Other People's Money: The Inside Story of the S&L Mess

Once the repository of millions of small savers' wealth, the treasury for their dreams of home ownership and their children's education, the nation's savings and loan industry is today bankrupt -- the result of bad luck, worse judgment, and flagrant criminal greed. Salvaging the wreckage is going to require the biggest federal bailout in American history, a massive rescue effort that could wind up costing the taxpayers well over $200 billion. In this book, the author reveals in riveting detail the inside story of how we got into this mess and how we can get out of it.