The Great Texas Banking Crash

The Great Texas Banking Crash

4.11 - 1251 ratings - Source

During the decades from 1982 to 1992, Texas banks failed at a rate unprecedented in United States history, even including the Great Depression of the 1930s. In all, 506 Texas commercial banks failed (accounting for 36% of all failures nationally), including seven of the ten largest banks in Texas. In this fascinating insider's account, Joseph M. qJodyq Grant, former chairman and chief executive officer of Texas American Bancshares, Inc. of Fort Worth (the seventh largest), tells the story of the collapse of Texas' major banks. He vividly re-creates the three-year struggle to save his own organization, Texas American Bancshares. This sobering account makes a compelling case against the FDIC's handling of Texas' financial crisis. In Grant's view, the bank failures have deprived Texas of the engine of capital that spawned the nation's third largest industrial economy, built Texas' major cities, bankrolled its entrepreneurs, and provided a pool of talented business and civic leaders. Grant's book will be thought-provoking reading for everyone in the financial community, as well as for students of Texas history and of business and government relations.and junk bonds; placed the regulatory division of the Federal Home Loan Bank Board under the Office of Thrift Supervision; and moved the ... USAA has no branches and makes no commercial loans; it issues credit cards, primarily to individuals in the U.S. armed forces ... Eighty-eight of the ninety-one failures in 1988 were consolidated into seventeen groups under the Southwest Plan.25 The Southwestanbsp;...

Title:The Great Texas Banking Crash
Author:Joseph M. Grant
Publisher:University of Texas Press - 1996-01-01


You Must CONTINUE and create a free account to access unlimited downloads & streaming