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The two agencies closed 1,043 banks that held $519 billion in assets. The total cost of taxpayers by the end of 1999 was $123.8 billion with an additional $29.1 billion of losses imposed onto the thrift industry. [2] Starting in 1979 and through the early 1980s, the Federal Reserve sharply increased interest rates in an effort to reduce ...
In the 1980s and '90s, a push to lower the legal blood alcohol content (BAC) limit for getting behind the wheel took the country by storm. Mothers Against Drunk Driving (MADD) was formed in 1980 ...
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...
Drunk driving is the act of operating a motor vehicle with the operator's ability to do so impaired as a result of alcohol consumption, or with a blood alcohol level in excess of the legal limit. [1] For drivers 21 years or older, driving with a blood alcohol concentration (BAC) of 0.08% or higher is illegal.
When the 1990 oil price shock hit in mid-1990, consumer spending contracted and the economy entered recession. Unlike the early 1980s recession , the recession beginning in 1990 was relatively mild. Some of the hardest hit cities were in California and the Northeast, while much of the South was less affected.
On the same day Iran releases hostages, marking the end of the Iran hostage crisis. March 30, 1981 – Attempted assassination of President Reagan by John Hinckley Jr. 1981 – 1982 United States is part of the global recession, with national unemployment as high as 9%, with some areas much higher, and inflation as high as 13.5%. Early 1980s ...
The history of the United States debt ceiling deals with movements in the United States debt ceiling since it was created in 1917. Management of the United States public debt is an important part of the macroeconomics of the United States economy and finance system, and the debt ceiling is a limitation on the federal government's ability to manage the economy and finance system.
The Washington Consensus is a set of ten economic policy prescriptions considered in the 1980s and 1990s to constitute the "standard" reform package promoted for crisis-wracked developing countries by the Washington, D.C.-based institutions the International Monetary Fund (IMF), World Bank and United States Department of the Treasury. [1]