Jun 20 2009
Downey Savings and Loan: The Anatomy of an Option ARM led California Banking Disaster. Other People’s Money Delusion.
On June 15, 2009 the Office of the Inspector General issued their audit report regarding the failure of California’s Downey Savings and Loan Association (Downey). Now the story of DSL is important because it highlights the entire process of how we came to this financial crisis that now threatens the economic stability of the [...]
