Big Money Crime: Fraud and Politics in the Savings and Loan Crisis Book PDF, ePub eBook

Join our eBook service for unlimited books & audiobooks. Get a free 7 day subscription! ↓↓↓↓↓


Book Descriptions:
At a cost of $500 billion to American taxpayers, the savings and loan debacle of the 1980s was the worst financial crisis of the twentieth century as well as a crime unparalleled in American history. Yet the vast majority of its perpetrators will never be prosecuted, and those who were have received minimal sentences. In the first in-depth scrutiny of the ways and means of this disaster, this groundbreaking book comes to disturbing conclusions about the deliberate nature of this financial fraud, the political collusion involved, and the leniency of the criminal justice system in dealing with these "Gucci-clad white-collar criminals."

Using material from over one hundred interviews with government officials and industry leaders and recently declassified documents, the authors show how—contrary to previous government and "expert" explanations that chalked the disaster up to business risks gone awry or adverse economic conditions—S&L leaders engaged in deliberate fraud, stealing from their own corporations to speculate on high-risk ventures. Tempted by the insurance net, perpetrators looted their own institutions in a new kind of white-collar crime the authors dub "collective embezzlement."

Big Money Crime also demonstrates how systematic political collusion—not just policy errors—was a critical ingredient in this unprecedented series of frauds. Bringing together statistics from a variety of government agencies, the authors provide a close reading of the track record of prosecutions and sentencing and find that "suite crime" receives much more lenient treatment than "street crime," despite its significantly higher price tag. The book concludes with a number of modest, but no less urgent, policy recommendations to counter the current deregulatory trend and to avert a replay of the S&L debacle in other financial sectors.

FROM THE BOOK:"We built thick walls; we have cameras; we have time clocks on the vaults . . . all these controls were to protect against somebody stealing the cash. Well, you can steal far more money, and take it out the back door. The best way to rob a bank is to own one."—House Committee on Government Operations, 1988

Big Money Crime: Fraud and Politics in the Savings and Loan Crisis by Kitty Calavita, Henry N. Pontell, Robert Tillman

From reader reviews:

Amos Curley:

Why don't make it to become your habit? Right now, try to prepare your time to do the important behave, like looking for your favorite book and reading a book. Beside you can solve your problem; you can add your knowledge by the reserve entitled Big Money Crime: Fraud and Politics in the Savings and Loan Crisis. Try to make book Big Money Crime: Fraud and Politics in the Savings and Loan Crisis as your friend. It means that it can to become your friend when you really feel alone and beside that of course make you smarter than previously. Yeah, it is very fortuned in your case. The book makes you more confidence because you can know anything by the book. So , let us make new experience in addition to knowledge with this book.

Brent Whitty:

Do you considered one of people who can't read pleasant if the sentence chained within the straightway, hold on guys this aren't like that. This Big Money Crime: Fraud and Politics in the Savings and Loan Crisis book is readable simply by you who hate those perfect word style. You will find the information here are arrange for enjoyable examining experience without leaving perhaps decrease the knowledge that want to offer to you. The writer involving Big Money Crime: Fraud and Politics in the Savings and Loan Crisis content conveys thinking easily to understand by a lot of people. The printed and e-book are not different in the information but it just different available as it. So , do you continue to thinking Big Money Crime: Fraud and Politics in the Savings and Loan Crisis is not loveable to be your top checklist reading book?

Carla Helton:

This Big Money Crime: Fraud and Politics in the Savings and Loan Crisis are usually reliable for you who want to be described as a successful person, why. The main reason of this Big Money Crime: Fraud and Politics in the Savings and Loan Crisis can be among the great books you must have is giving you more than just simple studying food but feed you actually with information that might be will shock your before knowledge. This book is usually handy, you can bring it everywhere you go and whenever your conditions both in e-book and printed kinds. Beside that this Big Money Crime: Fraud and Politics in the Savings and Loan Crisis forcing you to have an enormous of experience for example rich vocabulary, giving you tryout of critical thinking that could it useful in your day task. So , let's have it and luxuriate in reading.

Calvin Copher:

Do you have something that that suits you such as book? The guide lovers usually prefer to decide on book like comic, brief story and the biggest one is novel. Now, why not hoping Big Money Crime: Fraud and Politics in the Savings and Loan Crisis that give your entertainment preference will be satisfied through reading this book. Reading addiction all over the world can be said as the opportunity for people to know world better then how they react towards the world. It can't be said constantly that reading addiction only for the geeky particular person but for all of you who wants to always be success person. So , for every you who want to start reading as your good habit, you may pick Big Money Crime: Fraud and Politics in the Savings and Loan Crisis become your current starter.