In class this week we're going to discuss the Savings & Loan debacle as a prelude to our discussion on our current market mess. For those of you who don't have the patience, or money, to go through and read William K. Black's The Best Way to Rob a Bank is to Own One (which discusses the S&L debacle, and Black's role as a regulator) take a look at this piece from The Nation, which can also be accessed here at Micha L. Sifry's site under The Looting Decade: S&Ls, Big Banks, and Other Triumphs of Capitalism.
It's 50 pages long (32 pages in the magazine), but it will help you understand why we got screwed back in the 1980s and 1990s, why we're getting screwed now, and why, in spite of what conservatives like to claim, there is no such a thing as a free market.
- Mark
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