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Special Interest Politics and the Crisis of Financial Institutions in the USA

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  • H I MacDonald

    (Graduate Program in Urban and Regional Planning, University of Iowa, Iowa City, IA 52242, USA)

Abstract

The savings and loan bailout bill, the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), marks the beginning of the post-Reagan era of reregulation. The traditional lobbying coalition of the housing and home-finance industries was too divided and defensive to shape the FIRREA legislation effectively. Congress and the Bush Administration were preoccupied with the financial and political crises raised by the collapse of the Federal Savings and Loan Insurance Company, and were unsympathetic to the lobbying efforts of industry. In this anti-special-interest atmosphere, consumer and affordable-housing advocates enjoyed surprising success. But the FIRREA legislation is being modified as it is implemented, and the durability of both populist and regulatory gains must be questioned.

Suggested Citation

  • H I MacDonald, 1992. "Special Interest Politics and the Crisis of Financial Institutions in the USA," Environment and Planning C, , vol. 10(2), pages 123-146, June.
    • Handle: RePEc:sae:envirc:v:10:y:1992:i:2:p:123-146
    DOI: 10.1068/c100123
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    References listed on IDEAS

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    1. Edward W. Hill, 1990. "The S&L Bailout: Some States Gain, Many More Lose," Challenge, Taylor & Francis Journals, vol. 33(3), pages 37-45, May.
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