Dec 4, 2008

Salem on History | Bush Responds to the Savings and Loan Crisis

At a glance:

Series: Great Events from History II: Business and Commerce Series
Categories: Government and Politics, Economics
Subcategories: Business, Laws, Acts, Legislation, Banks, Banking, Finance
Curriculum: American History 1951-present
Geographical Location: Washington, D.C.
Date: August 9, 1989

Article abstract: The Financial Institutions Rescue, Recovery, and Enforcement Act of 1989 was passed to bail out the savings and loan industry and to strengthen its regulatory standards.

Summary of Event

On August 9, 1989, President George Bush signed into law the long-awaited legislation designed to stem the stream of losses in the savings and loan industry. The Financial Institutions Rescue, Recovery, and Enforcement Act (FIRREA) had four explicit goals. The first was to improve the ability of regulators to supervise savings institutions by...

[The entire page is 2205 words long]

Salem on History | Bush Responds to the Savings and Loan Crisis

At a glance:

Summary of Event

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