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An Inside Job: The Looting of American Savings and Loans.

An Inside Job: The Looting of American Savings and Loans

Authors: Stephen Pizzo, Mary Fricker, and Paul Muolo Publisher: McGraw-Hill Publishing Company, 11 West 19th Street, New York, NY 10011; 1990, hardback: $19.95 Reviewer: Ted P. Barron, Vice President of Security Administration for Wells Fargo Bank in San Francisco Inside Job is a book that was three years in the making. The book is clear and concise, spanning the first phase of savings and loan deregulation in the early 1980s to the present crisis.

It is not a stodgy analysis of bank regulations and economic theory but a look at all the players in one of the greatest scandals of this century. Inside Job is about fraud, fraud that has decimated the savings and loan industry and threatens the stability of all other financial institutions.

While there are those that would have you believe the worst is over, future indicators are not good. Thrifts under government supervision continue to lose billions of dollars each year. A staggering cost of $500 billion, along with thousands of hours for regulators, courts, attorneys, and federal and local investigators, will be lost.

This book is unusual in that the authors display a thorough understanding of the problems facing financial institutions and offer remedies to curtail abuses in the industry. As a security professional, you will be amazed at how pervasive the problems are. If ever there was a hammer to nail the lid on white-collar crime, this book is it.
COPYRIGHT 1991 American Society for Industrial Security
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Author:Barron, Ted P.
Publication:Security Management
Article Type:Book Review
Date:Aug 1, 1991
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