Perception

From the dissertation, Chapter 8, “The Pathologies of Regulatory Inaction: Institutional Dimensions”

When you don’t have a buyer who can borrow, you don’t have a price.

Testimony of John Lytle, former vice-president, Continental Illinois Bank, in l982 U.S. House of Representatives inquiry into the collapse of Penn Square Bank (Committee on Banking, Finance and Urban Affairs, House of Representatives, l982: 36).

Prior to Continental Illinois itself collapsing in 1984, and John Lytle pleading guilty to bank fraud in 1988.

Advertisements

About brucelarochelle

Practising Lawyer and Part-Time University Instructor (Accounting, Commercial Law, Organizational Behaviour); Part-Time Federal Tribunal Member. Non-practising Chartered Professional Accountant (Chartered Accountant and Certified Management Accountant).
This entry was posted in Financial Institution Failures, Financial Institution Regulation. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s