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Politics : PRESIDENT GEORGE W. BUSH
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To: American Spirit who wrote (53288)10/27/2000 2:06:45 PM
From: Les H  Read Replies (2) of 769670
 
The S&L deregulation started because they were losing money left and right to money market funds. During the Democrat super-inflation recession of the 1980-1982, everyone was pulling money out of S&Ls and banks which had statuatory limits on savings rates. It might help you read a few history books and identified what the genesis of these probems were. Who was going to leave their money in the S&L for 5.25 percent when they could go into money market funds for 14 percent and CDs as high as 21%? Money was leaving the local economies out the front door of the S&Ls and banks.
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