Uncovering the Illinois Branch of the Savings and Loan Scandal / Tim Anderson ; interviewed by Dennis Bernstein.

Tim Anderson, Founder of a Bank Operations Consulting firm in Illinois, discusses how he became aware of the Savings and Loan crisis in his State. It began when Libertyville Federal collapsed in an unusal fashion. Anderson's investigation led to the Federal Home Loan Bank Board in Chicago and the Garnes-St. Germaine Act which deregulated the Savings and Loans in 1982. Although FHLBB Chair Ed Gray predicted the coming crisis, the Reagan administration blocked knowledge of the extent of its impact. Illinois has over 100 failed Savings and Loans in the 1980's, and Anderson suggests that these failure might be connected to Congressmen who sit on various Executive Boards. Anderson uses events in the Illinois 10th District to demonstrate his assertions of government collusion in the Savings and Loan crisis. He concludes by stating that the real victims of this fiasco are the children dependent upon the social services which have been slashed to fund the bailout.|UNCOVERING THE ILLINOIS BRANCH OF THE SAVINGS AND LOAN SCANDAL / Tim Anderson| interviewed by Dennis Bernstein. - Tim Anderson, Founder of a Bank Operations Consulting firm in Illinois, discusses how he became aware of the Savings and Loan crisis in his State. It began when Libertyville Federal collapsed in an unusal fashion. Anderson's investigation led to the Federal Home Loan Bank Board in Chicago and the Garnes-St. Germaine Act which deregulated the Savings and Loans in 1982. Although FHLBB Chair Ed Gray predicted the coming crisis, the Reagan administration blocked knowledge of the extent of its impact. Illinois has over 100 failed Savings and Loans in the 1980's, and Anderson suggests that these failure might be connected to Congressmen who sit on various Executive Boards. Anderson uses events in the Illinois 10th District to demonstrate his assertions of government collusion in the Savings and Loan crisis. He concludes by stating that the real victims of this fiasco are the children dependent upon the social services which have been slashed to fund the bailout. - RECORDED: KPFK, 9 Oct. 1992.