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- Savings_and_loan_crisis abstract "The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of 1,043 out of the 3,234 savings and loan associations in the United States from 1986 to 1995: FSLIC closed or otherwise resolved 296 institutions from 1986-1989 and the RTC closed or otherwise resolved 747 institutions from 1989-1995. A savings and loan or "thrift" is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members – a cooperative venture known in the United Kingdom as a building society. By 1995, the RTC had closed 747 failed institutions, worth a book value of between $402 and $407 billion, with an estimated cost to taxpayers of $160 billion. In 1996, the General Accounting Office estimated the total cost to be $160 billion, including $132.1 billion taken from taxpayers.William K. Black wrote that Paul Volcker as Chairman of the Federal Reserve helped create a criminogenic environment for the Savings and Loans in 1979 by doubling the interest rate (to reduce inflation): S&Ls made long-term loans at fixed interest using short-term money. When the interest rate increased, the S&Ls could not attract adequate capital and became insolvent. Rather than admit to insolvency, lax regulatory oversight allowed some CEOs of S&Ls to become "reactive" control frauds by inventing creative accounting strategies that turned their businesses into Ponzi schemes that looked highly profitable, thereby attracting more investors and growing rapidly, while actually losing money. This had two effects: it meant that the fraud continued longer and substantially increased the economic losses involved, and it attracted "opportunistic" control frauds who were looking for businesses they could subvert into Ponzi schemes. For example, Charles Keating paid $51 million from Michael Milken's junk bond operation for Lincoln Savings and Loan, which at the time had a negative net worth exceeding $100 million.Others, like Robinson (2013) or the historical account of the crisis by the FDIC (2000) give multiple reasons as to why the Savings and Loan Crisis transpired. In no particular order of significance, they identify the inflation of the 1970s, the end of inflation, deregulation, regulatory forbearance, and fraud as factors of the crisis.".
- Savings_and_loan_crisis wikiPageExternalLink fullpage.html?res=9C0CE2D61138F934A1575AC0A966958260.
- Savings_and_loan_crisis wikiPageExternalLink savingsandloancrisis.com.
- Savings_and_loan_crisis wikiPageExternalLink Martin+Mayer.aspx.
- Savings_and_loan_crisis wikiPageExternalLink 1107black.html.
- Savings_and_loan_crisis wikiPageExternalLink SavingsandLoanCrisis.html.
- Savings_and_loan_crisis wikiPageExternalLink thrifts.
- Savings_and_loan_crisis wikiPageExternalLink brv13n2_2.pdf.
- Savings_and_loan_crisis wikiPageExternalLink s&l.
- Savings_and_loan_crisis wikiPageID "896632".
- Savings_and_loan_crisis wikiPageRevisionID "606107570".
- Savings_and_loan_crisis hasPhotoCollection Savings_and_loan_crisis.
- Savings_and_loan_crisis subject Category:Economic_disasters_in_the_United_States.
- Savings_and_loan_crisis subject Category:Financial_institutions.
- Savings_and_loan_crisis subject Category:Financial_services.
- Savings_and_loan_crisis subject Category:Mutual_organizations.
- Savings_and_loan_crisis subject Category:Presidency_of_Ronald_Reagan.
- Savings_and_loan_crisis subject Category:Reagan_administration_controversies.
- Savings_and_loan_crisis subject Category:Savings_and_loan_crisis.
- Savings_and_loan_crisis comment "The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of 1,043 out of the 3,234 savings and loan associations in the United States from 1986 to 1995: FSLIC closed or otherwise resolved 296 institutions from 1986-1989 and the RTC closed or otherwise resolved 747 institutions from 1989-1995.".
- Savings_and_loan_crisis label "Crise des Savings and loan".
- Savings_and_loan_crisis label "Crisis de ahorros y préstamos".
- Savings_and_loan_crisis label "Savings and loan crisis".
- Savings_and_loan_crisis label "Savings-and-Loan-Krise".
- Savings_and_loan_crisis sameAs Savings-and-Loan-Krise.
- Savings_and_loan_crisis sameAs Crisis_de_ahorros_y_préstamos.
- Savings_and_loan_crisis sameAs Crise_des_Savings_and_loan.
- Savings_and_loan_crisis sameAs m.03ms1h.
- Savings_and_loan_crisis sameAs Q1326489.
- Savings_and_loan_crisis sameAs Q1326489.
- Savings_and_loan_crisis wasDerivedFrom Savings_and_loan_crisis?oldid=606107570.
- Savings_and_loan_crisis isPrimaryTopicOf Savings_and_loan_crisis.