Congress, Regulators, RAP, while the Savings and Loan Debacle
Legislative and regulatory policies prolonged and in the end heightened the issues regarding the cost cost savings and loan industry. The “Alice in Wonderland” regulatory accounting axioms (RAP) employed by the regulators contributed to your tragedy.
It’s estimated that the expense of the cost cost savings and loan debacle shall price taxpayers $183 million plus interest. Actions taken by Congress and regulators, in addition to regulatory accounting axioms (RAP), have now been commonly cited as major contributing facets for having “misled” and “masked” the rate and level of this deterioration that […] Read more