fdic: Who remembers FSLIC?
- 07/13/08 11:44 PM
Anyone in the real estate business more than 20 years - FiSLIC, as it was known, was the Federal Savings and Loan Insurance Corporation, comparable to FDIC, the Federal Deposit Insurance Corporation. Both were formed in the early 1930s after the stock market crash of the late 1920s. FiSLIC was for Savings & Loans as FDIC is for commercial banks and tried to bail them out when they got into trouble in the late 70s and early 80s for making commercial loans, when their expertise lay in residential. FiSLIC failed and the ResolutionTrustCorporation (RTC) was created to solve the mess. FDIC is … (2 comments)
Anyone in the real estate business more than 20 years - FiSLIC, as it was known, was the Federal Savings and Loan Insurance Corporation, comparable to FDIC, the Federal Deposit Insurance Corporation. Both were formed in the early 1930s after the stock market crash of the late 1920s.
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