1990
“The scandal was by any measure the worst in U.S. history, a 10-year loss estimated by at $250 billion that of the savings and loan crisis of the 1980s and 1990s. “It is an unfair drain on honest citizens to pay the piper for knaves and fools, and it will hit the young and poor harder.” History often repeats itself in the financial world. A modern version of the same crisis may be recurring with the recent collapse of Silicon Valley Bank and Signature Bank—which caused billions of uninsured deposits to disappear—and now First Republic Bank.
