Which political family was directly involved in the Savings and Loan scandal?

Question

In what manner were they involved?

MEL!!! {hug}

FDIC: summary at bottom of link

"The savings and loan crisis of the 1980s and early 1990s produced the greatest collapse of U.S. financial institutions since the Great Depression. Over the 1986–1995 period, 1,043 thrifts with total assets of over $500 billion failed."
http://www.fdic.gov/bank/analytical/banking/2000dec/brv13n2_2.pdf

The Bush family and the S&L Scandal
http://www.rationalrevolution.net/war/bush_family_and_the_s.htm
(with family photo)

Answer 1

Probably Kennedy or Soros. Am I the only one who was rolling on the floor listening to Fat Teddy complaining about a cover-up? Hahahahahahahahahahahahahahahah.

Answer 2

Yeah, well, it's interesting about the savings and loan crisis, because there was a lot of irresponsibility in that. One of the things that happened to some of the people in that incident was, we had tax reform in '86, and we basically came down to three rates: 31, 28, and 15. As part of that reform, deductibility rules for certain types of real estate investments were changed, and people had ordered their lives according to the age-old tax code, and they changed it right in the middle of some people's financing real estate projects and so forth, and it just exposed the S&Ls and the lenders to these new rules, and that was a contributing factor to it, too, and it was a tradeoff because it was lower the rates and then get rid of the deductions. I remember taking calls on this program. People were livid that their credit card interest rate was no longer going to be deductible. I said, "Don't you understand, you don't want to be paying the minimum payment on these credit cards, even if you can deduct it?" But they thought that they were playing games and getting away with cheating the government by deducting their interest. Well, all that went away, and it happened in real estate, too, leading to a portion of the S&L crisis. Okay, so you don't think these subprime people should be bailed out?

Answer 3

A lib asking a question he already believes he knows the answer too? No Way. Obviously Bush is to blame just like the fires and just like Katrina. It's all his fault. How about blaming the borrowers? Last time I checked people should know what they can afford and what they can't. They asked for the money and the banks said ok but, you need to pay this. Seems cut and dry to me. NO bank just walked out and gave money to someone who didn't request it.

Answer 4

All of them. All knowledge is interrelated. The term "Political family" implies breech of ethics to me.

Answer 5

I have no idea Chi. i have not heard that at all here. Very interesting. Good question.

Answer 6

that would be the bush family!