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

• This building at 1700 G St NW in Washington, DC, now occupied by the Consumer Financial Protection Bureau, housed the Federal Home Loan Bank Board from the 1970s onward. It was built in 1976.

• Federal Home Loan Bank Board members, pictured in the Board's 1985 annual report. From left to right, Donald I. Hovde, Edwin J. Gray (chairman), and Mary A. Grigsby.

• FLHBB was headquartered in this building at 1700 G St NW in Washington DC, here depicted in a photograph on the cover of the December 1984 issue of the FHLBB Journal.

• Total Savings & Loans Institutions in the United States.webp

  Total Savings & Loans Institutions in the United States

• Federal Home Loan Bank Board members, 1988.png

  The final members of the Federal Home Loan Bank Board, pictured in its 1988 annual report. The chairman M. Danny Wall, in center, became the first director of the Office of Thrift Supervision pursuant to FIRREA.