Source:Frontline/Center for Investigative Reporting
Date:October 22, 1991
"CIR's Frontline documentary on the savings-and-loan bailout calls this the biggest U.S. financial scandal ever. 'This is the mother of all government mistakes,' says William Seidman, former Resolution Trust Corporation, the federal bailout agency charged with managing and selling off failed S&L assets worth hundreds of billions in taxpayer's dollars. This CIR investigaiton shows how and why the government has bungled the bailout, telling the inside story of mismanagement and politics that has doubled the projected cost of the bailout, which is now estimated to reach $700 billion or more. "