<offtopic> G'day all - 1st, Happy Thanksgiving to all my cyberfriends here!
[Re: S&L,] 1st, Larry, an advance apology if I am rehashing stuff you have already covered, as I have not followed every bit of the exchange. Your point of "no depositors lost money" might have ended up to be a murky counterfactual proposition had the RTC not stepped in. A colleague of mine at the time, who was very good in accumulating wealth as I was good in losing it [still am <sg>,] was tied up with one of his accounts for a while - especially when he had more than 100K in a single bank.
Having said that, I do not think anyone likes the idea of tax payers subsidizing mess and greed from people like Charles Keatings. However, I'd like to point out there are more insidious situations out there. The S&L situation did take the wind out of the US economy and Mr Seidman had to perform surgeries. And yes, many vulture capitalists probably had profited for their predecessors' greed and foolishness [on the tax payers' back,] but I submit to you the following example:
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best, Bosco |
