REPUBLICANS ARE PLAYING CHICKEN WITH THE DEBT CEILING (WHICH IF NOT RAISED WOULD CRASH ALL THE WORLD'S ECONOMIES) IN THE HOPES THAT TIMID DEMOCRATS WILL CAVE IN TO THEIR PLAN TO GUT THE MOST POPULAR PROGRAM EVER PASSED BY CONGRESS, SOCIAL SECURITY

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January 4, 2011

Republicans' Deficit Ceiling Bluff an Attack on Social Security

William K. Black: Forces pushing for cuts in social security preparing conditions for its demise



Bio

William K. Black, associate professor of economics and law at the University of Missouri, Kansas City, teaches White-Collar Crime, Public Finance, Antitrust, Law & Economics. A former financial regulator, he held several senior regulatory positions during the S&L debacle. Black is the author of The Best Way to Rob a Bank Is to Own One (2005) which focuses on the role of “control fraud” in financial crises. Black developed the concept of "control fraud" — frauds in which the CEO or head of state uses the entity as a "weapon." Control frauds cause greater financial losses than all other forms of property crime combined.