Question 3 - Which of the following is NOT true of the savings and loan (S&L) cr

Question

Question 3 - Which of the following is NOT true of the savings and loan (S&L) crisis of the 1980s?

The S&Ls took on excessive risk in real estate lending during the boom that occurred in the sector during the 1970s and 1980s. Closure of failed S&Ls cost U.S. taxpayers more than $124 billion. Political interference kept insolvent S&Ls in operation; bank regulators would have shut down banks in comparable situations. The Federal Reserve took over most of the home lending that had formerly been undertaken by the S&Ls.

Explanation / Answer

Ans

D is wrong. Federer reserve was not involved in any such activity Other agencies were created for the purpose

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