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Daisy Chain

James O'Shea

13 ratings by Goodreads
ISBN 10: 0671733036 / ISBN 13: 9780671733032
Published by Pocket Books, 1991
Used Condition: Very Good Hardcover
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Bibliographic Details

Title: Daisy Chain

Publisher: Pocket Books

Publication Date: 1991

Binding: Hardcover

Book Condition:Very Good

About this title

Synopsis:

An account of the decline and fall of a Texas savings and loan institution reveals corruption, indiscretion, and unbridled greed, and offers a perspective of the nationwide S & L scandal

From Publishers Weekly:

The extent of the S & L disaster--now estimated at $500 billion--continues to grow in impact as the press discloses fresh examples of greed, fraud and incompetence involving accounts, appraisers, lawyers, and bank and government officials, a few of whom must now face televised Senate Ethics Committee investigations. An editor at the Chicago Tribune , O'Shea here offers an astute appraisal of the political, economic and social climate which fostered the thrifts crisis. The author focuses on entrepreneur Donald Dixon's purchase of a seemingly sound, federally insured Vernon, Tex., S & L which--thanks in part to Reagan-era deregulations--allowed Dixon to fund reckless ventures and a lavish lifestyle, despite $3 billion invested in delinquent loans. So huge was the thrift's disarray and fraud by 1986, when federal officials seized it, that O'Shea contends the bank should have been closed, not salvaged. Major ad/promo; author tour.
Copyright 1991 Reed Business Information, Inc.

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