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In this expert insider’s account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOs—in collusion with those who have regulatory oversight of their industries—use to defraud companies for their personal gain. Recounting the investigations he conducted as Director of Litigation for the Federal Home Loan Bank Board, Black fully reveals how Charles Keating and hundreds of other S&L owners took advantage of a weak regulatory environment to perpetrate accounting fraud on a massive scale. In the new afterword, he also authoritatively links the S&L crash to the business failures of 2008 and beyond, showing how CEOs then and now are using the same tactics to defeat regulatory restraints and commit the same types of destructive fraud.

Black uses the latest advances in criminology and economics to develop a theory of why “control fraud”—looting a company for personal profit—tends to occur in waves that make financial markets deeply inefficient. He also explains how to prevent such waves. Throughout the book, Black drives home the larger point that control fraud is a major, ongoing threat in business that requires active, independent regulators to contain it. His book is a wake-up call for everyone who believes that market forces alone will keep companies and their owners honest.

Contrary to our stereotypical views, dictators often introduce elections in which they refrain from employing blatant electoral fraud. Why do electoral reforms happen in autocracies? Do these elections destabilize autocratic rule? The Dictator’s Dilemma at the Ballot Box argues that strong autocrats who can garner popular support become less dependent on coercive electioneering strategies. When autocrats fail to design elections properly, elections backfire in the form of coups, protests, and the opposition’s stunning election victories. The book’s theoretical implications are tested on a battery of cross-national analyses with newly collected data on autocratic elections and in-depth comparative case studies of the two Central Asian republics of Kazakhstan and Kyrgyzstan.

In April 1981, two white Texas prison officials died at the hands of a black inmate at the Ellis prison farm near Huntsville. Warden Wallace Pack and farm manager Billy Moore were the highest-ranking Texas prison officials ever to die in the line of duty. The warden was drowned face down in a ditch. The farm manager was shot once in the head with the warden's gun. The man who admitted to killing them, a burglar and robber named Eroy Brown, surrendered meekly, claiming self-defense.

In any other era of Texas prison history, Brown's fate would have seemed certain: execution. But in 1980, federal judge William Wayne Justice had issued a sweeping civil rights ruling in which he found that prison officials had systematically and often brutally violated the rights of Texas inmates. In the light of that landmark prison civil rights case, Ruiz v. Estelle, Brown had a chance of being believed.

The Trials of Eroy Brown, the first book devoted to Brown's astonishing defense, is based on trial documents, exhibits, and journalistic accounts of Brown's three trials, which ended in his acquittal. Michael Berryhill presents Brown's story in his own words, set against the backdrop of the chilling plantation mentality of Texas prisons. Brown's attorneys—Craig Washington, Bill Habern, and Tim Sloan—undertook heroic strategies to defend him, even when the state refused to pay their fees. The Trials of Eroy Brown tells a landmark story of prison civil rights and the collapse of Jim Crow justice in Texas.