The CIA, Mafia & the Savings and Loan Scandal: The Complex Fraud and Corruption

The Savings and Loan scandal of the 1980s was a financial crisis that involved the collapse of numerous Savings and Loan associations, which were institutions that provided mortgages and other loans to individuals and businesses. The crisis was caused by a combination of factors, including deregulation of the financial industry, speculative investments, and lax oversight by regulatory agencies.

Many Savings and Loan executives and their associates were involved in fraud and corruption, engaging in risky investments and using the institutions' funds for personal gain. The collapse of these institutions led to a government bailout that cost taxpayers billions of dollars.

As for the estimated cost of the government bailout, official estimates suggest that it cost around $130 billion. However, some experts believe that the true cost of the crisis is much higher, possibly reaching one trillion dollars or more when accounting for the long-term economic impact.

Rob Widdowson thoroughly researched the Savings and Loan scandal. He provides a detailed picture of this complex situation of fraud and corruption, including CIA and Mafia roles in the scandal. Rob shows that, contrary to official estimates of the amount of the taxpayer bailout of the banks, the total bill was at least one trillion dollars.