From Buildings and Loans to Bail-Outs: A History of the American Savings and Loan Industry, 1831–1995

by David L. Mason

• ISBN13: 9780521827546
• ISBN10: 052182754X
• Format: Hardcover
• Copyright: 2004-07-05
• Publisher: Cambridge University Press

Summary

For most Americans, the savings and loan industry is defined by the fraud, ineptitude, and failures of the 1980s. These events, however, overshadow a long history in which thrifts played a key role in helping thousands of households buy homes. First appearing in the 1830s, savings and loans, then known as building and loans, encouraged their working-class members to adhere to the principles of thrift and mutual cooperation as a way to achieve the 'American Dream' of home ownership. This book traces the development of this industry, from its origins as a movement of loosely affiliated collection of institutions, into a major element of America's financial markets. It also analyses how diverse groups of Americans, including women, ethnic-Americans, and African-Americans, used thrifts to improve their lives and elevate their positions in society. The book ends with an analysis of the efforts to rehabilitate the industry in the 1990s.

Table of Contents

Introduction

1. A movement takes shape, 1831-1899

2. The rise of the league, 1900-1929

3. From state to federal oversight

4. The movement becomes an industry, 1930-1945

5. The glory years, 1946-1955

6. External challenges and internal divisions, 1956-1966

7. Lost opportunities, 1967-1979

8. Deregulation and disaster, 1979-1988

9. Resolving the crisis, restoring the confidence, 1989-1995

10. The American savings and loan industry in perspective

Appendices

Bibliography.