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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: American Spirit who wrote (113911)1/29/2008 5:22:50 PM
From: Brumar89  Read Replies (1) of 173976
 
First off, the S&L industry had serious problems dating from disintermediation from the '70's on. As for TX and nearby regions S&L's, clearly the crash in energy prices in the '80's caused most of the regional problems. I was in Houston in the '80's and it was common for one or two houses per block to be boarded up - with the homeowners walking away. With low and falling natural gas and oil prices, the energy industry had massive layoffs.

Of course, I'm describing reality, not demented leftwing fantasies.
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