William K. Black: Foreshadowing the Three Fraud Epidemics that Drove the Crisis: “[Piskorski, Seru, and Witkin] were not aware, however… …of the answers to these fundamental questions [about mortgage fraud]…. ‘These misrepresentations are not instances of the classic asymmetric information problem in which the buyers know less than the seller. Rather, we contend that they … Continue reading Afternoon Must-Read: William K. Black: Foreshadowing the Three Fraud Epidemics that Drove the Crisis