Stamps You Don’t Remember, Part 3

A little less than 30 years ago, the Savings & Loan business was fine.  #1911 was issued in May 0f 1981 to commemorate 150 years of S&Ls.  This stamp isn’t particularly handsome or creative.  It depicts a toy bank in the shape of a bank building.  Of course, a lot of what we think about S&Ls has changed since then.

S&Ls had done big business since the end of World War II.  The industry was so strong that interest rate wars erupted between S&L’s causing Congress to enact limits on savings rates in 1966 which ultimately contributed to the S&L crisis of the late 1980s. The resulting bailout was around $87 billion, just barely exceeding what the US Government paid for just AIG in 2008.

 

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1 Comment

Filed under Stamps

One response to “Stamps You Don’t Remember, Part 3

  1. Hello! I would like to send you a thank you for putting the L&J badge on your site. Can you email me your mailing address? Thanks very much!

    Jackie (at) lettersandjournals (dot) com

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