The Savings and Loan Crisis

Lessons from a Regulatory Failure

James R. Barth, S. Trimbath, Glenn Yago

$370.95 $296.98

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English

Springer-Verlag New York Inc.
20 July 2004

Credit & credit institutions

Series: The Milken Institute Series on Financial Innovation and Economic Growth

Summary
Details

Our nation's financial institutions operated profitably over

the decades despite periods of severe turmoil. Between 1980 and early

1995, however, 1,273 savings and loan associations, 1,569 commercial

and savings banks and 2,330 credit unions failed in the U.S. The cost

of resolving this crisis in the banking sector exceeded USD 190

billion.

The Savings And Loan Crisis: Lessons from a Regulatory Failure

sets the record straight about what actually happened to our banking

institutions in the 1980s. As is documented by the highly respected

and diverse group of former regulators, scholars and practitioners

contributing to this book, the collapse of this industry was caused by

a confluence of adverse economic conditions and misguided regulatory

decisions. Poorly designed deposit insurance, faulty supervision, and

restrictions on investments prevented savings and loans from adapting

to a changing financial marketplace. Unable to use financial

innovations, savings and loans could not hedge interest rate and

credit risks. These factors blocked portfolio diversification and lay

at the root of the crisis. The savings and loan crisis was an accident, but it was an avoidable

one. Most of the factors responsible for causing and exacerbating the

industry's problems were preventable, as is made clear in this volume.

This book also provides an insider's view of the transformation of the

financial services industry in the United States since the 1980s: how

the managers and owners make decisions about product offerings and

investments; how the regulators monitor performance and enforce the

rules; and how Congress and the Administration influence and are

influenced by the financial services industry.

Lastly, it focuses attention on the lessons that should have been

learned from this difficult period in the history of U.S. banking, and

that should help prevent future banking crises everywhere.

Edited by: James R. Barth, S. Trimbath, Glenn Yago
Imprint: Springer-Verlag New York Inc.
Country of Publication: United States
Edition: 2004 ed.
Volume: 5
Dimensions: Height: 235mm, Width: 155mm, Spine: 25mm
Weight: 1.750kg
ISBN: 9781402078712
ISBN 10: 1402078714
Series: The Milken Institute Series on Financial Innovation and Economic Growth
Pages: 394
Publication Date: 20 July 2004
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

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The Savings and Loan Crisis

Lessons from a Regulatory Failure

James R. Barth, S. Trimbath, Glenn Yago

$370.95 $296.98

Hardback

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