Remember the S. & L. crisis in the 1980s? Well the man who made it
all possible was Fred S. & L. Thompson. Because without his tireless
work to get the industry deregualted Neil Bush and Silverado would
never have happened.
<For example, in 1982, on behalf of the Tennessee Savings and Loan League, Thompson
lobbied the U.S. Congress to pass the Garn - St Germain Depository Institutions Act of
1982 which deregulated the Savings and Loan (S&L) industry.<18> This Act was supported
by President Reagan and a large congressional majority, but it turned out to be one of
many contributing factors that led to the savings and loan crisis of the late 1980s.<27>
Thompson received $1600 for communicating with some congressional staffers on this issue.<26>>
http://en.wikipedia.org/wiki/Fred_Thompson<The Savings and Loan crisis of the 1970s and 1980s was a wave of savings and loan association
failures in the United States in which over 1,000 savings and loan institutions failed in "the
largest and costliest venture in public misfeasance, malfeasance and larceny of all time."<1> The
ultimate cost of the crisis is estimated to have totaled around USD$150 billion, about $125 billion
of which was consequently and directly subsidized by the U.S. government, which contributed to
the large budget deficits of the early 1990s. The concomitant slowdown in the finance industry
and the real estate market may have been a contributing cause of the 1990-1991 economic recession.>
http://en.wikipedia.org/wiki/Savings_and_Loan_crisis