by David J. McCarthy
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Full Faith and Credit: The Great S & L Debacle and Other Washington Sagas by L. William Seidman |
by Richard Epstein
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by Herbert Hovenkamp
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Big Money Crime: Fraud and Politics in the Savings and Loan Crisis by Kitty Calavita |
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Editorial Reviews
From Publishers Weekly
In a hackle-raising expose of the S & L scandal, Day, who covered this financial disaster for the Washington Post , estimates that the debacle not only will cost taxpayers more than $1 trillion but will force the administration to nationalize the nation's thrifts. With a masterly grasp of her complex subject, she traces the scandal from an Ohio thrift's collapse in 1985 to the workings of the global banking system, and defines the roles that financial, political and criminal individuals or groups knowingly or unknowingly played following the Reagan era's thrift deregulation policies, which provided a "license to gamble," especially in risky real estate loans. Day records that it was not until late 1991 that the Bush administration publicly recognized that the taxpayers would have to foot the bill for the S & L "cleanup," a program of closing, seizing, and selling the $500 billion assets of failed trusts. So far, only a pittance has been recovered through legal prosecution of the guilty.
Copyright 1993 Reed Business Information, Inc.
From Library Journal
Day retells the unfortunate details that led to what she calls "the costliest scandal in the country's history." As a reporter for the business section of the Washington Post , Day covered the events as they unfolded from 1986 through 1990. Early 1980s legislation changed the conservative nature of S&L investments, giving license to unprincipled or naive officials of thrift institutions to squander depositors' money with the knowledge that the government would guarantee individual accounts up to $100,000. With a gift for seeing irony in the sordid events of this story, Day highlights certain unforgettable personalities whose monstrous capacity for self-indulgence came at the expense of the public interest. Though the ground has been covered before, this is a worthwhile addition to the literature of this watershed debacle.
- Joseph Barth, U.S. Military Acad. Lib., West Point, N.Y.
Copyright 1993 Reed Business Information, Inc.
See all Editorial Reviews
In a hackle-raising expose of the S & L scandal, Day, who covered this financial disaster for the Washington Post , estimates that the debacle not only will cost taxpayers more than $1 trillion but will force the administration to nationalize the nation's thrifts. With a masterly grasp of her complex subject, she traces the scandal from an Ohio thrift's collapse in 1985 to the workings of the global banking system, and defines the roles that financial, political and criminal individuals or groups knowingly or unknowingly played following the Reagan era's thrift deregulation policies, which provided a "license to gamble," especially in risky real estate loans. Day records that it was not until late 1991 that the Bush administration publicly recognized that the taxpayers would have to foot the bill for the S & L "cleanup," a program of closing, seizing, and selling the $500 billion assets of failed trusts. So far, only a pittance has been recovered through legal prosecution of the guilty.
Copyright 1993 Reed Business Information, Inc.
From Library Journal
Day retells the unfortunate details that led to what she calls "the costliest scandal in the country's history." As a reporter for the business section of the Washington Post , Day covered the events as they unfolded from 1986 through 1990. Early 1980s legislation changed the conservative nature of S&L investments, giving license to unprincipled or naive officials of thrift institutions to squander depositors' money with the knowledge that the government would guarantee individual accounts up to $100,000. With a gift for seeing irony in the sordid events of this story, Day highlights certain unforgettable personalities whose monstrous capacity for self-indulgence came at the expense of the public interest. Though the ground has been covered before, this is a worthwhile addition to the literature of this watershed debacle.
- Joseph Barth, U.S. Military Acad. Lib., West Point, N.Y.
Copyright 1993 Reed Business Information, Inc.
See all Editorial Reviews
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6
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- Discharging Congress: Government by Commission by Colton C. Campbell on page 110, and Back Matter
- Human Rights Horizons: The Pursuit of Justice in a Globalizing World by Richard A. Falk in Back Matter
- Unlocking the Middle East: The Writings of Richard Falk by Richard A. Falk in Back Matter
- Tip O'Neill and the Democratic Century by John A. Farrell in Back Matter
- Triumph of the Market: Essays on Economics, Politics, and the Media by Edward S. Herman in Back Matter
See all 6 books citing this book
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