Barbara Rudolph: “The Savings and Loan Crisis: Finally the Bill Has Come Due”
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Barbara Rudolph: “The Savings and Loan Crisis: Finally the Bill Has Come Due”
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Abstract
America’s failed savings and loans have become the country’s biggest, most scandalous financial mess. Devastated by a legacy of bad management, rampant fraud and inept Government supervision, more than 500 of the 3,150 federally insured thrifts had fallen into insolvency as of the beginning of last year. Because the U.S. failed to own up to the problem and launch a major rescue soon enough, the cost has now grown higher than almost anyone had imagined. Says Michigan Democrat Donald Riegle, chairman of the Senate Banking Committee: “We’ve never faced a problem of this scale. The answers aren’t going to be happy ones.”
Contents
- The U.S. Banking Industry: Historical Overview
- Proposition for the Bank of North America
- Charter for the Bank of New York
- George Washington: Letter to Alexander Hamilton on the First National Bank
- Alexander Hamilton: Letter to Washington on the First National Bank
- Act to Incorporate the Subscribers to the Bank of the United States
- McCulloch v. Maryland
- D. Boyd: Letter to William Hayes
- Andrew Jackson: Veto Message Regarding the Second Bank of the United States
- National Bank Act of 1863
- Bylaws of the Freedman’s Saving’s and Trust Company
- Mark Twain and Charles Dudley Warner: The Gilded Age: A Tale of Today
- Formation of the American Bankers’s Association
- Maggie L. Walker: Speech at the 34th Annual Session of the Right Worthy Grand Council of Virginia
- Bankruptcy Catalogue of Stocks, Bonds, and Lands of the Estate of Jay Cooke & Co.
- “The Great Cleveland Panic of 1893”
- Wall Street and the Panic of 1907
- “Morgan! Who Saved the Day!”
- Nelson W. Aldrich: Plan for Banking Legislation
- Federal Reserve Act of 1913
- Agreement Regarding the Distribution of the Dawes Annuities
- Herbert Hoover: Campaign Speech
- Franklin D. Roosevelt: Fireside Chat on the Banking Crisis
- : Banking Act of 1933
- Annual Report of the Federal Deposit Insurance Corporation for 1939
- Gardner Ackley: Testimony before the Joint Economic Committee
- Barbara Rudolph: “The Savings and Loan Crisis: Finally the Bill Has Come Due”
- Charles A. Bowsher: The Budgetary Treatment of the Proposed Resolution Funding Corporation (REFCORP)
- Donald L. Kohn: “The Federal Reserve’s Policy Actions during the Financial Crisis”
- Dodd-Frank Wall Street Reform and Consumer Protection Act
- Marc Labonte: “The Federal Reserve’s Response to COVID-19: Policy Issues”