Big money crime : fraud and politics in the savings and loan crisis / Kitty Calavita, Henry N. Pontell, Robert H. Tillman.

By:

Calavita, Kitty

Contributor(s):

Material type: Text

TextPublication details: Berkeley : University of California Press, �1997.Description: 1 online resource (xvii, 263 pages)Content type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

9780520923232
0520923235
0585043698
9780585043692

Subject(s):

Genre/Form:

Electronic books.

Additional physical formats: Print version:: Big money crime.DDC classification:

364.16/8 21

LOC classification:

HG2151 .C35 1997eb

Online resources:

Click here to access online

Summary: How did a handful of savings and loan executives bring about one of the worst financial disasters of the twentieth century? Examining the S & L crisis as a series of white-collar crimes unparalleled in the history of the United States, Kitty Calavita, Henry Pontell, and Robert Tillman debunk a number of the myths that permeate popular understanding of this multi-billion-dollar disaster. Tempted by the insurance net and federal deregulation aimed at encouraging growth in the banking industry, S & L leaders deliberately defrauded their depositors, stole from their own corporations, and speculated on high-risk ventures with government-insured capital. What the government ultimately chalked up to failed business investments and a sluggish economy, Calavita, Pontell, and Tillman identify as a new type of white-collar crime, committed deliberately against S & L customers and the government. Using material gathered in over one hundred interviews with government officials and recently declassified documents, Calavita, Pontell, and Tillman draw disturbing conclusions about the deliberate nature of the crimes, the political collusion they involved, and the leniency of the justice system in dealing with "big money" criminals.

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Includes bibliographical references (pages 229-249) and index.

Print version record.

How did a handful of savings and loan executives bring about one of the worst financial disasters of the twentieth century? Examining the S & L crisis as a series of white-collar crimes unparalleled in the history of the United States, Kitty Calavita, Henry Pontell, and Robert Tillman debunk a number of the myths that permeate popular understanding of this multi-billion-dollar disaster. Tempted by the insurance net and federal deregulation aimed at encouraging growth in the banking industry, S & L leaders deliberately defrauded their depositors, stole from their own corporations, and speculated on high-risk ventures with government-insured capital. What the government ultimately chalked up to failed business investments and a sluggish economy, Calavita, Pontell, and Tillman identify as a new type of white-collar crime, committed deliberately against S & L customers and the government. Using material gathered in over one hundred interviews with government officials and recently declassified documents, Calavita, Pontell, and Tillman draw disturbing conclusions about the deliberate nature of the crimes, the political collusion they involved, and the leniency of the justice system in dealing with "big money" criminals.

English.

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