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When exactly did America collectively repress all memory of the 1980s savings and loan crisis, then the biggest banking calamity since the Great Depression?
Before subprime, “S&L” was the mother of all too-big-to-fail meltdowns: More than 1,000 banks with total assets of over $500 billion fell, costing the taxpayer upwards of $150 billion. The ordeal exacerbated an already-bad recession (PDF).
via Is Wall Street Now Too Big to Care? – Businessweek.
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