S&L Scandal


a form of fraud, using a fake savings & loan, to bilk lower and middle cl-ss honest people out of their savings.
“charles keating was sentenced to a max. of 10 years in prison for his s&l scandal, selling junk bonds out of his savings & loan company.”

“a whole bunch of the elderly lost their life savings when they invested in a local savings & loan office, which then claimed bankruptcy, leaving the board rich and the investors broke.”

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