Savings and Loan Industry Failures

Chapter 4 describes the effect that the Savings and Loans industry failures had on the accounting profession.  The failures centered on inadequate allowances for doubtful accounts, disclosure failures, and internal control failures. 
I was once a RTC/FDIC contractor and was responsible for booking many journal entries and case write-ups for several of these institutions.   The failed institutions were deemed so by examiners who would go into the banks, go over the records and deem them solvent or insolvent.  Those that were insolvent would go into what was called receivership. 
Without going into specifics, I was able to see close up how the accounting failures effected, not only the accounting industry, but the public trust at large.