The S & L Debacle

The S & L Debacle
Author :
Publisher : Oxford University Press, USA
Total Pages : 287
Release :
ISBN-10 : 019507484X
ISBN-13 : 9780195074840
Rating : 4/5 (840 Downloads)

Book Synopsis The S & L Debacle by : Lawrence J. White

Download or read book The S & L Debacle written by Lawrence J. White and published by Oxford University Press, USA. This book was released on 1992 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many Americans have viewed the S&L crisis as the ultimate example of greed's pervasiveness in our society. Yet the personalities that have dominated the news have obscured the real issues behind the worst debacle in our nation's financial history. Surveying the modern course of the thrift industry, from the Federal Home Loan Bank Act of 1932 to the current efforts at restructuring, Lawrence J. White addresses the essential questions of the S&L crisis: what happened, how it happened, why it happened, and what must be done so that it never happens again. White, who from November 1986 to August 1989 was a Board Member of the Federal Home Loan Bank Board--the government agency that regulated S&Ls and insured their deposits through the FSLIC--combines his knowledge as an insider with the insights of an economist to bring a much-needed fresh perspective on the S&L mess. He shows that, rather than the result of widespread fraud, the crisis was rooted in the highly unusual economic conditions of the early 1980s, poorly thought-out deregulatory policies, and flawed accounting practices. The S&L Debacle reveals that the banking system of the late 1970s was anachronistic. Tightly regulated thrifts were locked into portfolios of long-term mortgages and limited in the interest rates that they could pay to depositors. When interest rates soared, the thrifts experienced heavy losses. Clearly, adjustment in the industry was necessary, and the economic deregulatory policies implemented in the early 1980s were long overdue. But White points out that these policies should have been accompanied by strengthened safety-and-soundness regulations. Instead, safety-and-soundness rules were also deregulated, bringing a deadly combination of opportunities, capabilities, and incentives for risk-taking that spelled disaster for hundreds of thrifts--and ultimately for the FSLIC insurance fund and the U.S. taxpayer. White offers far-reaching recommendations for reform, such as better methods of gathering information about thrifts before they become insolvent, risk-related net worth requirements, risk-based insurance premiums--so that deposit insurance is treated more like other forms of insurance--and stronger powers of early intervention by regulators. With its comprehensive overview, incisive analysis, and clear, nontechnical language, this book is important reading for anyone hoping to understand the S&L crisis and will be an essential guide for economists and policymakers of the future.


The S & L Debacle Related Books

The S & L Debacle
Language: en
Pages: 287
Authors: Lawrence J. White
Categories: Savings and loan associations
Type: BOOK - Published: 1992 - Publisher: Oxford University Press, USA

GET EBOOK

Many Americans have viewed the S&L crisis as the ultimate example of greed's pervasiveness in our society. Yet the personalities that have dominated the news ha
Mathematical Aspects of Signal Processing
Language: en
Pages: 257
Authors: Pradip Sircar
Categories: Computers
Type: BOOK - Published: 2016-10-13 - Publisher: Cambridge University Press

GET EBOOK

"Discusses the mathematical concepts and their interpretations in the field of signal processing"--
The Development of Alcohol Problems
Language: en
Pages: 470
Authors: Robert A. Zucker
Categories: Alcohol in the body
Type: BOOK - Published: 1994 - Publisher:

GET EBOOK

Engineering Analysis
Language: en
Pages: 494
Authors: Zhihe Jin
Categories: Technology & Engineering
Type: BOOK - Published: 2024-05-20 - Publisher: Elsevier

GET EBOOK

Engineering Analysis: Advanced Mathematical Methods for Engineers introduces graduate engineering students to the fundamental but advanced mathematics tools use
Spectral Methods for Non-Standard Eigenvalue Problems
Language: en
Pages: 130
Authors: Călin-Ioan Gheorghiu
Categories: Mathematics
Type: BOOK - Published: 2014-04-22 - Publisher: Springer Science & Business

GET EBOOK

This book focuses on the constructive and practical aspects of spectral methods. It rigorously examines the most important qualities as well as drawbacks of spe