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postatomic

(1,771 posts)

19. Westword did an excellent piece on Silverado

Reply to Baitball Blogger (Original post)

Mon Oct 28, 2013, 04:09 PM

Oct 2013

How money was being taken out of the S&L and funneled to CIA and 'black ops'. The real tragedy was how the S&L bailout was handled. Assets were sold for pennies on the dollar. The people who raped the S&Ls just turned around and bought S&L assets for next to nothing and they made another fortune.

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Who remembers the 80s S&L crisis? [View all] Baitball Blogger Oct 2013 OP

I was young then. Quantess Oct 2013 #1

Something about all this stinks to high heaven. Baitball Blogger Oct 2013 #2

Junk bonds. Michael Milken and junk bonds. Quantess Oct 2013 #5

These financial capers may be what Republicans refer to as Trickle Down. Baitball Blogger Oct 2013 #6

The S&L crisis was a big deal. A lot of innocent people lost a lot of money. AndyA Oct 2013 #3

I do remember one comment made about that era. Baitball Blogger Oct 2013 #8

For profit corporations cannot be trusted to do the right thing AndyA Oct 2013 #35

Not to mention that there are so many corrupt bastards out there that they can Baitball Blogger Oct 2013 #36

I thought 80s Saturday Night Live was great NoOneMan Oct 2013 #4

Would that be the S&L mess madamesilverspurs Oct 2013 #7

I believe that is the mess referred to, yes. navarth Oct 2013 #9

I know of one instance where an attorney for a lawfirm that was involved in that mess, Baitball Blogger Oct 2013 #11

Neil Bush wasn't exactly "busted" for Silverado Art_from_Ark Oct 2013 #33

All three boil down to one single cause - deregulation. Geoff R. Casavant Oct 2013 #10

So, the two elements come together. Baitball Blogger Oct 2013 #13

Reagan who? reddread Oct 2013 #14

Their slogan should be: "Let us Deregulate so we can steal from you stupid fools." Baitball Blogger Oct 2013 #15

Back in the day there were 3 banks...Home, American and Great Western...one local morgage broker libdem4life Oct 2013 #12

Google "Penn Square Bank" Doc_Technical Oct 2013 #16

Penn Square was bad energy loans. nt DURHAM D Oct 2013 #22

I remember it. kentauros Oct 2013 #17

Believe it or not, one of my patients was the principal PCIntern Oct 2013 #18

Westword did an excellent piece on Silverado postatomic Oct 2013 #19

I don't understand why the full story of that pilfering was never told. Baitball Blogger Oct 2013 #21

Because some of the most powerful people politics and business made a killing pulling us in. Egalitarian Thug Oct 2013 #25

I didn't want to be the one to say it. Baitball Blogger Oct 2013 #28

I remember hearing a lot about Charles Keating and the Keating 5. n/t cynatnite Oct 2013 #20

I had a front row seat for the S&L crisis econoclast Oct 2013 #23

Thanks for the synopsis! Baitball Blogger Oct 2013 #29

Like it was yesterday, grand theft and the Bush Brood gets away with Rex Oct 2013 #24

Look up Bert Lance and Savings and Loan Deregulation legcramp Oct 2013 #26

They made Bad Business Loans to their Cronies FreakinDJ Oct 2013 #27

S&L Crisis was not due to ponzi scheme Gothmog Oct 2013 #30

Econoclast in post 23 also corrected the misunderstanding. Baitball Blogger Oct 2013 #31

John McCain Link Speed Oct 2013 #32

my parents made close to a hundred thousand during that debacle. madrchsod Oct 2013 #34