John F. Haugh II
jfh at rpp386
Sat Feb 25 14:35:29 EST 1995
In article <rxxj30-200295133141 at davids_machine.sps.mot.com> rxxj30 at sps.mot.com (David Horton) writes:
>Can you say Savings and Loan scandel?? The Reagan administration slashed
>the number of Bank/S&L investigators on staff, allowed S&Ls to begin making
>riskier types of real estates loans, and depended upon the honesty of the
>S&L directors to keep things in check. Now exactly how many billion $ was
>stolen? And how much has been recovered?
Bank deregulation began under Jimmy Carter. You are free to review the
Congressional Record. It will detail the changes in laws affecting
banks and when they were passed.
One of the largest contributors to the cost of the S&L bailout was the
notion that 100% of all deposits would be covered. I had 4 banks fail
while I had deposits at them and to the best of my knowlege not a single
one limited their payouts to the $100,000 limit.
John F. Haugh II [ NRA-ILA ] [ Kill Barney ] !'s: ...!cs.utexas.edu!rpp386!jfh
Ma Bell: (512) 251-2151 [GOP][DoF #17][PADI][ENTJ] @'s: jfh at rpp386.cactus.org
The ultimate solution to the homeless problem: Cut down the Pacific Northwest
forests and kill all the owls. Build houses with the wood and cook the birds!
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