Banking Inquiry week 5: Black gold oils wheels of debate

Banking Inquiry week 5: Black gold oils wheels of debate
Bill Black: the US academic and regulator says that banker failures cause bank failures Picture: Bryan Meade

Bill Black can’t hold back on his frustration with Nyberg and the Constitution’s grip on the banking inquiry

Bill Black is academic rock ‘n‘ roll gold. The University of Missouri law professor trades in refined hyperbole and embellishment that somehow seems entirely appropriate when discussing the blanket bank guarantee.

“Absolute disaster. Insane decision. Simply indefensible. It sank an entire nation. The worst in history. The most destructive own goal in history. The worst possible decision that could have been made.”

You get the picture. The banking inquiry members in committee room three burst...

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