Slavings

Savings and loan crisis

The savings and loan crisis of the 1980s and 1990s was the failure of 1,043 out of the 3,234 savings and loan associations (S&Ls) in the United States from 1986 to 1995. An S&L or "thrift" is a financread more...ial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members.read less...

Slavery

Slavery and enslavement are both the state and the condition of being a slave, who is someone forbidden to quit their service for an enslaver, and who is treated by the enslaver as their property. Slaread more...very typically involves the enslaved person being made to perform some form of work while also having their location dictated by the enslaver. Historically, when people were enslaved, it was often because they were indebted, or broke the law, or suffered a military defeat. The duration of their enslavement might be for life, or for a fixed period of time after which their freedom was granted. Individuals, then, usually became slaves involuntarily, due to force or coercion, although there was also voluntary slavery to pay a debt or obtain money for some purpose. In the course of human history, slavery was a typical feature of civilization, and legal in most societies, but it is now outlawed in all countries of the world, except as punishment for crime.read less...

Savings and loan association

A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. The terms "S&L" or "thrift" read more...are mainly used in the United States; similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held, meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20 percent of their lending in commercial loans—their focus on mortgage and consumer loans makes them particularly vulnerable to housing downturns such as the deep one the U.S. experienced in 2007.read less...

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