OT - Reagan's deregulation did cause the S&L crisis in the 80's: "In 1980 the US had 4,600 thrifts, by 1988 mergers and bankruptcies
left 3000. By the mid 1990's less than 2000 survived.
- The S&L crisis cost about 600 Billion dollars in "bailouts." This is
1500 dollars from every man woman and child in the US.
- In summary, the S&L crisis was caused by deregulation which led to
high interest rates that then collapsed. Other causes included
inadequate capital and defrauding shorthanded government regulatory
agencies (less regulators and inspectors). "
'via Blog this'
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