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Kathleen Day
W. W. Norton & Company

S & L Hell: The People and the Politics Behind the $1 Trillion Savings and Loan Scandal

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AuthorKathleen Day
PublisherW. W. Norton & Company
PublishedNov 12 2008
Book FormatPaperback
ISBN-139780393337228
Dimensions9 X 6 X 0.93 inches
Weight 1.35 pounds
BISAC
CategoriesBusiness & Economics > Finance - General
LanguageEnglish

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Book Description

The most remarkable thing about the collapse of the savings and loan industry is that so many of the major participants--the regulators, politicians, and S&L operators themselves--chose to do nothing as they watched problems mount and taxpayer liabilities grow. That choice was dictated by a variety of motives: greed, political self-interest, and even (sometimes) misguided good intentions. Whatever the motives, this collective interest in hiding the debacle made it certain that the industry's final fall would come with an enormous bang, one that would force administrations that professed a free market philosophy essentially to nationalize a majority of the nation's thrifts. As a result, the industry in many respects became one of the best examples of socialism in the U.S. economy.

Author Bio

Kathleen Day joined the Johns Hopkins Carey Business School in 2013. A business author and journalist, she is a full-time lecturer with a specialty in financial crises and how they spread; in corporate governance; and in business communication, particularly during crises.

Ms. Day previously taught at Georgetown University's graduate program in real estate, where she created an ethics course based on the series of financial crises in the United States over the last several decades, from the Great Recession through the 1980s banking crisis and the mortgage meltdown of 2007. In addition to financial crises, her interests include the related topics of corporate governance, particularly the history of the corporate form; government regulation and oversight; lobbying and campaign finance; ethics; crisis communication; and the application of artificial intelligence in finance.

She recently joined an initiative of a nonprofit group and several major corporations to raise the profile in the media and among policy makers of women, especially minority women, who are experts in business and technology.

Source: Johns Hopkins University

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