On October 15, 1982 Ronald Reagan invited 200 people to witness the signing of the Garn-St.Germain Act, which canceled much of the S & L regulation of the last 50 years. "All in all, I think we've hit the jackpot," he told his appreciative audience. Ten years later Charles Keating is in jail, the people he robbed will never recover their money, and the "Keating Five" (Senators Cranston, DeConcini, Glenn, McCain, and Riegle) are still making excuses. There's every indication that the next generation will pay heavily for the 1980s.
More quality financial reporting like this is needed in America.
White-collar crime and violations of the public trust may not provide the
sort of footage that improves ratings on the evening news, but they do more
than their share of the damage. Use a pen, go to jail.
ISBN 0-07-050230-7
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