The S&L Debacle: Public Policy Lessons for Bank and Thrift Regulation
Language: English
Published by Oxford University Press, 1992
- Softcover
- Used
Seller: More Than Words, Waltham, MA, U.S.A.More Than Words
AbeBooks seller since November 30, 2010
Condition: Used - Good
£ 2.04
Quantity: 1 available
Add to basketItem description from seller
. . All orders guaranteed and ship within 24 hours. Before placing your order for please contact us for confirmation on the book's binding. Check out our other listings to add to your order for discounted shipping.
Seller Inventory # WAL-P-1b-02188
- Title
- The S&L Debacle: Public Policy Lessons for Bank and Thrift Regulation
- Author
- White, Lawrence J.
- Publisher
- Oxford University Press
- Publication year
- 1992
- Condition
- Good
- Binding
- Soft cover
- Language
- English
- ISBN 10
- 019507484X
- ISBN 13
- 9780195074840
Surveying the modern course of the thrift industry, from the Federal Home Loan Bank Act of 1932 to the current efforts at restructuring, Lawrence J. White addresses the essential questions of the S&L crisis: what happened, how it happened, why it happened, and what must be done so that it never happens again. White, who from November 1986 to August 1989 was a Board Member of the Federal Home Loan Bank Board--the government agency that regulated S&Ls and insured their deposits through the FSLIC--combines his knowledge as an insider with the insights of an economist to bring a much-needed fresh perspective on the S&L mess. He shows that, rather than the result of widespread fraud, the crisis was rooted in the highly unusual economic conditions of the early 1980s, poorly thought-out deregulatory policies, and flawed accounting practices.
The S&L Debacle reveals that the banking system of the late 1970s was anachronistic. Tightly regulated thrifts were locked into portfolios of long-term mortgages and limited in the interest rates that they could pay to depositors. When interest rates soared, the thrifts experienced heavy losses. Clearly, adjustment in the industry was necessary, and the economic deregulatory policies implemented in the early 1980s were long overdue. But White points out that these policies should have been accompanied by strengthened safety-and-soundness regulations. Instead, safety-and-soundness rules were also deregulated, bringing a deadly combination of opportunities, capabilities, and incentives for risk-taking that spelled disaster for hundreds of thrifts--and ultimately for the FSLIC insurance fund and the U.S. taxpayer.
White offers far-reaching recommendations for reform, such as better methods of gathering information about thrifts before they become insolvent, risk-related net worth requirements, risk-based insurance premiums--so that deposit insurance is treated more like other forms of insurance--and stronger powers of early intervention by regulators.
With its comprehensive overview, incisive analysis, and clear, nontechnical language, this book is important reading for anyone hoping to understand the S&L crisis and will be an essential guide for economists and policymakers of the future.
"Synopsis" may belong to another edition of 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 recently International Trade in Ocean Shipping Services: The U.S. and the World (1988).
"About the title" may belong to another edition of this title.
More Than Words
Waltham, MA, U.S.A.
AbeBooks seller since November 30, 2010
Shipping rates within U.S.A.
| Item | 5 to 14 business days | 3 to 6 business days |
|---|---|---|
| First item | £ 3.01 | £ 5.27 |
Payment methods
Store description
More Than Words (MTW) is a social enterprise that empowers youth who are in the foster care system, court involved, homeless, or out of school to take charge of their lives by taking charge of a business. By working as a team to manage their own retail and online used book business, café, and community space, youth develop the employment skills, leadership, and self-confidence they need to successfully transition to adulthood.
Seller's business information
More Than Words
376 Moody Street
Waltham, MA U.S.A. 02453
Terms of sale
We guarantee the condition of every book as it¿s described on the Abebooks web sites. If you¿re dissatisfied with your purchase (Incorrect Book/Not as Described/Damaged) or if the order hasn¿t arrived, you¿re eligible for a refund within 30 days of the estimated delivery date. If you¿ve changed your mind about a book that you¿ve ordered, please use the Ask bookseller a question link to contact us and we¿ll respond within 2 business days.
Right of withdrawal
If you are a consumer you can withdraw from the contract in accordance with the following. Consumer means any natural person who is acting for purposes which are outside his trade, business, craft or profession.
Information regarding the right of withdrawal
Statutory right to withdraw
You have the right to withdraw from this contract within 14 days without giving any reason.
The withdrawal period will expire after 14 days from the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the last good or the last lot or piece.
To exercise the right of withdrawal, electronically fill in and submit a clear statement on our website, under "My Purchases" in "My Account". We will communicate to you an acknowledgement of receipt of such a withdrawal on a durable medium (e.g. by e-mail) without delay.
To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.
Effects of withdrawal
If you withdraw from this contract, we will reimburse to you all payments received from you, including the costs of delivery (except for the supplementary costs arising if you chose a type of delivery other than the least expensive type of standard delivery offered by us).
We may make a deduction from the reimbursement for loss in value of any goods supplied, if the loss is the result of unnecessary handling by you.
We will make the reimbursement without undue delay, and not later than 14 days after the day on which we are informed about your decision to withdraw from this contract.
We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement.
We may withhold reimbursement until we have received the goods back, or you have supplied evidence of having sent back the goods, whichever is the earliest.
You shall send back the goods or hand them over to More Than Words, Vancouver, Washington, U.S.A., without undue delay and in any event not later than 14 days from the day on which you communicate your withdrawal from this contract to us. The deadline is met if you send back the goods before the period of 14 days has expired. You will have to bear the direct cost of returning the goods. You are only liable for any diminished value of the goods resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the goods.
Exceptions to the right of withdrawal
The right of withdrawal does not apply to:
- The delivery of newspapers, journals or magazines with the exception of subscription contracts; and
- The supply of digital content which is not supplied on a tangible medium (e.g. on a CD or DVD) if you accepted when you placed your order that we could start to deliver it, and that you could not withdraw once delivery had started.
Shipping terms
Shipping costs are based on books weighing 2.2 LB, or 1 KG. If your book order is heavy or oversized, we may contact you to let you know extra shipping is required.