| The thrifts were looted by borrowers, who used inflated appraisals and phony financial statements to obtain funds they had no hope of paying back. |
| A decade ago, thrifts got themselves into trouble because they made residential and commercial real estate loans for inflated amounts to borrowers who could not pay. |
| The Fund also rewards banks and thrifts for making investments in CDFIs and distressed communities through its Bank Enterprise Award Program. |
| Large thrift banks in California imitated market entries of other large thrifts. |
| But a bust would still be painful: more than 1,500 of the country's banks and thrifts specialise in agriculture lending. |
| The Resolution Trust Corp., which disposed of the failed thrifts, had a simpler task because the banks were already in receivership. |
