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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Henry Volquardsen who wrote (2931)1/8/2001 12:34:20 PM
From: Sam  Read Replies (2) of 3536
 
Well, I have to leave until tonight, but a very quick response: the S&L crisis occurred, as I recall it at any rate, because the Reagan administration basically allowed S&L's to use the FDIC guarantee to essentially mint money (draw deposits through government guaranteed high interest loans), and dropped all oversight responsibilities. It was an example of a stupid government policy where more stringent oversight was desperately needed. Of course, some will say that it was the government guarantee that created the possibility in the first place. But I can't follow that right now. Later.
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