In this in-depth interview, Andrew Entwistle, Managing Partner of Entwistle & Cappucci LLP; William Black, a former S&L regulator, best-selling author of The Best Way to Rob a Bank Is to Own One and Professor of Economics and Law at the University of Missouri – Kansas City; and Steve Murphy, Host and Producer of the Insider Exclusive, analyze what’s wrong with the American financial system.
Andrew, Professor Black and Steve expose how the collapse of government regulation creates an environment for bankers and executives to act with impunity. But it was more than greed and incompetence that hurt our financial system – it was fraud. By creating triple-A rated bonds out of ¡°liars’ loans¡± – loans without verifying income, assets or employment – the federal government and the banking system set the stage for disaster in the real estate market and the broader economy. This drastic reduction in regulation is now responsible for the biggest banking crisis since the Great Depression. Andrew, Professor Black and Steve get to the heart of these financial shenanigans, and reveal the cost of governmental indifference.
William Black is a former S&L regulator, best-selling author of The Best Way to Rob a Bank Is to Own One and Professor of Economics and Law at the University of Missouri – Kansas City. He was the Executive Director of the Institute for Fraud Prevention from 2005-2007. He has taught previously at the LBJ School of Public Affairs at the University of Texas at Austin and at Santa Clara University, where he was also the distinguished scholar in residence for insurance law and a visiting scholar at the Markkula Center for Applied Ethics. Bill is also the author of The Best Way to Rob a Bank is to Own One (University of Texas Press 2005), an insider’s account of the savings and loan debacle of the 1980s.
Andrew Entwistle is the Managing Partner of Entwistle & Cappucci LLP. Andrew’s practice principally involves the representation of public and private institutional investors in complex litigation and corporate finance and transactional matters. Over the years, Andrew has represented clients including Fortune 100 companies, public and private institutional investors, governmental and individual clients in a variety of corporate finance, and transactional matters and in complex business, securities, antitrust and bankruptcy litigation throughout the United States before federal and state courts, surrogate’s and probate courts, grand juries, administrative and regulatory agencies and arbitration panels. For example, Andrew’s recent representation of the Colorado Public Employees Retirement Association in In re Royal Ahold N.V. Securities and ERISA Litigation led to a recovery of more than $1.1 billion for his clients. Andrew is also actively engaged in the defense of institutional investors and international businesses in complex securities, antitrust, bankruptcy and corporate finance related matters.
Entwistle & Cappucci LLP is a national law firm with eight offices strategically located throughout the country to best serve clients’ diverse needs. The firm provides top-flight legal representation and exceptional service to clients that include major public corporations, a number of the nation’s largest public pension funds, governmental entities, leading institutional investors, domestic and foreign financial services companies, emerging business enterprises and individual entrepreneurs.