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Banks and Banking blog
Bailouts and moral hazard, from Chrysler in 1979 to Silicon Valley Bank Every bailout teaches lenders that losses will be socialized. From Chrysler to Silicon Valley Bank, the habit grew, and a rule-based way out exists. The 2008 housing crash began with Washington's push for easy mortgages Wall Street bet badly, but federal policy set the table. The CRA, the GSE housing goals, cheap money and the 2008 conservatorship, with every cause weighed. The CFPB Is Funded Without an Annual Vote of Congress, and That Should Worry Us The purse is Congress's strongest check. An agency paid out of the Federal Reserve escapes it. A 7-2 ruling upheld the design, but that does not make it wise. From Savings Banks to Roth Accounts, a Timeline of How Americans Learned to Save Private thrift built American saving, and a few laws let ordinary workers own a nest egg. A dated timeline from the 1816 savings banks to the Roth IRA. The Contract Clause Once Guarded Your Deals Until a Depression Court Bent It For a century the Contract Clause kept states from rewriting private agreements. Then Blaisdell in 1934 let emergency open the door. Here is the history.