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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Sam who wrote (2939)	1/8/2001 2:45:01 PM
From: Henry Volquardsen	Read Replies (2) of 3536

I'll await your comments later but will make one comment about Reagan administration culpability in the S&L crisis. I got into the banking in the late 70s. One of the first things I learned was to avoid the S&L because they were 'dead men walking'. This was a couple of years prior to Reagan. The roots of the S&L crisis go back a very long way. I'm not giving Reagan's team a complete pass however. What happened in the mid 80s threw fuel on an already burning fire. And my recollection was that it had pretty bi-partisan support. After all it required legislative action and got through a Democratic controlled Congress. The S&L lobby was very strong back then, particularly on a state level. They had a strong voice with both parties. And there was enough blame to go around. Henry

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