Reference no: EM133194008 , Length: 8 pages

Financial Crisis Events and Effects on the Banking Industry

For this assignment I would like you to write a minimum 5-full page report (not including the cover and reference pages) discussing four specific major U.S. financial crisis events and the effects these had (and will have) on the banking industry. These events are:
(1) The Great Depression (1929);
(2) Savings and Loan Crisis (1980's);
(3) The Great Recession (2007) and
(4) The COVID-19 Pandemic (2020).

Discuss the reasons, causes and the effect these events had on the banking industry. Note, the discussion is about the banking industry. Yes, you will be discussing consumers and businesses, but that is in regard to the BANKING INDUSTRY!

Your discussion should include topics such as supply and demand for loans, interest rates, laws and regulations, effects on bank activity with the consumer and small and large businesses. I have included one link for each event, however, you are to have a minimum of two outside resources for each event on your reference page. Your conclusion for this paper is your opinion of which event had the greatest impact on the banking industry - and why - with support!

The Great Depression
"As the economic depression deepened in the early 30s banks began to fail at alarming rates. During the 20s, there was an average of 70 banks failing each year nationally. After the crash during the first 10 months of 1930, 744 banks failed - 10 times as many." "Bank failures during the Great Depression were partly driven by fear, as panicked savers began withdrawing cash before expected bank failures. As more cash was taken out, banks had to stop lending and many called in loans. This drove borrowers to deplete their savings, which made the banks' cash crisis worse." New laws for the banking industry were implemented during and after the Great Depression what were those and the effects it had on the banking industry?