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

Pilzer, Paul Zane

Hardcover

ISBN 10: 067168101X ISBN 13: 9780671681012

Publisher: Simon & Schuster, 1989

Synopsis

A insider's account of the bankruptcy crisis facing the nation's $900-billion savings-and-loan industry analyzes the causes and effects of the solvency dilemma and suggests how the financial decline can be reversed

About this title

From Publishers Weekly:

In their hard-hitting, credible expose of the government and private mismanagement and fraud that ushered in the national S&L disaster in the mid-'80s, real estate developer and New York University School of Business professor Pilzer and Deitz, business editor of the Dallas Times Herald , address the damage this calamity has done to the trust Americans place in financial institutions and the merit of saving money. First offering a concise history of the savings industry in the U.S., the authors go on to deplore its deregulation in the 1970s and '80s, arguing that this led to a virtually unlimited flow of brokered funds and risky investments by incompetents and crooks. Accusing the Federal Home Loan Bank Board of an extensive cover-up of such shenanigans, Pilzer and Deitz sensibly call for reform of the savings deposit system, repayment of stolen savings to investors and incentives to restore our confidence in the virtue of thrift.
Copyright 1989 Reed Business Information, Inc.

From Library Journal:

Along with Dietz, the business editor of the Dallas Times Herald, Pilzer, a partner in a real estate syndicate, provides a readable and comprehensive history of the savings and loan industry from its roots in ancient times to the present, with a focus on the debacle that now plagues it. Stephen Pizzo's Inside Job ( LJ 9/15/89) provides much of the same general information; this account includes more history of the industry. It focuses more on Texas, while the earlier book is California oriented. The books complement each other as a result, providing a wealth of details on the role of the federal government and legislation on this problem. A review of another book on the savings and loan crisis, James Adams's The Big Fix , will appear in our next issue.
- Ed. -- Steven J. Mayover, Free Lib. of Philadelphia
Copyright 1989 Reed Business Information, Inc.

About this edition

• Publisher: Simon & Schuster
• Publication date: 1989
• ISBN 10: 067168101X
• ISBN 13: 9780671681012
• Binding: Hardcover
• Edition number: 1
• Number of pages: 269