The causes of this debacle and the events surrounding its resolution have been docu- mented and analyzed in great detail by academics, governmental bodies, former bank and thrift regulators, and journalists. Although the FDIC had a role in monitoring events as they unfolded and, indeed, played an important part in the eventual cleanup, until 1989 S&Ls were regulated by the Federal Home Loan Bank Board (FHLBB, or Bank Board) and in- sured by the Federal Savings and Loan Insurance Corporation (FSLIC) within a legislative and historical framework separate from the one that surrounded commercial banks. This chapter provides only an overview of the savings and loan crisis.
