The S & L debacle: public policy lessons for bank and thrift regulation
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | Undetermined |
| Published: |
New York u.a.
Oxford Univ. Press
1991
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XIV, 287 S. |
| ISBN: | 0195067339 |
Staff View
MARC
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Record in the Search Index
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| adam_text | THE S amp;L
DEBACLE
Public Policy Lessons
for Bank and Thrift
Regulation
LAWRENCE J WHITE
NEW YORK UNIVERSITY
New York Oxford
OXFORD UNIVERSITY PRESS
Contents
A Brief Glossary xiii
One Introduction 3
An Oueruiew of the Book 5
PARTI: Background 11
Two The Thrift Industry: A Recent Picture 13
The Relative Size and Importance of the Thrift Industry 14
Important Characteristics ofSAIF-Insured Thrifts,
Circa 1989 17
Recent Trends 18
Three The Regulatory Framework and the Importance
of Accounting 25
The Structure and Substance of Thrift Regulation 33
A Simple Accounting Framework 36
Insights from the Accounting Examples 38
PART II: Prelude, Deregulation, and the Debacle 51
Four Developments before 1980 53
Establishing the Thrift Regulatory Structure 53
Postwar Growth and Prosperity 58
The Flaw: Borrowing Short and Lending Long 61
Five The Interest Rate Squeeze and the Policy
Responses, 1979-1982 67
The Interest Rate Squeeze 67
The Policy Responses 72
A Hindsight Analysis and Critique 74
Making It Worse: Lowering Net Worth Standards and
Changing the Accounting Rules 82
Making It Worse: Reducing Regulatory Scrutiny 88
No Cassandras 90
A Further Irony 92
A Summing-Up of the Perverse Responses 93
Appendix 94
Contents
Six The Debacle, 1983-1985 99
Rapid Growth 100
Compounding the Problem 106
Why the Delay in Reported Insolvencies ? 112
Which Thrifts Failed? 113
Fraud and Criminal Activity 115
Where Did the Money Go? 118
PART III: Regulatory Response and Cleanup 123
Seven Tightening the Regulations and Recapitalizing the
FSLIC, 1985-1987 125
Brokered Deposits: A False Start 126
Strengthening the Regulatory Structure 128
The Consequences 131
Recapitalizing the FSLIC 135
Would Earlier Congressional Action Have Made a
Difference? 140
Eight Beginning the Cleanup, 1988 147
Preparing for 1988 148
The Strategy and Its Outcome 152
Disposing of an Insolvent Thrift: The BasicFeatures 154
The Structure oftheFSLICs 1988 Transactions 157
Were theFSLIC s Transactions Bailouts? 160
Wen the 1988 Transactions Financially Sound? 164
A Summing Up 169
Nine The FIRREA, 1989 175
TheFIRREA: The Basic Structure 176
A Critique of theFIRREA 180
How Much Will It Cost? 193
Who Should Pay? 198
PART IV: Reforming Deposit Insurance and Bank and
Thrift Regulation 205
Ten Regulation, Depository Insurance, and the Lessons and
Analogies from Other Types of Insurance 207
Why Safety-and-Soundness Regulation and Deposit
Insurance? 207
Contents xi
Some Lessons from Insurance 211
Exploring the Analogies from Insurance 213
Additional Tools 218
Eleven Fundamental Reforms for Bank and Thrift Regulation
and for Deposit Insurance 223
Market Value Accounting 225
Net Worth (Capital) Requirements 229
Risk-Based Insurance Premiums 231
Prompt Disposal and Early Intervention 232
The Extent of Deposit Insurance Coverage 235
Expanded Use ofLongTerm Subordinated Debt 237
The Treasury as Backup 239
Allowable Activities: The Depository, the Holding Company,
and their Financial Relationships 240
Using Evidence to Support Regulations 243
Education 244
Are More Radical Reforms Necessary? 244
Twelve Conclusion 251
Technological Change and Increasing Competition 252
Do Thrifts Have aFuture? 256
Reviewing the Lessons of the Debacle 259
Bibliography 265
Index 277
|
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| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.320973 |
| dewey-search | 332.320973 |
| dewey-sort | 3332.320973 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| era | Geschichte 1979-1989 gnd |
| era_facet | Geschichte 1979-1989 |
| format | Book |
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| indexdate | 2024-07-09T16:14:46Z |
| institution | BVB |
| isbn | 0195067339 |
| language | Undetermined |
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| physical | XIV, 287 S. |
| publishDate | 1991 |
| publishDateSearch | 1991 |
| publishDateSort | 1991 |
| publisher | Oxford Univ. Press |
| record_format | marc |
| spelling | White, Lawrence J. 1943- Verfasser (DE-588)124743765 aut The S & L debacle public policy lessons for bank and thrift regulation Lawrence J. White New York u.a. Oxford Univ. Press 1991 XIV, 287 S. txt rdacontent n rdamedia nc rdacarrier Geschichte 1979-1989 gnd rswk-swf Savings and loan association (DE-588)4518559-1 gnd rswk-swf Sparkasse (DE-588)4056030-2 gnd rswk-swf Bankpolitik (DE-588)4004470-1 gnd rswk-swf Korruption (DE-588)4032524-6 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Sparkasse (DE-588)4056030-2 s Korruption (DE-588)4032524-6 s Geschichte 1979-1989 z DE-604 Bankpolitik (DE-588)4004470-1 s Savings and loan association (DE-588)4518559-1 s HEBIS Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002825102&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | White, Lawrence J. 1943- The S & L debacle public policy lessons for bank and thrift regulation Savings and loan association (DE-588)4518559-1 gnd Sparkasse (DE-588)4056030-2 gnd Bankpolitik (DE-588)4004470-1 gnd Korruption (DE-588)4032524-6 gnd |
| subject_GND | (DE-588)4518559-1 (DE-588)4056030-2 (DE-588)4004470-1 (DE-588)4032524-6 (DE-588)4078704-7 |
| title | The S & L debacle public policy lessons for bank and thrift regulation |
| title_auth | The S & L debacle public policy lessons for bank and thrift regulation |
| title_exact_search | The S & L debacle public policy lessons for bank and thrift regulation |
| title_full | The S & L debacle public policy lessons for bank and thrift regulation Lawrence J. White |
| title_fullStr | The S & L debacle public policy lessons for bank and thrift regulation Lawrence J. White |
| title_full_unstemmed | The S & L debacle public policy lessons for bank and thrift regulation Lawrence J. White |
| title_short | The S & L debacle |
| title_sort | the s l debacle public policy lessons for bank and thrift regulation |
| title_sub | public policy lessons for bank and thrift regulation |
| topic | Savings and loan association (DE-588)4518559-1 gnd Sparkasse (DE-588)4056030-2 gnd Bankpolitik (DE-588)4004470-1 gnd Korruption (DE-588)4032524-6 gnd |
| topic_facet | Savings and loan association Sparkasse Bankpolitik Korruption USA |
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