Reply #17: And the bonus. Hundreds of thousand of assets, buildings, pennies on the dollar...

[Neshanic]

The Western Savings and Loan building in Phoenix, a magnificent structure, finished just as the place went under. A person paid less than a luxury home for it. I will look up the numbers and get a pic. I was stunned when some guy bought it from the RTC for basically nothing. It was the palace of excess.

The RTC kept the chef and cafreteria staff on, and I worked in an office right next to it. A cafeteria that only Keating would accept. The meals were about $1.50, on fine china and linen. We had lunch there every day. The RTC subsidized it.