S&L Crook, In 1981, after leaving the House Banking Committee, Hyde went on the board of directors of Clyde Federal Savings and Loan, whose President was one of many of Hyde's banker contributors. The Congress deregulated S&L industry in 1982, and Clyde began taking part in loans for luxury residences in Texas and bought a bank in the Cayman Islands, a notorious financial exchange for laundering money. Since 1984, when Hyde left the board, it was clear to the directors from the reports that the establishment had failed, but Hyde and others on the board continued to give inappropriate financial loans to cronies and insiders and make it possible for the establishment to overcharge the government on student loans. In 1990, the federal government put Clyde in receivership, and finally paid $67 million to cover deposits. In 1993, the Resolution Trust Corporation sued Hyde and other directors for $17.2 million.Hyde had an extramarital affair in the late 1960 and destroyed a family.Hyde was 41, a state legislator, and the father of four sons when the affair began in 1965 with a29-year-old Cherie Snodgrass, who had a son and two daughters between the ages of 7 and 9 at the time. The relationship lasted until at least 1969.The Snodgrasses divorced because of the affair.Shalom,---Leland Milton Goldblatt, Ph.D.Distinguished Professor
Nice drawing. What were you, 18 then?
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