No. of Recommendations: 0
I agree with most of what you said, but there is one thing that perpetuates a myth. The S&L debacle was created by the change in tax laws in Congress which changed the way S&L's could account for loans and securities they held. The rules were changed in one fell swoop by vindictive dems and they killed an entire industry. Look at the 1986 bank law changes for the cause and the recent cases on Glendale which hold the go'mint liable for the writedown in good will that was forced on them. Then you will see the real culprits.

Sure the S&L's were on a roll. But the hill was slicked by the regulators to begin with.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.