There is a parallel to today because at least one SNL failed in each of the 50 United States. These were smallish banks, not what we now call too big to fail financial institutions. It took until 1990 when President George Bush was able to essentially recapitalize the savings and loans that had failed. And there's a parallel to the current US banking crisis, which is these mature banks weren't subject to same degree of regulation as the big banks.

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