In my recent column I tried to convey a bit of courage, competence, and craziness that Jim Cirona displayed and had to deal with as a top regional regulator during the savings and loan crisis.
I failed, however, to discuss an episode that epitomizes all these elements. The incident also eventually led to Cirona hiring me as the SVP and General Counsel of the Federal Home Loan Bank of San Francisco (FHLBSF). I will draw heavily on Bartlett Naylor’s “The Legend of Wild Bill and Black Bart” in recalling the tale.
