S & L Hell: The People and the Politics Behind the $1 Trillion Savings and Loan Scandal

The savings and loan debacle is the costliest scandal in the country's history. How could such a catastrophe have occurred? The most remarkable thing about the collapse of the savings and loan industry is that so many of the major participants—the regulators, politicians, and S&L operators themselves—chose to do nothing as they watched problems mount and taxpayer liabilities grow. That choice was dictated by a variety of motives: greed, political self-interest, and even (sometimes) misguide...