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Ch. 22-2 Savings and Loan Scandal

Ch. 22-2 Savings and Loan Scandal. Poor investments by S&L owners Govt. insured savings deposits so they had to help the banks Govt. took over the banks and cost the taxpayers $300 billion. Decline of Communism. 1989- Poland held free elections

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Ch. 22-2 Savings and Loan Scandal

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  1. Ch. 22-2 Savings and Loan Scandal • Poor investments by S&L owners • Govt. insured savings deposits so they had to help the banks • Govt. took over the banks and cost the taxpayers $300 billion

  2. Decline of Communism • 1989- Poland held free elections • Soon most E.European countries held free elections • Gorbachev’s “Glasnost” allowed for this to happen

  3. Fall of the Berlin Wall (1989) • Berlin Wall divided E. & W. Berlin • Symbol of the Cold War • November 1989 people tore down the wall

  4. Fall of the Berlin Wall

  5. End of the Cold War • Fall of the Berlin Wall considered the end of the Cold War • 1990 Germany finally reunited • “Iron Curtain” has now collapsed • 1991- Soviet republics declared their independence • USSR is now dead

  6. Crisis in Bosnia • Yugoslavia- consisted of 6 republics with different ethnic groups • Civil War resulted b/c Serbs didn’t want Yugoslavia to break up • United Nations unsuccessfully tries to stop the ethnic cleansing

  7. Crisis in the Persian Gulf • Aug. 1990- Iraq invaded Kuwait claiming its oil wells • U.S. & U.N. troops moved into Saudi Arabia • January 1991- Air force attacks Iraq

  8. Persian Gulf War

  9. Operation Desert Storm • Feb. 1991- Forces invade and defeat Iraq in 3 days • UN placed sanctions over Iraq • Many criticized Bush for not removing Saddam Hussein from power

  10. Bush v. Clinton (1992) • Bill Clinton (D) called for “time for a change” • 3rd Party- Ross Perot won 19% of the vote • Bush lost b/c of the poor economy

  11. Bill Clinton (D) 1993-2001

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