The Case for Banking Deregulation
Publication Date: March 1982
Publisher(s): Heritage Foundation (Washington, D.C.)
Author(s): Catherine England
While complete catastrophe is very unlikely, American financial institutions are facing a crisis unprecendented since the early 1930s. Savings and loan associations have been particularly hard hit. Holding almost $700 billion in deposits, these institutions were expected to suffer collective losses of $5 billion in 1981 with 75 percent of the S & Ls and savings banks incurring operating losses during the year. Unless economic conditions change dreastically or some action is taken soon, catastrophe on a lesser scale is sure to overtake the industry.