[tiki]

But didn’t the savings and loans get bailed out? Did that prevent a recession? Or was that later, I’m bad with dates.

[Pelham]

“But didn’t the savings and loans get bailed out? Did that prevent a recession? “

S&L depositors were bailed out during GHW Bush’s Presidency, not S&Ls per se. A lot of S&L executives not only weren’t bailed out, many were convicted of fraud. The Resolution Trust Corporation was set up to sell off the assets of insolvent S&Ls.

Paying for the bailout did slow down the economy some. It was the basis of Bill Clinton making the economy the focus of his campaign.