The Savings and Loan scandal is the largest theft in the history of the world. Deregulation eased restrictions so much that S&L owners could lend themselves money. The Garn Institute of Finance, named after Senator Jake Garn, co-authored the deregulation of the industry and received $2.2 million from industry executives. Neil Bush, George Bush's son, never served time in jail for his part in running an S&L into the ground. Represenative Fernard St. Germain, …
showed first 75 words of 331 total

showed last 75 words of 331 total
…of delaying until after the 1988 elections, the cost might have been only $20 billion. With the money lost from the S&L scandals, the government could have provided prenatal care for every American child for the next 2,300 years. With the money lost from the S&L scandals, the government could have purchased 5 million average homes. The authors of "Inside Job", a book about the S&L scandal, found criminal activity at every S&L they investigated.