Talk:Savings and loan crisis
An interesting quote from a more mainstream source is here, doesn't quite fit anywhere in the article though:
- "Sometimes forbearance . . . is the right way to go, and sometimes it is not. In the S&L industry, all rules and standards were conveniently overlooked to avoid a financial collapse and the intense local political pressure that such a collapse would have generated. But in this case there was not a visible plan for a recovery, so the result of this winking at standards was, as we know, a national financial disaster. On the other hand, in the case of Latin American loans, forbearance gave the lending banks time to make new arrangements with their debtors and meanwhile acquire enough capital so that losses on Latin American loans would not be fatal. Like medicine and the other healing arts, bank regulation is an art, not a science."
The contents of the page should be sufficient; the text could be polished a bit more as it is glued together from several sources, but so be it for now. Pestergaines 02:49, 16 June 2011 (MSD)