> Martin Mayer's book on the S @ L crisis is excellent
> reading for students of the political process. In his
> account, the damage could have been limited to about
> $60-75 bn, if Congress had had the courage to admit it
> had made a mistake in loosening regulations on S&Ls.
> In the present situation, it seems to be the press
> that lacks courage (or information) to admit the
> dimensions of the problem. The underlying issue for
> both politicians and press is always how much bad
> information can the public take without losing faith
> in government institutions altogether. Or, to put it
> the other way, the first priority for government and
> media always to give the impression that "we are in
> control of things", not actually taking control.
>
> BobW
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Also a must read is William Black's "The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry"
<http://www.utexas.edu/utpress/books/blabes.html>