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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Zeev Hed who wrote (2954)	1/9/2001 11:35:57 PM
From: wonk	Read Replies (2) of 3536

Zeev: The S&L crisis wa no accident. It was the culmination of a series of (1)structural changes (2)ideological adherence to deregulation (3) political pandering at the Congressional level. The structural change was disintermediation that occurred throughout the 70s due to the tremendous rise in interest rates in conjunction with the development of alternatives, i.e., money market mutual funds. Legislation passed in the last year of the Carter Administration to address these issues was woefully inadequate (and in fact harmful, e.g. the increase in deposit insurance from 40 to 100K), the Reagan Administration had an unbroken string of Executive Branch regulatory blunders and Congress - as it always is - was wrongly influenced by too much money, i.e., campaign contributions. All except the latter is well summarized here: fdic.gov ww

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