OT - Reagan's deregulation did cause the S&L crisis in the 80's

OT - Reagan's deregulation did cause the S&L crisis in the 80's: "Steps Taken to Solve the S&L Crisis

- Passed the Financial Reform, Recovery and Enforcement Act (FIRREA)
- Abolished the independence of the S&L industry.
- Abolished the Federal Home Loan Bank Board which gad been in charge
of supervising S&L's
- New agency Office of Thrift Supervision (OTS) created as part of the
executive branch.
- Changed Federal Insurance.
- FSLIC eliminated and responsibilities transferred to FDIC.
- T wo separate funds were created within the FDIC:
- SAIF - Savings and Loan Insurance Fund - for all savings type
banks.
- BIF - Bank Insurance Fund - for commercial banks.
- Resolution Trust Company (RTF) created to dispose of failed thrifts.
"

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