There have been some incredible financial swindles in the history of the United States, but none have even come close to the collapse of the savings and loan industry. In this brilliant account, Mayer details how the disaster came about, who is to blame, and what, if anything, taxpayers can do about it.
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Book Description
Editorial Reviews
From Publishers Weekly
Mayer ( The Bankers ) here sounds a roaring indictment of grand thievery in the deregulated savings and loan industry, for which taxpayers are being billed billions in restitution costs for scores of S & L failures. Citing Charles H. Keating's Lincoln S & L among many others, Mayer not only denounces enormous profits based on Federal Deposit Insurance but suggests that members of Congress, bank regulators, Wall Street investment bankers and top accounting and legal firms condoned the pyramiding of speculative, overvalued and even nonexistent assets--all in return for campaign contributions, huge fees and self-perpetuating commissions. Names are named and nuts and bolts revealed, but the book's greatest virtue at times becomes its only drawback: the numbingly detailed intricacies--and blatant knavery--of each case history is almost beyond comprehension. BOMC and Fortune Book Club alternates.
Copyright 1990 Reed Business Information, Inc.
Copyright 1990 Reed Business Information, Inc.
From Library Journal
This popular business and financial writer ( The Bankers, LJ 2/1/75) has done extensive research to provide an up-to-date and very readable account of the savings and loan industry debacle. Like several other authors who've written on this during the past year, Mayer traces what happened and documents the activities of key personalities; however, Mayer's book is distinguished by his pertinent questions regarding the impact of the debt both in general and on the future of the industry itself, and his account of current activities of government agencies such as the newly formed Resolution Trust Corporation. A timely book that will most likely be in demand at public libraries.
- Steven J. Mayover, Free Lib. of Philadelphia
Copyright 1990 Reed Business Information, Inc.
- Steven J. Mayover, Free Lib. of Philadelphia
Copyright 1990 Reed Business Information, Inc.
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0 of 1 people found the following review helpful:
5.0 out of 5 stars
The same thing is happening today...,
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This review is from: The Greatest-Ever Bank Robbery: The Collapse of the Savings and Loan Industry (Hardcover)
This is an excellent book that goes over the saving and loans thefts back in the 80's... basically tells you that the same scam is happening today with the Banks. all the politicians are connected. they are all corrupt.
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