Savings and loan crisis in the 1980's?

The savings and loan crisis of the 1980s was a significant financial disaster in the United States, marked by the collapse of about one-third of the savings and loan associations (thrifts) due to poor management, risky investments, and fraud. Deregulation in the late 1970s and early 1980s allowed these institutions to engage in high-risk activities, leading to substantial losses. The federal government eventually intervened, resulting in a taxpayer-funded bailout costing approximately $124 billion. This crisis highlighted the need for stricter regulations and oversight in the financial sector.