S.& L.Debacle: Public Policy Lessons for Bank and Thrift Regulation - Hardcover

White, Lawrence J.

Hardcover

ISBN 10: 0195067339 ISBN 13: 9780195067330

Publisher: Oxford University Press Inc, 1991

Synopsis

This book describes the period of failures of savings and loan associations and sets out a program of policies to prevent future debacles. It explains the regulatory actions, and inactions, that created the incentives for large numbers of thrifts to make excessively risky and ill-conceived - and in some cases, fraudulent and criminal - investments. It describes the failure of the accounting system to provide adequate information to regulators (and, in many cases, even to the managers of the thrifts themselves) concerning the health and riskiness of individual thrifts. It also discusses how the regulatory system that had been conceived in an earlier and highly regulated era was overwhelmed in the deregulated environment of the early 1980s. It shows how the reforms that were made in response to the growing crisis were too little and too late. And, finally, it offers a set of policy reforms that could prevent future crises in the savings and loan industry. This work should be of interest to political and financial economists.

About this title

About the Author

About the Author:
Lawrence J. White is Arthur E. Imperatore Professor of Economics at New York University's Stern School of Business. He is the author of many books, most recentlyInternational Trade in Ocean Shipping Services: The U.S. and the World (1988).

Edition details

• Publisher: Oxford University Press Inc
• Publication date: 1991
• Language: English
• ISBN 10: 0195067339
• ISBN 13: 9780195067330
• Binding: Hardcover
• Number of pages: 301