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	MilkenInstitute.Org > Publications > The Savings and Loan Crisis: Lessons From a Regulatory Failure (Site not responding. Last check: 2007-11-03)
		The initial adverse developments in the savings and loan industry that were to lead to the crisis were caused primarily by the interaction of excessive regulatory constraints and a rapidly changing financial marketplace.
		Although the savings and loan crisis was an accident, it was an avoidable one.
		"A Roundtable on the Savings and Loan Crisis"
	www.milkeninstitute.org /publications/publications.taf?function=detail&ID=310&cat=Books (700 words)

	Savings and Loan crisis - Wikipedia, the free encyclopedia
		The Savings and Loan crisis of the 1980s was a wave of savings and loan association failures in the United States in which over 1,000 savings and loan institutions failed.
		The ultimate cost of the crisis is estimated to have totaled around USD$150 billion, about $125 billion of which was consequently and directly subsidized by the U.S. government, which contributed to the large budget deficits of the early 1990s.
		Savings and loan institutions (also known as SandLs or thrifts) have existed since the 1800s.
	en.wikipedia.org /wiki/Savings_and_Loan_crisis (1569 words)

	Savings and loan crisis
		Savings and loan associations · Savings and Loan crisis · Savings and Loan scandal · savings and loans · savings and loans association...
		The Savings and Loan crisis of the 1980s was a wave of savings and loan...
		Savings and Loan crisis The Savings and Loan crisis of the 1980s was a wave of savings and loan association failures in the USA, caused by rising.
	www.angelfire.com /hiphop/andy32/savingsandloancrisis.html (871 words)

	Interest only loan Savings and Loan crisis, more information about Savings and Loan crisis
		The Savings and Loan crisis of the 1980s was a wave of savings and loan failures in the USA, caused by mismanagement, rising interest rates, failed speculation and, in some cases, fraud.
		Many banks, but particularly savings and loan institutions, were experiencing an outflow of low rate deposits, as depositors moved their money to the new high interest money market funds.
		Early in the Reagan administration, savings and loan institutions ('S&Ls') were deregulated (see the Garn - St Germain Depository Institutions Act of 1982), putting them on an equal footing with commercial banks.
	www.interestonly-loan.us /Savings_and_Loan_crisis.html (716 words)

	US Savings & Loan Crisis
		Lincoln Savings & Loan was to become one of the largest S&L failures when it was closed in 1989, sparking a series of major court cases.
		In 1989 and 1990 the S&L crisis reached its height in terms of public expense, with the RTC resolving 318 thrifts with total assets of $135 billion in 1989 and 213 thrifts with total assets of $130 billion in 1990.
		At different stages of the crisis, and at many different levels from bank executives through to regulators and politicians, a formalistic reporting of the financial condition of S&Ls was deliberately selected by interested parties to cover up the true economic extent of the unfolding disaster.
	www.erisk.com /Learning/CaseStudies/USSavingsLoanCrisis.asp (4403 words)

	Amazon.com: The Savings and Loan Crisis: Lessons from a Regulatory Failure (The Milken Institute Series on Financial ... (Site not responding. Last check: 2007-11-03)
		As is documented by the highly respected and diverse group of former regulators, scholars and practitioners contributing to this book, the collapse of this industry was caused by a confluence of adverse economic conditions and misguided regulatory decisions.
		The savings and loan crisis was an accident, but it was an avoidable one.
		Save $10 today when you spend $49 or more on any combination of products offered at Amazon Grocery, including food and household items.
	www.amazon.com /Savings-Loan-Crisis-Regulatory-Innovation/dp/1402078714 (619 words)

	[No title]
		American economists have made a strong case that the foundations for the 1980s savings and loan crisis were basically laid by the Banking Act of 1933, which constrained the amount and type of interest rates the thrift organizations could charge [26].
		The crisis began with the devaluation of the Thai baht on July 2 of 1997.
		Non-performing loans at the time were a modest 8 percent of total loans and the government projected an economic growth rate of 1-2 percent as a result of these measures.
	campus.murraystate.edu /academic/faculty/phil.niffenegger/influence.doc (3059 words)

	Savings and Loan Crisis, by Bert Ely: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		Savings and Loan Crisis, by Bert Ely: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		S&Ls, stuck with long-term loans at fixed rates, often had to pay more to their depositors than they were making on their mortgages.
		Thus, the extension of Regulation Q to S&Ls was a watershed event in the S&L crisis: it perpetuated S&L maturity mismatching for another fifteen years, until it was phased out after disaster struck the industry in 1980.
	www.econlib.org /library/Enc/SavingsandLoanCrisis.html (2445 words)

	Background
		The BCCI scandal and the savings and loan crisis are complicated by near-incomprehensible numbers, multitudes of players, and the heightened secrecy that often protects negligent and criminal behavior.
		In assessing the implications of the scandal, Truell pointed to "an erosion of trust in public institutions." Although the BCCI scandal may impose a financial burden on taxpayers, its greatest cost to the public is the loss of trust in government.
		The crisis was first exposed in the media by three little-known reporters from small papers who pooled their information and discovered that massive fraud, much of it interconnected, permeated the savings and loan industry.
	www.annenberg.northwestern.edu /pubs/news/news03.htm (1221 words)

	Savings and loan crisis of 1980 (via CobWeb/3.1 planetlab2.netlab.uky.edu) (Site not responding. Last check: 2007-11-03)
		This is what speculators did in the 1980's and early 1990's which pre-empted the Savings and Loan Crisis and resulted in the formation of the RTC.
		The Savings and Loan crisis of the 1980s was a wave...
		Savings and Loan crisis The Savings and Loan crisis of the 1980s was a wave of...
	747.fobtgm.info.cob-web.org:8888 (1285 words)

	The liability ramifications of the S&L crisis. (savings and loan)
		The civil liability of the accounting firms of failed savings and loan institutions (SandLs) has been brought into question by legal actions being initiated against certain firms by the Federal Savings and Loan Insurance Corporation (FSLIC) and a report of the General Accounting Office citing significant audit and reporting problems.
		This dramatic increase in energy costs set off a wave of inflation which ran at double digit levels until it was finally placed under control after the country had experienced interest rates as high as 22%, which, in turn, sent the nation's economy into a recession in the later part of 1981 and 1982.
		"The Federal Home Loan Bank Board and the federal government, instead of coming to grips with the problem, placed pressure on this bank and its board of directors and its officials, who were incompetent to handle this kind of pressure, to go out and make these risky loans to improve their income.
	www.nysscpa.org /cpajournal/old/08135520.htm (3536 words)

	Savings and loan crisis of 1980 (via CobWeb/3.1 planetlab2.netlab.uky.edu) (Site not responding. Last check: 2007-11-03)
		CUNA specifically pointed to the bank and savings and loan crisis in the 1980 and early '90s as "the most notorious" example of how "lax supervision" by...
		In 1980 savings and loan associations originated 40 percent of...
		Vol I App 2 Failure of Madison Guaranty and the SandL Crisis of the...
	388.5yavz3.info.cob-web.org:8888 (1470 words)

	The Bush family and the S&L (Savings and Loan) Scandal
		The Savings and Loan industry had been experiencing major problems through the late 60s and 70s due to rising inflation and rising interest rates.
		The problems occurred in the Savings and Loan industry as they relate to theft because the industry was deregulated under the Reagan/Bush administration and restrictions were eased on the industry so much that abuse and misuse of funds became easy, rampant, and went unchecked.
		There are several ways in which the Bush family plays into the Savings and Loan scandal, which involves not only many members of the Bush family but also many other politicians that are still in office and still part of the Bush Jr.
	www.rationalrevolution.net /war/bush_family_and_the_s.htm (1205 words)

	FRB Cleveland - Glossary of Economic Terms (Site not responding. Last check: 2007-11-03)
		The savings and loan crisis refers to the economic collapse of the savings and loan industry during the 1980s.
		This debacle was initiated by the interest rate spike that was a consequence of the secularly rising inflation during the late 1970s and the October 1979 monetary policy action taken by the Federal Reserve to bring inflation under control.
		The passage of the Financial Institutions Recovery, Reform and Enforcement Act of 1989 and the Federal Deposit Insurance Corporation Improvement Act of 1991 effectively mark the end of the savings and loan debacle.
	www.clevelandfed.org /Research/Glossary/SLcrisis.htm (91 words)

	Business Library, The University of Western Ontario
		In this expert insider's account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOs--in collusion with those who have regulatory oversight of their industries--use to defraud companies for their personal gain.
		Stewart, A.W. The savings and loan crisis: A Bibliography
		Talley,P.L. The Savings and Loan Crisis: An Annotated Bibliography
	www.lib.uwo.ca /business/savingsandloan.html (1252 words)

	Savings and loan association - Wikipedia, the free encyclopedia
		It has been suggested that Mutual savings bank be merged into this article or section.
		The latest of mortgages were not offered by banks, but by insurance companies, and they differed greatly from the mortgage or home loan that is familiar today.
		As such, many people were either perpetually in debt in a continuous cycle of refinancing their home purchase, or they gained their home when they were unable to make the balloon payment at the end of the term of that loan.
	en.wikipedia.org /wiki/Savings_and_loan_association (856 words)

	APPROPRIATE SOURCE FOR PAYMENT OF JUDGMENTS AND UNITED STATES v. WINSTAR CORP. RELATED CASES
		The Federal Savings and Loan Insurance Corporation Resolution Fund is the appropriate source of payment for judgments against, and settlements by, the United States in United States v.
		Finally, in 1934, Congress created the Federal Savings and Loan Insurance Corporation, "under the direction of" the Bank Board, to insure thrift deposit accounts and to regulate all federally insured thrifts to ensure that their capital is unimpaired and that their financial policies and management are "safe." See Pub.
		The savings and loan crisis of the early 1980's originated from the rising interest rates of the late 1970's and early 1980's.
	www.usdoj.gov /olc/winstarfinal.htm (9191 words)

	[No title] (Site not responding. Last check: 2007-11-03)
		Accordingly, the report also presents an historical perspective on the savings and loan crisis and RTC, the costs of the crisis, and remaining fiscal implications of the crisis.
		Specifically, the information describes (1) background on the savings and loan crisis and the creation of RTC, (2) the completion of RTC's mission, (3) RTC's estimated costs and funding, (4) RTC's controls over contracting, (5) the cost of resolving the savings and loan crisis, and (6) remaining fiscal implications of the crisis.
		In response to the worsening savings and loan crisis, the Congress enacted the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) on August 9, 1989.
	www-snde.rutgers.edu /Rutgers/Econ204/RTC_audit.txt (5934 words)

	Only Structural Reform Can Solve the Long-Term Savings and Loan Crisis
		Pressure is mounting for a taxpayer bailout of the strained federal insurance system for the savings and loans, or "thrifts" - at a cost of perhaps $100 billion to the taxpayers.
		From the 1930s through the 1970s, the savings and loan industry was bound tightly in a regulatory cocoon, insulating it from competition and strictly limiting its business activities.
		A massive taxpayer bailout of the savings and loan system seems inevitable because of the mistakes of past decades.
	www.heritage.org /Research/Economy/bu92.cfm (1096 words)

	Confronting the Savings and Loan Industry Crisis
		The Federal Savings and Loan Insurance Corporation (FSLIC), the federal insurer of savings and loans and many savings banks, in effect is bankrupt.
		The FSLIC problem is the national version of the Ohio and Maryland savings and loan deposit insurance crises.
		The solution in those cases was to save the healthy thrifts by shifting them to another deposit insurer and disposing of the basket cases at the lowest possible cost to-the taxpaying public.
	www.heritage.org /research/economy/IB126.cfm (4411 words)

	Bush FAmily and the Savings and Loan Scandal : LA IMC (Site not responding. Last check: 2007-11-03)
		The Savings and Loan industry had been experiencing major problems through the late 60s and 70s due to rising inflation and rising interest rates. Because of this there was a move in the 1970s to replace the role of S&L institutions with banks.
		Neil Bush was the most widely targeted member of the Bush family by the press in the S&L scandal. Neil became director of Silverado Savings and Loan at the age of 30 in 1985. Three years later the institution was belly up at a cost of $1.6 billion to tax payers to bail out.
		Neil failed to disclose this conflict-of-interest when loans were given to Good from Silverado, because the money was to be used in joint venture with his own JNB. This was in essence giving himself a loan from Silverado through a third party.
	la.indymedia.org /news/2004/01/99614.php (1125 words)

	Crime and Justice Abstracts: Vol. 18 (1993)
		Crime and fraud were central factors in the savings and loan crisis.
		Thrift deregulation in the early 1980s, in conjunction with federal insurance on thrift deposits, produced a "criminogenic environment" in which opponunities for fraud were extensive and risks were minimal.
		can be attributed to the economic and regulatory structure of the deregulated savings and loan industry.
	www.journals.uchicago.edu /CJ/abstracts/CJv18p203abstract.html (76 words)

	Savings and Loan Disaster
		The Savings and Loan scandal cost American taxpayers $1.4 Trillion dollars while Reagan was in office.
		Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan Scandal, which cost American tax payers over $1.4 TRILLION dollars (note that this is about one quarter of our national debt).
		Neil became director of Silverado Savings and Loan at the age of 30 in 1985.
	home.att.net /~theworksshop/SLdisaster.htm (1293 words)

	The Savings and Loan Crisis (Site not responding. Last check: 2007-11-03)
		The Savings and Loan crisis cost $200 Billion, that's $4000.00 for every man, woman and child in the United States, rich or poor.
		The customers of the Savings and Loan Institutions were victimized by unscrupulous bankers allowing many multibillion dollar swindles.
		The Savings and Loan crisis is the best example of Republican ignorance, mismanagement and incompetance ever to come crashing upon us.
	latter-rain.com /ltrain/sl.htm (420 words)

	American Conservative Union Foundation
		The bill is corporate welfare on a massive scale and invites a repetition of the savings and loan losses.
		Anyone who thinks that bank examinations or the FIRREA law passed in 1989 after the last savings and loan crisis will offer protection against the huge perverse incentive which the increase creates is living in a dream world.
		The situation is made worse by the fact that the larger banks have succeeded in limiting their contributions to the insurance funds, which will run out of money very quickly in 5-10 years time when the rottenness underneath initial glowing bank earnings reports comes to be revealed.
	acuf.org /issues/issue51/060107gov.asp (667 words)

	Summary of Document (TruthAndPolitics.org)
		As of the end of 1999, the cleanup of the savings and loan crisis had cost US taxpayers approximately $124 billion.
		Causes of the savings and loan crisis included both economic factors and deregulation in the thrift industry (as well as the financial sector more generally).
		The total cost (as of the end of 1999) was approximately $153 billion, of which $124 billion (81%) was born by taxpayers, and $29 billion (19%) was born by the thrift industry.
	www.truthandpolitics.org /html_gen.php?entryId=76 (469 words)

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