Blue-Collar Fraud - The Hidden Story of Financial Criminals

Pasquale De Marco

Summary

In the annals of financial debacles, the Savings and Loan (S&L) crisis of the 1980s stands as a monument to greed, corruption, and regulatory failure. This book delves into the intricate web of fraud, collusion, and political malfeasance that led to the collapse of hundreds of S&Ls, costing American taxpayers billions of dollars and shattering trust in the financial system.

At the heart of the S&L crisis was Charles Keating, a charismatic and cunning businessman who transformed Lincoln Savings and Loan into a vehicle for his personal gain. Through aggressive lending practices and deceptive marketing schemes, Keating lured investors with promises of high returns, while concealing the inherent risks involved.

As Keating's fraudulent activities spiraled out of control, a network of corrupt politicians and regulators looked the other way, allowing the crisis to fester and grow. This unholy alliance between political power and financial greed created an environment ripe for abuse, where the interests of ordinary Americans were callously disregarded.

The consequences of this collusion were catastrophic: the collapse of hundreds of S&Ls, the loss of billions of taxpayer dollars, and the erosion of trust in the financial system. The S&L crisis serves as a cautionary tale, demonstrating the dire ramifications of unbridled greed and regulatory negligence.

This book meticulously reconstructs the events leading up to the S&L crisis, exposing the hidden machinations of fraudsters and the failures of regulators. It shines a light on the dark corners of the financial world, revealing the devastating impact of financial misconduct on the lives of ordinary people.

Through a gripping narrative and meticulous research, this book offers a comprehensive account of one of the most audacious financial crimes in American history. It is a must-read for anyone interested in finance, history, or the consequences of greed and corruption.

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Available since: 06/02/2025.

Print length: 162 pages.

Business & Economics

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