(His web site is worth looking at, if nothing else because it's about as inspiring as the man himself.)
That being said, most of the S&L industry went bust at about the same time, and it's not at all surprising that some honest operators went down. I seem to remember one of the best-managed thrifts (I think it was Glendale Federal) was tossed to the wolves due to this same change, and I believe they did win their suit against the government.
D