Big Fish

Question: After Ed and Norther rob the bank, Ed explains that he explained about how Texas oil money and poor federal regulation result in many savings and loans losing money. From the clothes and hairstyles, it looks like the 70s. Does anyone know what he is referring to?

Phoenix

Chosen answer: Deregulation of the U. S. savings & loan industry in the early 1980's greatly reduced the restrictions on which federally-chartered S&Ls could invest their money. Since the depositors' money was insured by the federal government, the S&Ls had no incentives to minimize risk. This resulted in a major political scandal by the end of the decade, to the tune of hundreds of billions of dollars being lost through questionable investments, with taxpayers picking up the tab. Many of the most egregious violators were based in Sun Belt states, including Texas. The fashions do appear to be a bit out of date, however.

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