From Buildings and Loans to Bail-Outs: A History of the American Savings and Loan Industry, 1831-1995 Book + PRICE WATCH * Amazon pricing is not included in price watch

From Buildings and Loans to Bail-Outs: A History of the American Savings and Loan Industry, 1831-1995 Book

This is the first complete history of the American thrift industry from its origins in the mid-nineteenth century through the resolution of the savings and loan crisis in the 1990s. Because S&Ls offer affordable forms of consumer finance, these institutions have helped millions of people achieve the "American Dream" of home ownership. The thrift crisis of the 19080s and early 1990s dealt a severe blow to the financial health and reputation of the industry, and this book examines the events that precipitated the thrift crisis, the ways government resolved it, and how the industry reinvented itself in its aftermath.Read More

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  • Product Description

    For most Americans, the savings and loan industry is defined by the fraud, ineptitude, and failures of the 1980s. These events, however, overshadow a long history in which thrifts played a key role in helping thousands of households buy homes. First appearing in the 1830s, savings and loans, then known as building and loans, encouraged their working-class members to adhere to the principles of thrift and mutual cooperation as a way to achieve the 'American Dream' of home ownership. This book traces the development of this industry, from its origins as a movement of loosely affiliated collection of institutions, into a major element of America's financial markets. It also analyses how diverse groups of Americans, including women, ethnic-Americans, and African-Americans, used thrifts to improve their lives and elevate their positions in society. The book ends with an analysis of the efforts to rehabilitate the industry in the 1990s.

  • 052182754X
  • 9780521827546
  • David L. Mason
  • 5 July 2004
  • Cambridge University Press
  • Hardcover (Book)
  • 362
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