During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.
In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. — Long-Term Capital Management (LTCM).
Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system.
Once again, big banks were deemed too big to fail and taxpayers came to the rescue.
MarketWatch 5 April 2021
The Savings and Loans Bailout
Save the last dance for me
WAITING FOR THE LAST DANCE