Wall Street

What Was the Savings & Loan Crisis? How Did It Affect Investors?

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The Street

By TheStreet.com Staff What Was the Savings & Loan Crisis?In the 1980s, there was a financial crisis in the United States that stemmed from skyrocketinginflation as well as the rise of high-yield debt instruments, called junk bonds, which resulted in the failure of more than half of the nation’s Savings & Loans institutions (S&Ls). A savings & loan institution, also called a thrift, is a community-based bank. It provides checking and savings accounts as well as loans and mortgages to consumers. The concept of the S&L began in the 1800s. They were formed with the mission to assist the working c…

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