Profiting from the Bank and Savings & Loan Crisis: How Anyone Can Find Bargains at America's Greatest Garage Sale
Books / Hardcover
Books › Business & Economics › General
ISBN: 0887305962 / Publisher: HarperCollins, February 1993
A guide to benefiting from the S&L and banking crisis
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It's the fire sale of the century! As banks and savings and loans have failed, our government has been left with over $400 billion in assets that it now has to sell. Fast. And with more banks teetering on the brink of failure, there's more on the way.Everything is on the block: office buildings, cars, condos, houses, apartment buildings, yachts, fine art, computers, vacation homes, land, and more. All are for sale at cut-rate prices that have been characterized as "more in the realm of a steal than a good buy" and as "a blowout of the bottom of the market."But the best prices in the world won't help if you can't find the store. Profiting from the Bank and Savings & Loan Crisis is the first and only book to describe how anyone - from regular consumers to wealthy investors - can find bargains at this giant national garage sale.Pizzo and Muolo explain the inner workings of the FDIC and RTC, the two government agencies empowered by Congress to dispose of the assets of failed banks and S & Ls. Besides telling how to locate government asset auctions, the authors also disclose how to use inexpensive home computers to tap into the RTC's and FDIC's giant computer data bases of available assets, how to inspect property and merchandise offered for sale, how to do your own appraisals, how the government will loan you most of the purchase money, and how low- to moderate-income workers can get favored treatment on home purchases.The government's mandate to sell off the assets of failed banks and S & Ls presents individual taxpayers with an unparalleled opportunity to recover for themselves some of the billions of dollars spent on the bailout. Filled with invaluable commonsense details, Profiting from the Bank and Savings & Loan Crisis offers clear, concrete advice for investors - large or small - looking for the deal of the century.
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