This is a gripping and essential insider account of the 1980s savings and loan crisis, where former Federal Home Loan Bank Board chief economist James R. Barth challenges the fraud-and-deregulation narrative, exposing how federal deposit insurance, outdated regulation, and flawed supervision fueled a taxpayer-funded financial disaster, while charting a bold path to reform banking, protect depositors, and safeguard the economy.
In this volume, the author argues that federal deposit insurance itself is largely to blame for the savings and loans disaster of the 1980s.