The Greatest-Ever Bank Robbery: The Collapse of the Savings and Loan Industry - Hardcover

Mayer, Martin

Hardcover

ISBN 10: 0684191520 ISBN 13: 9780684191522

Publisher: Scribner, 1990

Synopsis

Traces the events, policies, and players in the savings and loan scandal, exposing the duplicity of thrift operators, lawyers, and politicians, and criticizing current plans for reform of the banking system

About this title

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.

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.

About this edition

• Publisher: Scribner
• Publication date: 1990
• ISBN 10: 0684191520
• ISBN 13: 9780684191522
• Binding: Hardcover
• Number of pages: 354