Inside Job: The Looting of America's Savings and Loans (Forbidden Bookshelf)

But in the 1970s, Congress passed sweeping financial deregulation at the insistence of industry insiders that allowed these once quaint and useful institutions to spread their taxpayer-insured assets into new and risky investments. Less than 10 years later, half the nation’s savings and loans were insolvent, leaving the American taxpayer on the hook for a large hunk of the nearly half a trillion dollars that had gone missing.   The looser regulations and reduced federal oversight also opened the industry to an army of shady characters, white-collar criminals, and organized crime groups.   The authors of Inside Job saw signs of danger long before the scandal hit nationwide. New York Times Bestseller: A history of the S&L scandal that caused a financial disaster for American taxpayers: “Hard to put down” (Library Journal). For most of the 20th century, savings and loans were an invaluable thread of the American economy. Decades after the savings and loan collapse, Inside Job remains a thrilling

. Excepting Federal Home Loan Bank Board chairman Erwin Gray, who fought to limit deposit brokerage, Pizzo, Fricker and Muolo accuse the Justice Department, the courts and other federal and state agencies for ignoring or covering up four years of fraud. They also maintain that the guilty have not been punished and little of the loot has been recovered out of official fear of revelation. Fortified with unlimited broker deposits, the network plundered hundreds of federally insured thrifts. The authors discount the role of high oil prices, the Sunbelt recession and other factors as catalysts in the S & L disaster. From Publishers Weekly Bound to be controversial, this impressive expose by three journalists charges that the S & L industry was tak

I was in the industry, but this is still fascinating! This is the book that taught me never to loan a book to someone. I loaned my original copy to a friend in 1993 and never saw it again. I was ecstatic when I found that it was reprinted (my copy is definitely used, though that didn't come up in the description).Since I was an employee relations . What a Great Book on the S&L Crisis - 10 Stars if I Could S. Fox What a great book. It's dated but it doesn't matter since it covers the S&L crisis. This is extremely well written, thorough, and presents its story without taking sides. I had a hard time putting it down. You don't need to be a financial expert to read this. The authors managed to be comprehen. Crooks win - USA loses. JAL III I am new to the study of economics. The 2008 sub-prime recession launched my reading toward a better understanding of what had happened and why. After several books referenced earlier financial crises, I began reading about those. Enron was an amazing story. The RJR Nabisco takeover was enterta