Detailed text transcripts for TV channel - FOXNEWS - 20180122:01:09:00
Uned states, they have savings & loan associations. >> savings & loans were sleepy little mom and pop banks. >> they could do a lot more than banks. they were less regulation, if you will. >> jim mcdougal bought madison guaranty savings & loan, and began engaging in development loans. loans to help people build properties. >> there weren't a lot of rules in place. and you could loan on anything. >> as he did, he got in way over his head and began to engage in corrupt loans. >> suddenly the deregulation dates were open to anyone lending on anything and everything and to everybody. >> the saving...
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