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by Anonymous on February 17th, 2007

Anonymous

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Help answer this question below.

In 1981 the combined net worth of the entire savings-and-loan industry in the U.S. was estimated by economists to be?
a. -$150 billion
b. close to zero
c. $150 billion
d. -$20 billion

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Answers. 1 helpful answer below.

  • by canadianhelper on February 17th, 2007

    canadianhelper

    -150 billion.

    Read this PDF:

    http://www.ssc.wisc.edu/econ/archive/wp2002-19.pdf

    Quote:

    Finally,
    depository institutions anywhere in the United States could offer NOW accounts after January 1,
    1981. These and other changes were intended to put all depository institutions on a level playing
    field.
    As the legislation came into force, the Fed again began to force nominal and real interest
    rates to new 20th Century highs. Assets of MMMFs continued to grow, because deposit interest rate
    ceilings were not being removed quickly. Thrift institutions were sustaining large operating losses;
    estimates of the market value of their mortgage portfolios suggested that the industry had a net
    worth of negative $100 to $150 billion instead of the plus $30 billion shown on its books.

    Refer to White, Lawrence J., [1991], The S & L Debacle: Public Policy Lessons for Bank and Thrift
    Regulation, New York: Oxford University Press. Page 76 as well.

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In 1981 the combined net worth of the entire savings and loan industry in the united states was estimated by economists to be
In 1981 the combined net worth of the entire savings and loan industry in the united states was estimated by economists to be a close to zero
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