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The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&l Industry
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The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&l Industry

4.11  ·  Rating details ·  111 ratings  ·  14 reviews
An expert insider's account of how financial super predators brought down an industry by massive accounting fraud.
Hardcover, 351 pages
Published April 1st 2005 by University of Texas Press (first published December 6th 1995)
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David
Feb 06, 2012 rated it liked it
Shelves: read-econbiz
An hour-long interview with the author about this book is available here.

An important book, but damned difficult to read. It probably needs to be studied with an guiding expert in white-collar criminality rather than read for the pleasure of being informed. There are a bewildering array of abbreviations and names, which is understandable. The helpful index of abbreviations is in the front of the book; the helpful index of names is in the back of the book – this is somewhat more difficult to unde
...more
Jeremiah
Feb 07, 2011 rated it really liked it
Well done, highlights what really happened in the S&L crisis of the 80's. And how both democrats and republicans covered up, blocked and tried to prevent anything that would stop people like Don Dixon and Charles Keating.
Charles Allan
Jan 15, 2013 rated it really liked it
Shelves: economics
Today's book is William Black's The Best Way to Rob a Bank is To Own One: How Corporate Executives and Politicians Looted the S & L Industry.

The savings and loan crisis of the late 1980s and 1990s has now passed into history but seems a precursor to today's crisis of financialization. Investigator William Black is a favorite of many observers for his tough, common sense insights and refusal to kowtow to conventional wisdom and platitudes.

The savings and loan crisis features many of the famil
...more
The Pfaeffle Journal (Diane)
I vaguely remember the S&L crisis of the 80's. The Keating 5 were, Alan Cranston (D-Calif), Dennis CeConcini (D-Ariz), John Glenn (D-Ohio), John McCain (R-Ariz) and Donal W. Riegle (D-Mich.) were accused of covering for Charles Keating, Chairman of the Lincoln Saving and Loan Association when the Federal Home Loan Bank Board tried to investigate the S&L. Today, all I remember is that that criminal John McCain is still in office.

William Black was a bank regulator at the time and a central
...more
Tina
Sep 02, 2012 rated it it was amazing
Shelves: nonfiction
Absolutely needed to be read by every thinking person. The economic and financial crisis of today will change our lives forever, and this book adds personal experience and insider information to the well-known aspects of the banking industry misbehavior.
Aidan Moloney
Mar 27, 2018 rated it liked it
Bar none this provides the most thorough analysis of the S&L debacle in the 1980's and also gives insight into how to control & financial fraud destroyed directly and indirectly the economy, jobs, and pensions etc. It provides simple recommendations at the end of what wasn't learned and how to prevent and detect fraud. I love listening to Bill on the Real News Network where he is a regular contributor. This guy should be head of the SEC.
Anthony Roberts
Feb 22, 2017 rated it really liked it
A little bit convoluted to read, but overall very interesting and informative.
Alkek Library
Jan 07, 2013 rated it really liked it
Shelves: economics
Today's book is William Black's The Best Way to Rob a Bank is To Own One: How Corporate Executives and Politicians Looted the S & L Industry.

The savings and loan crisis of the late 1980s and 1990s has now passed into history but seems a precursor to today's crisis of financialization. Investigator William Black is a favorite of many observers for his tough, common sense insights and refusal to kowtow to conventional wisdom and platitudes.

The savings and loan crisis features many of the famil
...more
Hbombme
Nov 20, 2016 rated it really liked it
Interesting case study of a regulator nearly being taken over by those who it is supposed to regulate. Thank God for some honest and hard-working people sticking by their guns at the regulatory agencies that were getting pummeled by criminals, ideologues, lobbyists, and corrupt or misguided politicians. The book is a bit dense and spares no details, so at times seems to read like a lecture... but the lessons and history are valuable enough to overcome those stylistic shortcomings.

My big takeawa
...more
Karen
Nov 04, 2016 rated it it was amazing
SO IMPORTANT for everyone to read who still isn't sure the U.S.A. is now run by a deeply corrupt bunch of insiders for their own benefit at the expense of everyone else.

Makes it clear that (1) preventing this kind of fraud is NOT rocket science, and (2) nonetheless, the only lessons our leaders learned from the Savings & Loan crisis were how to help each other get away with fraud on a grand scale - the mortgage crisis - WITHOUT any risk of being thrown in jail or forced to give up a penny of
...more
YNOT
Jan 21, 2011 rated it really liked it
wish i read this when i furst saw wm k. black...
reading fum it on c-span back in '05...

i had been x-tremely skeptical of housing bubble
( PfLiP This haus was PRiMe PRoPaGaNda i sed then )
in correlation to war economy / foreign debts...
nassim taleb's 'bLaCk SWaN' in early '07...
was, phor me, an exposition on...
'market analysis psycho-babble'...
but /w/ wm. k black's book...
the 2 ARe complimentary / a road-map...

on th' down-side, wm. k. black's book is...
kinda hard t' follow because it iS...
ALSo EX
...more
Juston Fenton
Nov 28, 2016 rated it it was amazing
Shelves: 2016-reads
Control fraud is endemic throughout all levels of the United States legislature and judiciary.

Despite Dr. Black's fantastic book and well documented account of the mechanics of the Savings and Loans scandal, an even greater and more destructive Control Fraud was able to occur resulting in the 2007/2008 Global Financial Crisis and subsequent European Banking Crisis.

He mihi nui tenei ki Ta Takuta Black. Tena ra koe e pa.
Rogier
Dec 05, 2014 rated it it was amazing
Fraud distorts a system, and in the economy it undermines legitimate business. The growing tsunami of s & l fraud made intervention increasingly necessary, simply to limit the damage. like Madoff, the fraudsters are often hoisted on their own petard, when their runaway success begins to threaten the very system they are defrauding.
Robert
Aug 22, 2012 rated it it was amazing
Shelves: favorites
An excellent book about the S&L frauds of the 1980s. What I find particularly useful is Black's treatment of irrationality on the part of many fellow regulators and government officials. As he puts it, we are disinclined to believe well-respected people are lying to us, and it is important to emphasize how many people continued to parrot the propaganda of frauds even after they were exposed.
John Picha
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Nov 16, 2012
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Tom Skelton
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Apr 15, 2012
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