Quotes About Thrifts

This completed the curious reversal in roles that occurred in the early 1980s, when thrifts became traders and traders thrifts.

The Gam-St. Germain Act allowed the thrifts to lend an amount of money equal to the appraised value of real estate rather than the market value. It wasn't long before appraisers were receiving handsome fees for appraisals that were, to say the least, unrealistic.