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.
Inhaltsverzeichnis
Introduction; 1. A movement takes shape, 1831-99; 2. The rise of the league, 1900-29; 3. From State to Federal oversight; 4. The movement becomes an industry, 1930-45; 5. The glory years, 1946-55; 6. External challenges and internal divisions, 1956-66; 7. Lost opportunities, 1967-79; 8. Deregulation and disaster 1979-88; 9. Resolving the crisis, restoring the confidence, 1989-95; 10. The American savings and loan industry in perspective; Appendices; Bibliography; Index.
