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Politics : Did Slick Boink Monica? -- Ignore unavailable to you. Want to Upgrade?

To: Lady Lurksalot who wrote (6457)	2/13/1998 4:04:00 PM
From: IceShark	Read Replies (1) \| Respond to of 20981

Holly, I think you are going a bit far in linking the Gulf War motivations to the S&L problems. Or, those responsible for it. S&Ls got set up when Big Brother decided to let the S&Ls go into uncharted waters by taking restrictions off on what type of lending activity they could engage in, while keeping FSLIC insurance in place. S&Ls made enough dubious loans to put them in deep doo-doo, as someone's father used to say. -vbg- Then when the Feds pulled the rug out under from real estate, and more or less every other tax shelter, with the Tax Reform Act of '86, it was all over but the shouting. Plenty of blame to go around over an awfully long period of time. Regards, DWW