Asked by Osano Enoch on Jun 05, 2024
Verified
The major decline in oil prices in early 1980 that resulted in bankruptcy of many banks and saving and loans in the southwest U.S.resulted in a major Midwestern bank taking bankruptcy because of
A) interstate banking.
B) intra bank loans.
C) cost of gasoline declined at the pump.
D) decrease in the values of oil leases in the Midwest.
Oil Leases
Contracts in which the owner of mineral rights grants permission to an individual or company to explore for and produce oil or gas on a specific tract of land for a specified period in exchange for payments or royalties.
Interstate Banking
Banking operations that involve transactions across state lines, allowing banks to operate branches in multiple states.
Oil Prices
The cost per barrel of crude oil, which can fluctuate based on supply and demand factors, geopolitical events, and market speculation.
- Acquire knowledge on the historical framework and progress of banking, as well as its difficulties.
- Assess the elements impacting the savings and loan sector.
Verified Answer
Learning Objectives
- Acquire knowledge on the historical framework and progress of banking, as well as its difficulties.
- Assess the elements impacting the savings and loan sector.
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