The Savings and Loan Crisis: Lessons from a Regulatory by James R. Barth

By James R. Barth

This publication additionally offers an insider's view of the transformation of the monetary prone within the usa because the Nineteen Eighties: how the managers and vendors make judgements approximately product choices and investments; how the regulators visual display unit functionality and implement the principles; and the way Congress and the management impact and are prompted through the monetary providers undefined.

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Additional resources for The Savings and Loan Crisis: Lessons from a Regulatory Failure

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How managements respond through business strategy, financial management, restructuring of operations, and capitalization informs the ongoing debate about the role of the government in deregulating, reregulating, and overregulating the savings and loan industry and financial institutions in general. 8 Robert E. Litan noted in The Wall Street Journal (July 29, 1993) that the savings and loan industry was insolvent by more than $100 million by 1981. xxxiii It is axiomatic that strong financial institutions provide the institutional infrastructure for a growth economy.

R. 3717 and S. 1945. 10 George C. Kaufman of their insured depositories and made it considerably easier for depositors to divide larger accounts into smaller accounts at multiple banks that could qualify for full insurance coverage. These analysts fear that another increase would produce similar adverse effects and may again prove costly to the taxpayer. S. Senate on Superior’s failure 8 (with a call for greater commitment by the regulators to the concept of prompt corrective action and recommended sensitivity training to raise their awareness levels (Kaufman, 2001b).

Michael Darby suggests that the root causes of the savings and loan crisis were monetary. At the Federal Reserve before Paul Volcker’s tenure, there was a failure to fully understand that inflation is a monetary phenomenon. In thinking that money didn’t matter and thus allowing the money supply to grow out of control, the Federal Reserve sowed the seeds for double-digit inflation and ultimately for the decimation of the savings and loan industry. S. savings and loan crisis. Crises in 9 10 See “Proceedings of the Savings and Loan Roundtable” in this volume for more detail.

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