Document Type
Article
Abstract
During its 160 year history, the savings and loan industry has had its share of turmoil, but no previous situation rivals the events of the 1980s. During this period 525 insolvent S&Ls (or thrifts) were liquidated or sold. The cost was so enormous that in 1989, President Bush announced that taxpayers would have to bear the burden of the bailout at the expense of much needed education, welfare, and infrastructure improvement programs. The situation was so financially complex that few taxpayers truly understood what had occurred. This essay will examine the savings and loan disaster. The intent is to provide a detailed, yet generalized, view of the history of savings and loans leading up to and through the crisis.
Publication Date
1992
Journal Title
Draftings In
Volume
7
Issue
2
First Page
24
Last Page
36
Copyright
©1992 by the Board of Student Publications, University of Northern Iowa
Language
en
File Format
application/pdf
Recommended Citation
Gifford, Thomas
(1992)
"The United States' Savings and Loan Bail Out Effort: A Discussion and Critique,"
Draftings In: Vol. 7:
No.
2, Article 5.
Available at:
https://scholarworks.uni.edu/draftings/vol7/iss2/5
Comments
This issue is also considered v.8 of the initial publication series of Major Themes in Economics.
No cover/title page date shown on piece.