Vision Thing: The Savings and Loan Debacle

Geoffrey D. Klinger, Jennifer Adams () and Kevin Howley ()
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Geoffrey D. Klinger: DePauw University
Jennifer Adams: DePauw University
Kevin Howley: DePauw University

Chapter Chapter 9 in Money Talks, 2022, pp 143-159 from Springer

Abstract: Abstract On October 15, 1982, President Reagan signed the Garn-St. Germain Act. It was a hallmark piece of Reagan’s agenda to deregulate the banking industry. With the stroke of his pen, Reagan officially removed the regulations governing the Savings and Loan Industry that had been in place since the 1930s. This chapter examines the consequences of that legislation. Indeed, the end result could not have been entirely unexpected: massive failures in the Savings and Loan Industry allowing major banking powers to acquire their weaker counterparts for pennies on the dollar, much as they had during the Great Depression.

Keywords: Alan Greenspan; Banking industry; Deregulation; Garn-St. Germain Act; George H. W. Bush; Savings & Loan Crisis (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-00816-0_9

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DOI: 10.1007/978-3-031-00816-0_9

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