Bailout An Insider's Account of Bank Failures and Rescues

During the high interest times in the 1970's and 1980's, the banks and the savings and loan associations were under heavy financial pressure. Hundreds of them failed. The Home Loan Bank Board permitted the savings and loan associations to treat goodwill as capital, thereby allowing them to remain open and to build up enormous losses that eventually cost the taxpayers billions of dollars. The Federal Deposit Insurance Corporation took a different approach. It closed the banks or sold them, all at no cost to the taxpayers. Bailout is the engrossing story of how the FDIC handled four of these failures. Book jacket.Sprague, Irvine H. is the author of 'Bailout An Insider's Account of Bank Failures and Rescues' with ISBN 9781587980176 and ISBN 1587980177.