Now That's What I Call a Correction

Bar graph on housing and commercial property values, from 2000 to 2009 from this essay. HT Back in the early 1990s there was another banking crisis, which they called BCCI (or something similar), which came hard on the heels of the savings & loan debacle in the late 1980s. (So many crises and so little time.) And whatchaknow, the DemoRATS tried to pin it on Republicans...until that didn't work, though I remember on the NewsHour Sen. John Kerry, taking time from out his many mansions and his hobby of windsurfing, called it the worst banking crisis in the history of mankind. This was the fall of 1990. Look at the graph at thus PDF on the first page here, on the number of bank failures. Now that's what I call a spike.

Here's a decent backgrounder on the largely forgotten banking troubles and scandals.