What is Savings and loan crisis?
The '''savings and loan crisis''' of the 1980s and 1990s (commonly dubbed the '''S&L crisis''') was the failure of 1,043 out of the 3,234 [[savings and loan association]]s in the [[United States]]. It lasted from 1986 to 1995. In 1996, the [[Government Accountability Office|General Accounting Office]] estimated the total cost to be $160 billion, including $132.1 billion taken from taxpayers.<ref>Wilentz, Sean. ''The Age of Reagan'', p. 199. {{ISBN|978-0-06-074481-6}}</ref> The man behind the crisis was [[Charles Keating]]. He was sentenced for his involvement of the crisis. Some people blame [[Ronald Reagan]] for the crisis because he signed the [[Tax Reform Act of 1986]] which some might think was a direct result of the crisis. ==References== {{reflist}} {{history-stub}} {{DEFAULTSORT:Savings and loan crisis}} [[Category:1986 in the United States]] [[Category:1995 in the United States]] [[Category:20th century in the United States]] [[Category:Presidency of Ronald Reagan]]