1. Discuss how moral hazard and adverse selection made the S&L crises worse. Explain this with respect to both the S&L depositors and the S&L operators?
2. Discuss the three ways that Regulatory Accounting Procedures made an insolvent S&L appear solvent?
3. Who were the primary beneficiaries of the S&L crises? Who or What was the major cause of the 200 billion dollar cleanup expense.