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Lessons linger 30 years after Commonwealth Savings collapse

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A Lee Enterprises, Incorporated newspaper. Majority shareholder: David Hoffmann, Hoffmann Media Group.

Lessons linger 30 years after Commonwealth Savings collapse

• By KEVIN O'HANLON / Lincoln Journal Star
• Oct 28, 2013
• Oct 28, 2013 Updated Mar 19, 2021
• 0

1 of 5

Carrying signs that read "Nebraska, the good life for bankers," "6700 depositors of Commonwealth held hostage by the state of Nebraska" and "There is a cancer growing over Nebraska governmental bodies," several hundred depositors of Commonwealth Savings Co. gather on the north steps of the state Capitol in 1984 to commemorate the first anniversary of the failure of the industrial loan and investment company.

• Journal Star file photo

Depositors gather outside of Commonwealth Savings Co. after it was closed by the state Department of Banking in 1983.

• Journal Star file photo

Depositors gather outside Commonwealth Savings Co. on Nov. 3, 1983, hoping for news on the money they had in the failed industrial loan and investment company.

• Journal Star file photo

Depositors of the failed Commonwealth Savings Co. protest at the state Capitol in spring 1985. Crosses planted on the Capitol lawn protested what depositors' saw as the state's inaction in helping them recover their losses.

• Journal Star file photo

Thirty years ago, Mary Croissant helped organize the first depositer advocacy group after the Commonwealth Savings Co. collapse.

• ERIC GREGORY/Lincoln Journal Star

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By KEVIN O'HANLON / Lincoln Journal Star

Nov. 1, 1983, began as a largely unremarkable day in many respects.

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Reach Kevin O'Hanlon at 402-473-2682 or kohanlon@journalstar.com.

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Carrying signs that read "Nebraska, the good life for bankers," "6700 depositors of Commonwealth held hostage by the state of Nebraska" and "There is a cancer growing over Nebraska governmental bodies," several hundred depositors of Commonwealth Savings Co. gather on the north steps of the state Capitol in 1984 to commemorate the first anniversary of the failure of the industrial loan and investment company.

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Depositors gather outside of Commonwealth Savings Co. after it was closed by the state Department of Banking in 1983.

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Depositors gather outside Commonwealth Savings Co. on Nov. 3, 1983, hoping for news on the money they had in the failed industrial loan and investment company.

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Depositors of the failed Commonwealth Savings Co. protest at the state Capitol in spring 1985. Crosses planted on the Capitol lawn protested what depositors' saw as the state's inaction in helping them recover their losses.

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Thirty years ago, Mary Croissant helped organize the first depositer advocacy group after the Commonwealth Savings Co. collapse.

• ERIC GREGORY/Lincoln Journal Star

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