Table of Contents

Abbreviations; Preface; Acknowledgments Theft by Deception: Control Fraud in the S & L Industry; "Competition in Laxity"; The Most Unlikely of Heroes; Keating's Unholy War against the Bank Board; The Texas Control Frauds Enlist Jim Wright; "The Faustian Bargain"; The Miracles, the Massacre, and the Speaker's Fall; M. Danny Wall: "Child of the Senate"; Final Surrender: Wall Takes Up Neville Chamberlain's Umbrella; It's the Things You Do Know, But Aren't So, That Cause Disasters Appendix A: Keating's Plan of Attack on Gray and Reregulation; Appendix B: Hamstringing the Regulator; Appendix C: Get Black ... Kill Him Dead Notes; Names and Terms; References; Index

Promotional Information

An expert insider's account of how financial super predators brought down an industry by massive accounting fraud.

About the Author

William K. Black is Associate Professor of Economics and Law at the University of Missouri-Kansas City. His leadership role in investigating the S&L crisis has been widely praised. He recently helped the World Bank develop anticorruption initiatives and served as an expert for Office of Federal Housing Enterprise Oversight in its enforcement action against Fannie Mae's former senior management.

Reviews

"This is an extraordinary book... No other account gives a complete picture of the control fraud that occurred in the S & L crisis... There is no one else in the whole world who understands so well exactly how these lootings occurred in all their details and how the changes in government regulations and in statutes in the early 1980s caused this spate of looting... This book will be a classic." George A. Akerlof, University of California, Berkeley, winner of the 2001 Nobel Prize for Economics