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: "The Reagan Deregulation Program

- Federal requirements that set maximum interest rates on savings
accounts were phased out. This eliminated the advantage previously held
by savings banks.
- Checking accounts could now be offered by any type of bank.
- All depository institution could now borrow from the fed in time of
need, a privilege that had been reserved for commercial banks. In
return all banks had to place a certain % of their deposits in the fed.
This gave the FED more control and stabilized state banks.
- Garn - St. Germain Act of 1982 allowed savings banks to now issue
credit cards, make non residential real estate loans and commercial
loans; actions previously only allowed to commercial banks. "

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