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High Rollers: Inside the Savings and Loan Debacle

Autor Martin Lowy
en Limba Engleză Hardback – 29 iul 1991 – vârsta până la 17 ani
Lowy avoids the easy answers, like blaming it on fraud and greed, and explains how something of this magnitude could occur under the noses of those who should have protected the taxpayer. Paul M. Horvitz, University of Houston Market forces, not scoundrels, destroyed the savings and loan business. So says Martin Lowy in what is truly an inside look at the savings and loan crisis. Drawing upon his experience as a practicing attorney, bank officer, and savings and loan director, Lowy provides an expert account of the problems that have overwhelmed the nation's savings institutions and their government regulators.High Rollers is the first book on the S&L crisis that provides an analytical groundwork for technical and nontechnical readers--so that both can comprehend what happened. Lowy's clear, readable style allows him to quickly describe the origins of the problems in new market forces and new technologies, and how the problems grew out of control as a result of regulatory mistakes and congressional inaction. Even his discussions of real estate lending practices and accounting issues are, in the words of Professor Horvitz, both clear to the novice and instructive to the professional.
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Specificații

ISBN-13: 9780275939885
ISBN-10: 027593988X
Pagini: 336
Dimensiuni: 152 x 229 x 30 mm
Greutate: 0.72 kg
Editura: Bloomsbury Publishing
Colecția Praeger
Locul publicării:New York, United States

Notă biografică

MARTIN LOWY is a banker and lawyer with 25 years of experience in thrift institution law, management, and regulation. As a lawyer he has represented thrift institutions, bank trade associations, and accounting firms, as well as the New York State Superintendent of Banks and the Federal Deposit Insurance Corporation in failing bank situations. He served as Vice Chairman of Dollar Dry Dock Bank from 1986 to 1989, and currently is Counsel to the New York law firm of Rosenman & Colin.

Cuprins

PrefaceIntroductionChronologyHow It HappenedFixed Rates in a Volatile WorldHow Insured S&Ls FailDick Pratt Figures Out How to Run a Bankrupt Federal Insurance FundThe False Spring of 1983Real Estate Lending 101Permissive Loan Fee Accounting--The LinchpinMammon Against the God of Home OwnershipEd Gray Tries to Cope and the World Goes Galloping ByThe Big Texas DisasterThe Laws Trash the TrashSilverado, Lincoln and CenTrustThe Junk Bond ConnectionFraud and Misconduct 101Wall Street Remakes the Mortgage BusinessPolitics as Usual--Everybody Fiddles While the FSLIC BurnsDanny Wall and the 1988 DealsFIRREAWhat Caused How Much of the Losses?High RollersThe Lessons of the PieceEvaluating DeregulationBecause Banks Are Where the Money IsThe Importance of CountingAvoid Complexity That No One Can UnderstandSupervision and EnforcementRegulation Can't Tame Technology or Market ForcesDeposit Insurance ReformThe Future of Thrift InstitutionsPostscriptAppendix: Dynamics of a Broke S&LSelected BibliographyIndex