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Shortfall: family secrets, financial collapse, and a hidden history of American banking

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The rollicking true story of a 1930s version of Bernie Madoff—and the building and loan crash he helped precipitate—in a wonderful work of narrative nonfiction by the Gustavus Myers book award winner

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.

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9781620973035
9781620973042
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Grouping Information

Grouped Work IDce2a0cb6-c224-01f0-84de-785b98aa302f
Grouping Titleshortfall family secrets financial collapse and a hidden history of american banking
Grouping Authoralice echols
Grouping Categorybook
Grouping LanguageEnglish (eng)
Last Grouping Update2020-10-21 23:07:01PM
Last Indexed2020-10-21 02:50:16AM
Novelist Primary ISBNnone

Solr Details

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author_displayEchols, Alice
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Fair Oaks
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North Natomas
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Fair Oaks
North Highlands-Antelope
North Natomas
display_description

The rollicking true story of a 1930s version of Bernie Madoff—and the building and loan crash he helped precipitate—in a wonderful work of narrative nonfiction by the Gustavus Myers book award winner

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.

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subject_facetCommercial crimes -- Colorado -- Case studies
Davis, Walter Clyde
Electronic books
Embezzlement -- Colorado -- Case studies
Financial crime -- Colorado -- Case studies
Savings and loan associations -- Corrupt practices -- Colorado -- Case studies
United States -- History -- 1919-1933
title_displayShortfall : family secrets, financial collapse, and a hidden history of American banking
title_fullShortfall : family secrets, financial collapse, and a hidden history of American banking / Alice Echols
Shortfall : family secrets, financial collapse, and a hidden history of American banking [electronic resource] / Alice Echols
Shortfall Family Secrets, Financial Collapse, and a Hidden History of American Banking
title_shortShortfall
title_subfamily secrets, financial collapse, and a hidden history of American banking
topic_facetBusiness
Commercial crimes
Corrupt practices
Davis, Walter Clyde
Electronic books
Embezzlement
Financial crime
History
Nonfiction
Savings and loan associations