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Author Echols, Alice, author.

Title Shortfall [OverDrive/Libby electronic resource] family secrets, financial collapse, and a hidden history of American banking / Alice Echols.

Publication Info. New York, NY : New Press, [2017]
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Description 1 online resource
text file rda
eBook tlcgt
General tlctarget
Note Electronic book.
Contents Prologue: captain nothing -- Advertisements for himself -- The loan man -- Racketeers and suckers -- Slipping through your fingers -- Sowing grief -- The port of missing men -- Orphans in the storm -- Epilogue.
Reproduction Electronic reproduction. LaVergne The New Press 2017 Available via World Wide Web.
Summary Shortfall opens with a surprise discovery in an attic--boxes filled with letters and documents hidden for more than seventy years--and launches into a fast-paced story that uncovers the dark secrets in Echols's family--an upside-down version of the building and loan story at the center of Frank Capra's 1946 movie, It's a Wonderful Life. In a narrative filled with colorful characters and profound insights into the American past, Shortfall is also the essential backstory to more recent financial crises, from the savings and loan debacle of the 1980s and 1990s to the subprime collapse of 2008. Shortfall chronicles the collapse of the building and loan industry during the Great Depression--a story told in microcosm through the firestorm that erupted in one hard-hit American city during the early 1930s. Over a six-month period in 1932, all four of the building and loan associations in Colorado Springs, Colorado, crashed in an awful domino-like fashion, leaving some of the town's citizens destitute. The largest of these associations was owned by author Alice Echols's grandfather, Walter Davis, who absconded with millions of dollars in a case that riveted the national media. This book tells the dramatic story of his rise and shocking fall.
Subject Davis, Walter Clyde.
Embezzlement -- Colorado -- Case studies.
Financial crime -- Colorado -- Case studies.
Savings and loan associations -- Corrupt practices -- Colorado -- Case studies.
United States -- History -- 1919-1933.
Genre Electronic books.
Added Author OverDrive, Inc., distributor.
Other Form: Print version: Echols, Alice, author. Shortfall New York, NY : New Press, [2017] 9781620973035 (DLC) 2017018190
ISBN 9781620973042 (electronic bk.)
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