Rogers weve had 29yearolds making 1 million a year, expecting to make 2 million the year after that. Diana ferry but if youve got plastic money, theres Nothing Holding you back. History will prove the bakkers were honest people. Reporter Insider Trading could become wall streets watergate. Pauley what do we call greed the day before an indictment . Im afraid recently, weve called it success. Robinson the u. S. Economy, which used to be the envy of the world, is in the most serious trouble since the Great Depression. Inflation is rising while our standard of living is declining. Thomas there was tremendous inflation and not much growth. The country was not in a Great Depression in 1980, but the United States was in the dumps. Dobyns on wall street, it was cold, gray, wet, and miserable. There was no comfort to be found outside. And for investors, there was not much inside, either. The tickers carried almost nothing but bad news. Mclean wed come off a terrible decade for investing. Peopl
the u.s. economy, which used to be the envy of the world is in the most serious trouble since the great depression. inflation is rising, standard of living is declining. tremendous inflation and not much growth. the country was not in a great depression but the united states is in the dumps. wall street was cold, gray, wet, and miserable. there was no comfort to be found outside for investors there was not much inside. the tickers carried almost nothing but bad news. we would have a terrible decade for investing. people were skeptical of the stock market. it was a sleepy wall street. most economists expect a serious recession with at least 2 million more americans losing their jobs. regret to say we are in the worst economic mess since the great depression. from the first moment of his presidency, president reagan let him know that his top priority is the nation s economy. i put a freeze on pending regulations of the task force under vice president bush to revie
what do we wall greed the day before an indictment? i m afraid recently we ve called it success. the u.s. economy, which used to be the envy of the world, is in the most serious trouble since the great depression. inflation is rising, while the standard of living is declining. there was tremendous inflation, and not much growth. the country was not in a great depression in 1980, but the united states was in the dumps. on wall street, it was cold, gray, wet, and miserable. there was no comfort to be found outside. and for investors, there was not much inside either. the tickers carried almost nothing but bad news. we d come off a terrible decade for investing. people were skeptical of the stock market. it was a very sleepy wall street back then. most economists expect a serious recession, with at least 2 million more americans losing their jobs. i regret to say that we re in the worst economic mess since the great depression. literally from the
that lincoln had made. there were no credit reports on the borrowers in all 52. and on top of that, charles keating has lincoln savings sell uninsured junk bonds, and he targets the widows in the retirement community. goldin: there were 23,000 customers who would buy $250 million of these bonds. we had sold our home in sherman oaks. my husband had had a stroke. we moved down here, went to lincoln savings down here. goldin: how much is your debenture? you really want to know? yes. it was $30,000, and for us, that was quite a bit. [ crowd murmuring ] capitalize on this, the bond salesmen were told. the weak, meek, and ignorant are always good targets. the regulators were looking at this and saying, you know, this guy is a disaster, man. we have got to stop this. but by that time, keating had a construction company in arizona,
and they re all on the s&ls books. there s something wrong about the savings and loan industry today. and it isn t me. charles keating was a lawyer who got into banking and was able to buy a savings and loan. kroft: when keating bought lincoln savings and loan of irvine, california, he used it as a private piggy bank for his own ambitions, like the phoenician hotel, which cost $500,000 per room to build. that hotel is a magnificent investment for savings and loan s dollars. no question about it. the real problem is, when our appraisers looked at it, they said, eh, it s not such a bad hotel, but it s worth $200 million, not $300 million. pizzo: bill black was one of the chief regulators at the federal home loan bank board, who was really the guy who spearheaded going after keating. black: we discovered likely fraud just really basic things that no honest bankers would do. the examiners looked at 52 real estate loans