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Other People's Houses: How Decades of Bailouts, Captive Regulators, and Toxic Bankers Made Home Mortgages a Thrilling Business

Other People

by Jennifer Taub,
The Huffington Post, May 20, 2014

Following the savings and loan crisis of 1987, Secretary of the Treasury Nicholas announced that the federal government's response had been guided by two watchwords: "Never again." As he signed the Financial Institutions Reform, Recovery and Enforcement Act, President George H. W. Bush promised that the legislation would "safeguard and stabilize America's financial system and put in place permanent reforms so these problems will never happen again."

 

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