From: JAB <here@is.invalid>
Newsgroups: can.politics
Subject: Re: Trump says he'll raise U.S. tariffs on Canada by 10% after Reagan ad
Date: Mon, 27 Oct 2025 18:37:25 -0500
Organization: A noiseless patient Spider
On Mon, 27 Oct 2025 21:37:02 -0000 (UTC), Dhu on Gate
<campbell@neotext.ca> wrote:
>He fucked America's Banking system with his Savings
>and Loan scamms and it's never recovered.
Starting in 1979 and through the early 1980s, the Federal Reserve
sharply increased interest rates in an effort to reduce inflation. At
that time, thrifts had issued long-term loans at fixed interest rates
that were lower than prevailing deposit rates. Attempts to attract
more deposits by offering higher interest rates led to liabilities
that could not be paid-for by the lower interest rates at which they
had loaned money. Nor could outflowing deposits simply be paid out by
sale of now less-valuable assets. The result was that about one third
of S&Ls became insolvent, causing a first wave of failures in 1981-83.
https://en.wikipedia.org/wiki/Savings_and_loan_crisis