Savings and loan crisis

The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of 1,043 out of the 3,234 savings and loan associations in the United States. It lasted from 1986 to 1995. In 1996, the General Accounting Office estimated the total cost to be $160 billion, including $132.1 billion taken from taxpayers.

The man behind the crisis was Charles Keating. He was sentenced for his involvement of the crisis. Some people blame Ronald Reagan for the crisis because he signed the Tax Reform Act of 1986 which some might think was a direct result of the crisis.

Savings And Loan Crisis Media

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  Mortgages and interest rates*

    30 year fixed rate mortgage

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    15 year fixed rate mortgage

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    5/1 adjustable rate mortgage

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    10 year treasury yield

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    Effective Federal funds rate

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    Inflation Consumer price index
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  Paul Volcker, former head of the Federal Reserve Board

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  President Ronald Reagan signs the Economic Recovery Tax Act of 1981 (ERTA) bill at Rancho del Cielo in 1981

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  Neil Bush, chairman of the Points of Light Institute, and Mark Gearan, chair of the federal agency the Corporation for National and Community Service (CNCS).

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  U.S. Speaker of the House, Jim Wright of Texas