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> The FSL crisis was caused by wild-west deregulation, accounting practices which have since been banned, and resulted in a thousand convictions. I'm guessing
by jpmattia 4y ago
> The FSL crisis was caused by wild-west deregulation, accounting practices which have since been banned, and resulted in a thousand convictions.
I'm guessing you did not live through it: Like 2008, there were many causes. See eg the wiki: https://en.wikipedia.org/wiki/Savings_and_loan_crisis#Causes https://en.wikipedia.org/wiki/Savings_and_loan_crisis#Causes
But you also missed the heart of the matter: Money that was lost in the US, despite it having a regulated banking system.
- JumpCrisscross 4y ago> was lost in the US, despite it having a regulated banking system This is a straw man. Nobody claimed nobody in a regulated system ever loses money.
- jpmattia 4y ago> Nobody claimed nobody in a regulated system ever loses money. Only if you read the above questions literally and miss his meaning: > Into a mess for who? Depositors? > Could you summarize how much money depositors across the entire United States lost to bank busts over the past, say 40 years?
- JumpCrisscross 4y agoThe S&L crisis was a “crisis” because non-bank S&Ls lost money in a way depositors haven’t. You have still not pointed to a single American depositor losing money since 1982, though I’d extend that to the post-War era.