Martin Lowy

High Rollers (eBook, PDF)

Inside the Savings and Loan Debacle

• Format: PDF

Produktbeschreibung

Lowy avoids the easy answers, like blaming it on fraud and greed, and explains how something of this magnitude could occur under the noses of those who should have protected the taxpayer. Paul M. Horvitz, University of Houston Market forces, not scoundrels, destroyed the savings and loan business. So says Martin Lowy in what is truly an inside look at the savings and loan crisis. Drawing upon his experience as a practicing attorney, bank officer, and savings and loan director, Lowy provides an expert account of the problems that have overwhelmed the nation's savings institutions and their government regulators. High Rollers is the first book on the S&L crisis that provides an analytical groundwork for technical and nontechnical readers--so that both can comprehend what happened. Lowy's clear, readable style allows him to quickly describe the origins of the problems in new market forces and new technologies, and how the problems grew out of control as a result of regulatory mistakes and congressional inaction. Even his discussions of real estate lending practices and accounting issues are, in the words of Professor Horvitz, both clear to the novice and instructive to the professional.

Produktdetails

• Verlag: Bloomsbury Publishing Inc
• Seitenzahl: 336
• Altersempfehlung: ab 7 Jahre
• Erscheinungstermin: 30. Juli 1991
• Englisch
• ISBN-13: 9780313368967
• Artikelnr.: 55984246

Autorenporträt

MARTIN LOWY is a banker and lawyer with 25 years of experience in thrift institution law, management, and regulation. As a lawyer he has represented thrift institutions, bank trade associations, and accounting firms, as well as the New York State Superintendent of Banks and the Federal Deposit Insurance Corporation in failing bank situations. He served as Vice Chairman of Dollar Dry Dock Bank from 1986 to 1989, and currently is Counsel to the New York law firm of Rosenman & Colin.

Inhaltsangabe

Preface Introduction Chronology How It Happened Fixed Rates in a Volatile
World How Insured S&Ls Fail Dick Pratt Figures Out How to Run a Bankrupt
Federal Insurance Fund The False Spring of 1983 Real Estate Lending 101
Permissive Loan Fee Accounting--The Linchpin Mammon Against the God of Home
Ownership Ed Gray Tries to Cope and the World Goes Galloping By The Big
Texas Disaster The Laws Trash the Trash Silverado, Lincoln and CenTrust The
Junk Bond Connection Fraud and Misconduct 101 Wall Street Remakes the
Mortgage Business Politics as Usual--Everybody Fiddles While the FSLIC
Burns Danny Wall and the 1988 Deals FIRREA What Caused How Much of the
Losses? High Rollers The Lessons of the Piece Evaluating Deregulation
Because Banks Are Where the Money Is The Importance of Counting Avoid
Complexity That No One Can Understand Supervision and Enforcement
Regulation Can't Tame Technology or Market Forces Deposit Insurance Reform
The Future of Thrift Institutions Postscript Appendix: Dynamics of a Broke
S&L Selected Bibliography Index