|example=The S&L crisis was perpetuated by an epidemic of control fraud, whereby CEOs defeated and suborned internal and external controls to fraudulently report record profits and increase their personal wealth. | |example=The S&L crisis was perpetuated by an epidemic of control fraud, whereby CEOs defeated and suborned internal and external controls to fraudulently report record profits and increase their personal wealth. | ||
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| | |term=S&L | ||
|definition=A Savings & Loan depository institution, also known as a thrift. The principle purpose of these institutions is to make mortgage loans. | |definition=A Savings & Loan depository institution, also known as a thrift. The principle purpose of these institutions is to make mortgage loans. | ||
|example= I wanted to buy a house, so I compared the financing offered by my local S&L with my usual bank. | |example= I wanted to buy a house, so I compared the financing offered by my local S&L with my usual bank. | ||
Revision as of 22:32, 4 August 2024
Glossary | People | William K. Black
Maintained by: Daniel Hawley
William K. Black is a law professor, criminologist, and former financial regulator.
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