The 1980's Savings & Loan Trillion Dollar Scandal

In our third segment from Pete Brewton's , author of The Mafia, CIA and George Bush, interview on Alternative View. In this portion he discusses the involvement of the demoratic senator from Texas and 1988 vice presidential candidate Loyd Bensten in the Savings & Loan crisis. He also touches on reasons why this huge disaster was not a bigger issue in the 1988 presidential race.
This nearly trillion dollar scandal that is another piece of rotten fruit of the so called Reagan revolution. One that most people forgot about soon after it happened. And because we didn't learn our lesson twenty yaers later we deregulated the mortgage market and look at the hundreds of billions of dollars that mess is now costing us.

"Those that fail to learn from history are doomed to repeat it"

Category:

News & Politics

Tags:

• George
• Bush
• c.i.a.
• mafia
• charles
• keating
• savings
• and
• loan
• palmer
• bank
• banking
• ripoff
• thrift
• alternative
• views
• news
• democrats
• republicans
• politics
• corruption

[chetansingh2006]

lol ur funny

[chetansingh2006]

U will need to go toGreenwich , New York

where the masters of the universe are

[Ciaresayton]

That is like asking if the Earth is round.

[georgetrakl]

Weren't some of the Bush family involved in this?

[Connerdale]

there is an old building in my town that used to be a S&L. it's probably been closed for 20 years or more, cuz of this.

[willdav713]

we should go up there and kick their asses, a drive by even. we have to take the law into our own hands because we live in CorpMerica as of right now.

[butifarra61]

if I am late with my taxes, boy I get plenty of mail about it. Now, the young well educated executives throw away billions and they are fired? I want them in prison. the CEO of bearnstern was fired but ended up with a 25 million apartment in the plaza hotel building? I think he should go to prison and we should take that apartment away to pay for the mess.

[housechores]

Veeeery interesting. The current financial crisis is not a crisis to Bush Jr. And now I know why - it's all part of their - steal from the public business cycle. I warned everyone I knew not to vote for Bush. Now I am warning everyone not to vote for McCain or Obama...type in Ron Paul when you go to vote.

[chucksteak007]

Funny how history is already repeating itself on the eve of (origional Keating five member) John Mccain's run for president. He who also claim to know nothing of how these scandals work. FUCK YOU JOHN MCCAIN PHIL GRAHAM WONT GET AWAY WITH THIS ONE. DIE

[forxtv]

During the 1980's S&L bailout we had the technology to follow the money trail, those in power, however, decided taxpayers would make up the difference. They got away with it through deregulation, made so easy by NeoConArtists in the administration, it's now a habit.