(Excerpted from Chapter 9: The Texas Oil Mafia: Big Oil & Their Bankers…)
A decline in oil prices, which caused Texas Commerce Bank Tower to plummet in value along with the entire Houston commercial real estate market, combined with deregulation of the banking industry, exacerbated the Savings & Loan (S&L) crisis of the 1980’s which cost US taxpayers more than $500 billion.  But the cause of the S&L fiasco was more sinister, involving actors from the CIA, the mafia, the drug cartels and the Texas oil business. Houston Chronicle reporter Pete Brewton tracked the S&L crooks better than anyone and later delivered the bombshell book, The Mafia, CIA and George Bush: The Untold Story of America’s Greatest Financial Debacle.
Chicago was one hub of S&L criminality. According to Chicago researcher Sherman Skolnick, Nugan Hand Bank morphed into Household International, now headquartered in the Chicago suburb of Prospect Heights, IL. Household, now a subsidiary of HSBC, took over American Heritage S&L, while the Walgreens-backed Libertyville S&L laundered money into Madison Guaranty S&L in Little Rock with help from Hillary Clinton’s Rose Law Firm. Skolnick says Bill Clinton received $47 million in Libertyville hush money to protect the Mena drug smuggling operation. Dan Rostenkowski’s (D-IL) Garfield Ridge S&L disguised drug money laundering as soybean trades on the Chicago futures markets, a favorite spook laundry.
A director at Clyde S&L of Chicago was Rep. Henry Hyde (R-IL), who later presided over the Clinton/Lewinsky political lynching. Hyde is a key member of the House Intelligence Committee who is privy to the CIA’s black budget. Hyde lent a hand in the Banca Nacionale de Lavaro cover-up, shielding President George Bush Sr. and his cronies from indictment for their role in the secret arming of Saddam Hussein. 
Olympia S&L of Chicago also had suspect dealings. Judge Earl Brian, a member of the super-secret seven-judge Foreign Intelligence Board and key to the cover-up of the Reagan Presidential Campaign’s October Surprise, oversaw the dissolution of Olympia S&L when it failed.  Brian is the most powerful Freemason in the US- Grand Commander of the Scottish Rite Freemason Lodge in Washington, DC.
Michael Miliken and his cronies at Drexel Burnham Lambert were heavily involved in the S&L bilking. Miliken was brokering corporate junk bonds through BCCI to FSLIC-insured S&Ls, essentially offloading bad private debt onto the public. When the smoke had cleared the Los Angeles Times reported that the FSLIC was seeking $6.8 billion from Drexel, which was controlled by Rothschild cousins, the Brussels-based Lambert family who finance the Antwerp diamond trade. Miliken paid off thrift managers to take on bad debt at over forty S&Ls. In Dallas, Miliken launched Southmark S&L as a bad debt depository. But it was further south among the Houston oil crowd that the key players in the looting of S&Ls would emerge.
Walter Mischer is a Texas millionaire and close friend of George Bush Sr. and Lloyd Bentsen. Mischer got his son-in-law Ray Corson into the CIA when Bush was DCI. Mischer and Bush are close to William Blakemore III, a Midland oil man who controls the Gulf & Caribbean Foundation, a major conduit for Ollie North’s private funding of the contras. Blakemore’s ranch was used by the CIA to train its Nicaraguan proxies and Barry Seal dropped cocaine at the ranch. Mischer was the biggest fundraiser for the Reagan/Bush 1980 campaign. He is good friends with James Baker and Robert Mosbacher, with whom he and Bush often golfed at the Houston Country Club. Walter Mischer Jr. was good buddies with Silverado S&L looter Neil Bush.
The elder Mischer came to own 12% of all the land in Belize, which became a major Silver Triangle transshipment point for Columbian cocaine bound to the US. Mischer business associates say the 700,000 acre Belize land purchase was part of a CIA project. His partners were Houston-based Coca Cola Foods and Paul Howell, former US Navy Admiral and Director of the Houston Federal Reserve Bank.  One note in Oliver North’s diaries read, “Proceed on White House project in Belize”. The money to buy the Belize land came through the Bank of Nova Scotia, which owned the 200 tons of gold recovered from beneath the World Trade Center in October 2001. The bank is the biggest gold dealer in the Caribbean Silver Triangle.
Mischer’s relationship with the CIA goes back to the 1950’s when he purchased a 100,000 acre ranch in remote West Texas near the town of Lajitas. Former ARCO chairman Robert O. Anderson jointly owns 200,000 acres with Mischer in the same area. Anderson’s father worked at First National Bank of Chicago, a long-time CIA paymaster. Anderson was the Eisenhower Secretary of State who allowed the Four Horsemen to escape FTC anti-trust action and was rewarded with 900,000 acres of oil rich land in Texas and Louisiana compliments of Rockefeller cronies Clint Murchison and Sid Richardson.
In 1986 Anderson became a business partner of British industrialist, CIA asset and Adnan Khashoggi pal Walter “Tiny” Rowland. Rowland is close to Chase Manhattan insider and Watergate Deep Throat candidate General Alexander Haig. Anderson and Mischer had an airstrip constructed on their land long enough to accommodate C-130 military transport planes. During the 1980’s the CIA simultaneously flew Medellin Cartel representatives and recruits for their Nicaraguan contra war into the ranch, where paramilitary training occurred between the offloading of cocaine shipments and the packaging of weapons headed south to the contras.
Ronald Joseph Martin, owner of Miami’s Tamiami Gun Shop who supervised the Honduran arms supermarket and who ostensibly supplied the Texas ranch with weapons, was a partner with Mischer son-in-law and CIA operative Ray Corson in a casino in the Canary Islands, along with Somoza family friend and former US military attaché to Nicaragua James McCoy. Martin had borrowed money from Mischer to buy weapons in the 1970’s when he was part of Ted Shackley’s Trak II CIA destabilization of Chile.
Just down the road from the Anderson/Mischer spread millionaire banker Richard Harper owned a meat-packing plant in the Texas/Mexico border town of Eagle Pass. Harper had close connections to the White House and facilitated cross border weapons orders. He was later caught flying weapons to Louisiana warehouses owned by New Orleans mob boss Carlos Marcello. 
Dean Henderson is the author of five books:Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network, The Grateful Unrich: Revolution in 50 Countries, Das Kartell der Federal Reserve, Stickin’ it to the Matrix & The Federal Reserve Cartel. You can subscribe free to his weekly Left Hook column @www.hendersonlefthook.wordpress.com