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 Xtine66 rated 10 months ago- The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S&L crisis) was the failure of 747 savings and loan associations (S&Ls) in the United States. The ultimate cost of the crisis is estimated to have totaled around USD$160.1 billion, about $124.6 billion of which w... more
- Tags: banking, economics
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5 Reviews
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- Xtine66 rated 10 months agoeconomics, banking, deja-vu
- The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S&L crisis) was the failure of 747 savings and loan associations (S&Ls) in the United States. The ultimate cost of the crisis is estimated to have totaled around USD$160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government -- that is, the U.S. taxpayer, either directly or through charges on their savings and loan accounts -- which contributed to the large budget deficits of the early 1990s. ...
- acompas rated 10 months agobanking
- Good thing we as a nation have learned from our mistakes and never repeat anything like the S&L bailout of the 1980s...
- Klassy reviewed 10 months ago
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As what had already happened before, the US government is now talking about -- and will -- come to the rescue of banks under the argument that it is more harmful in the long run to let them fail.
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