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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.
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