Daily Archives: August 20, 2010

The Best Way To Rob A Bank Is To Own One

I felt the following needed more prominent display than in my comment on RichardH’s post Mel Brooks and the bankers.

This comes from the article mentioned in Richard’s post.

In 2005, the white-collar criminologist, economist, and lawyer William Black published a book entitled “The best way to rob a bank is to own one”.

Mr. Black has listed the four main characteristics of fraudulent banks.

  • They grow very rapidly;
  • They make really bad loans at high yields (because only borrowers who have no intention of paying back will borrow at exorbitant interest);
  • They pile up huge debts; and
  • They set aside pitifully small loss reserves.

President Obama’s Winning Streak

Eugene Robinson’s column, President Obama’s Winning Streak,  in The Washington Post starts this way:

This is a radical break from journalistic convention, I realize, but today I’d like to give credit where it’s due — specifically, to President Obama. Quiet as it’s kept, he’s on a genuine winning streak.

and ends this way:

He still hasn’t walked on water, though. What’s wrong with the man?

I am going to post Vice President Joe Biden’s speech to the Democratic National Committee as soon as I can find the video on YouTube. This speech rises to the level of the best speeches that the President himself has given. Until then, Eugene Robinson’s column will have to do.