This paper discusses the Savings and Loan crisis of the 80's that was an economic and
bureaucratic disaster; wherein, one case alone, Charles Keating, cheated over seventeen thousand of
investors and cost the American
taxpayers more than $3.4 billion. The author explains how the S&L, traditionally one of the slowest sectors of the American economy, became involved in this scandal. The paper details the role of Keating, his legal battle and the
bailout that cost taxpayers $2.5 billion.