The savings and loan crisis :lessons from a regulatory failure

• 其他作者: Barth, James R. , Trimbath, Susanne. , Yago, Glenn.
• 出版: Santa Monica, CA : Milken Institute :Springer Science + Business ©2004.
• 稽核項: 1 online resource (xxxviii, 391 pages) :illustrations.
• 叢書名: Milken Institute series on financial innovation and economic growth ;5
• 標題: Finance. , Savings and loan association failures. , BUSINESS & ECONOMICS Finance. , Deregulation , Savings and loan associations Deregulation. , Savings and loan association failures , Deregulation. , Savings and loan association failures United States. , Bank failures United States. , Bank failures. , Electronic books. , Savings and loan associations Deregulation -- United States. , Bank failures , United States. , Savings and loan associations , BUSINESS & ECONOMICS
• ISBN: 1402078986 , 9781402078989
• ISBN: 9781402078712 , 1402078714
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• 附註: Includes bibliographical references (pages 353-382) and index. What have we learned from the thrift and banking crises of the 1980s? / by George Kaufman -- The savings and loan debacle : a perspective from the early twenty-first century / by Lawrence J. White -- Some hope for the future, after a failed national policy for thrifts / by Arthur W. Leibold, Jr. -- Regulatory regimes and markets : the case of savings and loans / by Catherine England -- The savings and loan crisis : unresolved policy issues / by R. Dan Brumbaugh, Jr., and Catherine J. Galley -- Macroeconomic sources of the U.S. savings and loan crisis / by Michael D. Darby -- What lessons might crisis countries in Asia and Latin America have learned from the savings and loan mess? / by Edward J. Kane -- The lessons of U.S. savings and loan institutions : an international development perspective / by Kevin Villani -- The lesson of Lincoln : regulation as narrative in the savings and loan crisis / by Lawrence T. Nichols and James J. Nolan III -- Lincoln Savings : a coda / by Donald McCarthy -- The savings and loan crisis in hindsight : 20 years later / by James R. Barth, Susanne Trimbath and Glenn Yago -- The savings and loan crisis : five illustrative case studies / by Donald McCarthy -- Summing up : do savings and loans provide a useful perspective? / by Kenneth J. Thygerson -- A roundtable on the savings and loan crisis -- Review of the savings and loans literature.
• 摘要: Robert L. Bartley Editor Emeritus, The Wall Street Journal As this collection of essays is published, markets, regulators and society generally are sorting through the wreckage of the collapse in tech stocks at the turn of the millennium. All the more reason for an exhaustive look at our last "bubble," if that is what we choose to call them. We haven't had time to digest the lesson of the tech stocks and the recession that started in March 2001. After a decade, though, we're ready to understand the savings and loan "bubble" that popped in 1989, preceding the recession that started in July 1990. For more than a half-century, we can now see clearly enough, the savings and loans were an accident waiting to happen. The best insurance for financial institutions is diversification, but the savings and loans were concentrated solely in residential financing. What's more, they were in the business of borrowing short and lending long, accepting deposits that could be withdrawn quickly and making 20-year loans. They were further protected by Regulation Q, allowing them to pay a bit more for savings deposits than commercial banks were allowed to. In normal times, they could ride the yield curve, booking profits because long-term interest rates are generally higher than short-term ones. This world was recorded in Jimmy Stewart's 1946 film, It's a Wonderful Life
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