The financial savings and mortgage disaster had loads to do with the very dangerous determination by Congress to calm down rules on these associations, which had been in monetary bother because of excessive rates of interest. There are apparent parallels to the disaster at Silicon Valley Financial institution, which additionally hit a wall due to rising rates of interest and was capable of take such massive dangers partially as a result of the Trump administration and Congress had relaxed rules on midsize banks.
However right here’s the factor: The huge bulk of deposits…
