Savings And Loan Crisis Definition
Savings And Loan Crisis – S&L of the 1980s and 1990s created the greatest banking collapse since the Great Depression of 1929. It caused the failure of 747 savings and loan institutions in the United States. More than half the Savings and Loans had failed by 1989, along with the fund that was created to insure their deposits. The cost of the crisis totaled around $160.1 billion, most of which was covered by the U.S. government via a financial bailout.