aug 15, 1982 - 1982
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Congress allows S&L banks to make risk loans and investments that could jeopardize the bank. Due to decrease in popularity of S&L banks to their competition mainly because of restriction of low interest rates. The problem was that S&L made terrible investments that cause the crisis to occur and the federal government had to give money back to investors for a debt of $200 billion. This lead to the Federal Deposit Insurance Competition to take control over the S&L banks.
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History of Banking
Module 13 Lesson 2 Mastery Assignment
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