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The Savings and Loan Crisis: A Deep Dive into Deregulation and its Consequences
What is stranger than fiction? The stories of worldwide corruption.
In this podcast series, co-hosts Tom Fox, the Voice of Compliance and Mike DeBernardis, partner at Hughes Hubbard, discuss some of the most audacious corruption cases in anti-corruption enforcement. More importantly, they will discuss the lessons learned on what your organization can do to prevent running afoul of international anti-bribery laws.
In this episode of Season 2, Tom and Mike take a deep dive into the Savings and Loan (S&L) crisis of the 1980s.
This scandal, which cost the U.S. between $150 and $200 billion, serves as a powerful case study on the consequences of deregulation. Factors like legislative changes, poor management, fraud, and economic pressures all contributed to the collapse of over a thousand S&Ls. Notable cases, such as the Lincoln Savings and Loan scandal involving Charles Keating, highlight the systemic issues that plagued the industry. The episode emphasizes the importance of regulatory oversight, ethical leadership, and strong internal controls to prevent future financial crises.
Key Highlights:
Resources:
Mike DeBernardis on Linkedin
HughesHubbardReed
Tom Fox
YouTube
Texas Tax rate at 80% of 8.25%
View all episodes
By Thomas FoxWhat is stranger than fiction? The stories of worldwide corruption.
In this podcast series, co-hosts Tom Fox, the Voice of Compliance and Mike DeBernardis, partner at Hughes Hubbard, discuss some of the most audacious corruption cases in anti-corruption enforcement. More importantly, they will discuss the lessons learned on what your organization can do to prevent running afoul of international anti-bribery laws.
In this episode of Season 2, Tom and Mike take a deep dive into the Savings and Loan (S&L) crisis of the 1980s.
This scandal, which cost the U.S. between $150 and $200 billion, serves as a powerful case study on the consequences of deregulation. Factors like legislative changes, poor management, fraud, and economic pressures all contributed to the collapse of over a thousand S&Ls. Notable cases, such as the Lincoln Savings and Loan scandal involving Charles Keating, highlight the systemic issues that plagued the industry. The episode emphasizes the importance of regulatory oversight, ethical leadership, and strong internal controls to prevent future financial crises.
Key Highlights:
Resources:
Mike DeBernardis on Linkedin
HughesHubbardReed
Tom Fox
YouTube
Texas Tax rate at 80% of 8.25%