Inside Job: The Looting of America's Savings and Loans

Stephen Pizzo, Author, Paul Muolo, With, Mary Fricker, With McGraw-Hill Companies $19.95 (443p) ISBN 978-0-07-050230-7
Bound to be controversial, this impressive expose by three journalists charges that the S & L industry was taken over by a national network of Mafiosi, corrupt thrift officers, appraisers, auditors and arms- and drug-dealers laundering money, all of whom exploited opportunities provided by the 1982 deregulation. Fortified with unlimited broker deposits, the network plundered hundreds of federally insured thrifts. The authors discount the role of high oil prices, the Sunbelt recession and other factors as catalysts in the S & L disaster. Excepting Federal Home Loan Bank Board chairman Erwin Gray, who fought to limit deposit brokerage, Pizzo, Fricker and Muolo accuse the Justice Department, the courts and other federal and state agencies for ignoring or covering up four years of fraud. They also maintain that the guilty have not been punished and little of the loot has been recovered out of official fear of revelation. (Oct . )
Reviewed on: 09/01/1989
Release date: 09/01/1989
Paperback - 578 pages - 978-0-06-098600-1
Analog Audio Cassette - 978-1-55994-413-7
Ebook - 592 pages - 978-1-4976-3381-0
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