Glossary/Black, William K.: Difference between revisions
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|example1=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. | |example1=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. | ||
|references1=William K. Black, The Best Way to Rob a Bank is to Own One, 2005. | |references1=William K. Black, The Best Way to Rob a Bank is to Own One, 2005. | ||
|term2=S&L | |term2=S&L | ||
|definition2=A Savings & Loan depository institution, also known as a thrift. The principle purpose of these institutions is to make mortgage loans. | |definition2=A Savings & Loan depository institution, also known as a thrift. The principle purpose of these institutions is to make mortgage loans. | ||
|example2=I wanted to buy a house, so I compared the financing offered by my local S&L with my usual bank. | |example2=I wanted to buy a house, so I compared the financing offered by my local S&L with my usual bank. | ||
|references2= Black (1995). | |references2=Black (1995). | ||
|term3=S&L Crisis | |term3=S&L Crisis | ||
|definition3=A wave of S&L failures in the 1980s incited by the Volker Shock and perpetuated by deregulation, desupervision, and widespread fraud. | |definition3=A wave of S&L failures in the 1980s incited by the Volker Shock and perpetuated by deregulation, desupervision, and widespread fraud. | ||
|example3=At the time, the S&L Crisis was the largest financial crisis since the Great Depression. | |example3=At the time, the S&L Crisis was the largest financial crisis since the Great Depression. | ||
|references3= Black (1995). | |references3=Black (1995). | ||
}} | }} | ||
Revision as of 22:49, 4 August 2024
Glossary | People | William K. Black
Maintained by: Daniel Hawley
William K. Black is a law professor, criminologist, and former financial regulator.
| Term | Definition | Example | References |
|---|---|---|---|
| Control Fraud | When people who control (i.e. the CEO) a seemingly legitimate entity use it as a weapon to defraud. | 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. | William K. Black, The Best Way to Rob a Bank is to Own One, 2005. |
| S&L | A Savings & Loan depository institution, also known as a thrift. The principle purpose of these institutions is to make mortgage loans. | I wanted to buy a house, so I compared the financing offered by my local S&L with my usual bank. | Black (1995). |
| S&L Crisis | A wave of S&L failures in the 1980s incited by the Volker Shock and perpetuated by deregulation, desupervision, and widespread fraud. | At the time, the S&L Crisis was the largest financial crisis since the Great Depression. | Black (1995). |