Why 3 US banks collapsed in 1 week: Economist Michael Hudson explains
Geopolitical Economy Report
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Savings and Loans and Savings Banks
The savings and loan crisis was somewhat different. It is worth mentioning because much of it was the result of fraud. The SNLs were in the same situation that bank depositors were in the last few years. You could get a very low rate of interest from the banks or a high rate of interest by putting your money into higher-yielding financial securities. When interest rates went up to 6%, 7% for mortgages, banks couldn't simply charge their mortgage customers more Because the mortgage customer had a 30 year loan at a fixed rate of interest. And as a result they were pushed under and the commercial banks had a field day. So there are I think no more savings banks, hardly
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