Mises Daily
Author:
H.A. Scott Trask
Online Publish Date:
southwestern real estate boom of the mid-1980s. When the crash of 1987 rocked the markets, the S&Ls tottered and fell. While many blamed lax regulation and political should not be allowed to fail. The crisis illustrated a sobering lesson. In a market already distorted by extensive government regulations, high taxes, and prevent a general bank suspension nor prove adequate in case of a collective failure. These warnings were borne out. The Safety Fund did not deter the banks of