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Other People's Money: The Inside Story of the S&L Mess, by Paul Zane Pilzer
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- Sales Rank: #1604322 in Books
- Published on: 1989-10
- Original language: English
- Number of items: 1
- Binding: Hardcover
- 269 pages
From Publishers Weekly
In their hard-hitting, credible expose of the government and private mismanagement and fraud that ushered in the national S&L disaster in the mid-'80s, real estate developer and New York University School of Business professor Pilzer and Deitz, business editor of the Dallas Times Herald , address the damage this calamity has done to the trust Americans place in financial institutions and the merit of saving money. First offering a concise history of the savings industry in the U.S., the authors go on to deplore its deregulation in the 1970s and '80s, arguing that this led to a virtually unlimited flow of brokered funds and risky investments by incompetents and crooks. Accusing the Federal Home Loan Bank Board of an extensive cover-up of such shenanigans, Pilzer and Deitz sensibly call for reform of the savings deposit system, repayment of stolen savings to investors and incentives to restore our confidence in the virtue of thrift.
Copyright 1989 Reed Business Information, Inc.
From Library Journal
Along with Dietz, the business editor of the Dallas Times Herald, Pilzer, a partner in a real estate syndicate, provides a readable and comprehensive history of the savings and loan industry from its roots in ancient times to the present, with a focus on the debacle that now plagues it. Stephen Pizzo's Inside Job ( LJ 9/15/89) provides much of the same general information; this account includes more history of the industry. It focuses more on Texas, while the earlier book is California oriented. The books complement each other as a result, providing a wealth of details on the role of the federal government and legislation on this problem. A review of another book on the savings and loan crisis, James Adams's The Big Fix , will appear in our next issue.
- Ed. -- Steven J. Mayover, Free Lib. of Philadelphia
Copyright 1989 Reed Business Information, Inc.
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