Canopy en Arenal Montaña De Fuego - La Fortuna - Costa Rica Enero 2018
Mi viaje a Costa Rica, Montaña De Fuego
Arenal Mundo Aventura Canopy Tour, Athica Canopy Tour, Canopy Vista Arenal, Canopy Los Cañones, Arenal Ecoglide Canopy Tour, Sky Tram and Sky Trek and Cr Arenal Canopy tour.
Arenal Volcano Tour with Horses, Montaña de Fuego Hotel.
Montaña de Fuego Hotel, Luxury Resort.
Hotel in the Arenal volvano voted as best view
In La Fortuna de San Carlos, Costa Rica. Enjoy a 3hr tour to the infamous Arenal Volcano to have the opportunity to ride horses and a short hike to the lava rocks! Montana Tours ensures you have a great experience with our bilingual guides and tame Quarter Back Horses, this is an experience not to miss! For more info visit: or email info@montanatourscr.com, call us on +506 2479-1220
Volcan Arenal
Pretty good video taken of Volcan Arenal in El Castillo, Costa Rica
Escalando VOLCAN ARENAL COSTA RICA CA POR LAS COLADADAS
Costa Rica Trip 2007:Arenal Volcano
Costa Rica Trip 2007
Safari Kayak Tour in Nosara CR
Hal and Javier penetrate the canopy over the Nosara River and continue on the to river mouth. See more at FishingNosara.com
Tours and activities near tabacon Resort Arenal Volcano
Overview, En Gadi-Spa near arenal volcano, hotels near arenal volcano, hotels near tabacon. Tours near tabacon. Tours near arenal volcano.
In the Park you will enjoy a variety of interesting and exciting activities. Horseback riding tours, Canopy, Toubing, trails, paths, Helicopters to explore Arenal Volcano from the sky. These excellent activities, bred on our property, are sure to make this trip a unique experience. In a wonderful walk to the Arenal Volcano, you can experience the excitement of walking on the lava paths, while observing the wide variety of fauna of this area. Discover the natural beauty of the landscape, where
you will know the heart of the Arenal National Park.
You can also live one of the most exhilarating adventures: the rappel. Descending by the cliff of the Arenal Canyon, and surrounded by the wild beauty of the place, you will arrive at the paradise next to the warm water of the Arenal River, to enjoy its natural hot springs.
Additionally, Go Adventure park offers you an excellent setting for the visitors who love bird watching. We have about 30 hectares (75 acres) of primary and secondary forest, with many paths and trails that will bring you to a myriad of the most amazing and colorful bird species of Costa Rica. You will enjoy a majestic 3-hour journey.
You will also delight yourself in the natural tropical gardens that encompass the Park.
montanatourscr.com mail: info@montanatourscr.com
2
Go Adventure Park has been designed for adventure and nature lovers. Enjoy a full day in our park, you can manage your own schedule and choose your preferred activities.
Go Adventure Park is immersed in 45 hectares of primary and secondary forest , at the foot of the majestic Arenal Volcano , which makes it a true oasis of peace, enriched by an exuberant vegetation and diverse fauna. By far the best place to enjoy nature and feel adrenaline.
Just sign up in our desk and reserve in advance which activity to do during the day. Can
choose between depends on the package (Canopy-Helicopter-horses-toubing-hiking). Full
combo of the best selected tours, to feel adrenaline and wildness.
Go Adventure park offers:
Economic pass: Present your voucher and arrange 3 activities per day( Canopy-
Horses-Toubing-Hiking) Lunch is not included but for just $10 extra per person you will
get the best tasting of Costa Rica. Price: $70 per person
Day pass: Present your voucher and arrange 4 activities per day( Canopy-Horses-
Toubing-Hiking) Lunch is included in our Acuarelas Restaurant you will get the best
tasting of Costa Rica. Price: $95 per person.
Premiere pass: Present your voucher and you can arrange till 5 activities per
day( Canopy-Horses-Toubing-Hiking-helicopter 10 minutes flying tour) Lunch is
included in our Acuarelas Restaurant you will get the best tasting of Costa Rica.
Price: 1 pax-$340 per person/ 2 pax $280 per person/ 3- pax $180 per person
10 Best And Most Beautiful Hotels In The World
1. Singita Grumeti Reserves Tanzania – Africa
2. Triple Creek Ranch, Darby – MT
3. Southern Ocean Lodge, Kangaroo Island – Australia
4. Oberoi Udaivilas, Udaipur – India
5. Discovery Shores, Boracay – Philippines
6. Nayara Hotel, La Fortuna de San Carlos – Costa Rica
7. Palacio Duhau, Park Hyatt – Buenos Aires
8. Ngorongoro Sopa Lodge, Arusha – Tanzania
9. Blow Up Hall 5050 – Poland
10. Hotel Silken Puerta America Madrid – Spain
Top 10 Most Beautiful Hotels Around The World
Title : Top 10 Most Beautiful Hotels Around The World.
1. Singita Grumeti Reserves (Tanzania, Africa) : For the second year in a row, Travel + Leisure has named Singita Grumeti Reserves in Tanzania's Serengeti National Park as the best hotel in the world. The hotel, which is made up of two lodges and a tent camp, offers unparalleled luxury in the thick of the wild. It is located on the migratory route traversed annually by more than a million wildebeest, providing guests with incredible photo opportunities from their bedroom windows.
For more Information Click at Source Link below :
Source :
2. Triple Creek Ranch (Darby, USA) : Triple Creek Ranch resort is situated in the Bitterroot Mountain Range of the Montana Rockies. A member of the prestigious Relais & Châteaux, Triple Creek Ranch offers rustic elegance in a mountain retreat featuring private log cabins and a comfortable lodge. Adress: 5551 W Fork Rd, Darby, Mt 59829, United States. Phone:+1 406-821-4600.
For more Information Click at Source Link below :
Source :
3. Southern Ocean Lodge (Kangaroo Island, Australia) : Southern Ocean Lodge is Australia's first true luxury lodge, offering a unique and exclusive travel experience on Kangaroo Island in South Australia. Address : Hanson Bay Road, Kingscote SA 5223, Australia. Phone :+ 61 2 9918 4355.
For more Information Click at Source Link below :
Source :
4. Oberoi Udaivilas (Udaipur, Rajasthan, India) : The Oberoi Group is a hotel company with its head office in Delhi. Oberoi, founded in 1934, owns and/or operates 30 hotels and three cruisers in five countries. It remains one of the most decorated hotel chains in the world with many of its group hotels bagging various awards and accolades from Travel+Leisure, Condé Nast Traveler, Forbes and Galileo.
For more Information Click at Source Link below :
Source :
5. Discovery Shores (Boracay, Philippines) : The Discovery Leisure Company Inc. has a distinguished portfolio that includes Discovery Suites in Ortigas, Discovery Country Suites Tagaytay, Discovery Shores Boracay, Club Paradise in Coron, Palawan, and Discovery Primea in Makati. Address: Boracay Highway Central, Banwa it Malay, Philippines. Phone:+63 36 288 4500.
For more Information Click at Source Link below :
Source :
6. Arenal Nayara Hotel (La Fortuna de San Carlos, Costa Rica) : Nayara is Arenal's jewel. A place of nature where romance emanates and life moves at a slower pace to allow time to rekindle old relationships and to start new ones in an enchanting way. Nayara is an authentic Costa Rican journey, a property that reflects its location and respects the ecological balance.
Address: 9 KM Oeste de La Fortuna de San Carlos, 21007, Costa Rica. Phone:+506 2479 1600.
For more Information Click at Source Link below :
Source :
7. Palacio Duhau (Park Hyatt Buenos Aires, Argentina) : The Palacio Duhau - Park Hyatt Buenos Aires is a five star establishment located in the city's Recoleta section.
Address: Av Alvear 1661, C1014AAD Buenos Aires, Argentina.
Phone : + 54 11 5171-1234.
For more Information Click at Source Link below :
Source :
8. Ngorongoro Sopa Lodge (Arusha, Tanzania, Africa) : Facing the always magnificent sunsets to the west, and located at the highest point on Ngorongoro crater's entire rim, Ngorongoro Sopa Lodge stands well over half a kilometre above the crater floor and offers unparalleled views across this enormous caldera.
Address: Bariadi, Tanzania. Phone:+255 27 250 0630.
For more Information Click at Source Link below :
Source :
9. Blow Up Hall 50 50 (Poland) : The Blow Up Hall 50 50 is an avant-garde five-star hotel in the Polish city of Poznan . In the hotel, which resembles a museum, is through to see an exhibition of contemporary art. Address: Ul. Kościuszki 42, 61-891 Poznań, Poland. Phone:+48 500 161 671.
For more Information Click at Source Link below :
Source :
10. Hotel Silken Puerta América (Madrid, Spain) : The Silken Puerta América is an idea of freedom come true, a meeting space that brings together different cultures and ways of understanding architecture and design. A work of architecture that breaks with the norm by using different colours, materials and shapes. Address: Av de América, 41, 28028 Madrid, Spain. Phone:+34 917 44 54 00.
For more Information Click at Source Link below :
Source :
Ola tras Ola (Wave After Wave) - Film Teaser 1 -2017
Sobre el largometraje. (English translation below)
Mi padre, Ariel González (1945, Uruguay), descubrió el surfing a través de una revista Surfer de 1963. Alucinado por sus contenidos, se embarcó en una aventura, arrastrando consigo a familia y amigos, para intentar emular las imágenes que veía en la revista. Pero poco sabía entonces que aquel juego en las olas se iba a convertir en su obsesión y que iba a crear un lazo profundo y transformador con el océano.
A lo largo del año 2016 tuve la fortuna de viajar con él por Brasil, Perú y Hawaii, recorriendo las olas y conociendo a los personajes que dejaron mella en su surf safari del año 70'.
Hoy, a los setenta y dos años, veo a mi padre bajar todos los días a la playa a escuchar el rumor del mar, correr por la costa y nadar sus profundidades. Es un surfista, profesor, investigador y un defensor de una vida inclinada a la Naturaleza.
About the film.
My father, Ariel Gonzalez (1945, Uruguay), discovered surfing through a Surfer magazine in 1963. Mesmerized by the contents of the magazine, he embarked on a journey, accompanied by family and friends, to imitate the images he saw in the magazine. Little did he know at that time that the sport would become an obsession and that it was the beginning of a lifelong relationship with the ocean.
During 2016, I was lucky enough to travel with him through Brasil, Perú and Hawaii, visiting waves and old friends that marked his 70's surf safari.
Today, at seventy two, I see my father visit the coast every day to hear the crashing of the waves, run along the shoreline and to swim its depths. He is a surfer, a teacher, an investigator and an advocate for a natural way of life.
EL DIEZMO Y SU GRAN NEGOCIO DEL PADRE LUIS TORO EN VIVO DESDE BELICE
Google plus: Pbro. LUIS TORO
Twitter: @PadreLuisToro
Facebook: @Padre Luis Toro
Tumblr: Padre Luis Toro
Pagina Web: Escuela de Biblia
Canal de Youtube: Padre Luis Toro
Instagram : @Pbro.luistoro
Copyright © Padre Luis Toro
JFK Assassination Conspiracy Theories: John F. Kennedy Facts, Photos, Timeline, Books, Articles
There has long been suspicion of a government cover-up of information about the assassination of John F. Kennedy on November 22, 1963. About the book:
Numerous conspiracy theories regarding the assassination arose soon after Kennedy's death and continue to this day. Most put forth a criminal conspiracy involving parties as varied as the CIA, the KGB, the American Mafia, the Israeli government, FBI director J. Edgar Hoover, sitting Vice President Lyndon Johnson, Cuban president Fidel Castro, anti-Castro Cuban exile groups, the Federal Reserve, or some combination of those entities. In 1979, the United States House Select Committee on Assassinations concluded that Kennedy's assassination was likely the result of a conspiracy.
President John F. Kennedy was assassinated as he traveled in an open-top car in a motorcade in Dallas, Texas at 12:30 PM,CST (1:30 PM EST) November 22, 1963; Texas Governor John Connally was also injured. Within two hours, Lee Harvey Oswald was arrested for the murder of Dallas policeman J.D. Tippit and arraigned that evening. At 1:35 AM Saturday, Oswald was arraigned for murdering the President. At 11:21 AM, Sunday, November 24, 1963, nightclub owner Jack Ruby shot and killed Oswald as he was being transferred to the county jail.
Immediately after the shooting, little information was available and many people suspected that the assassination was part of a larger plot. Ruby's shooting of Oswald compounded initial suspicions. Mark Lane has been described as writing the first literary shot among conspiracy theorists with his article in the December 19, 1963 edition of the National Guardian, Defense Brief for Oswald. Published in May 1964, Thomas Buchanan's Who Killed Kennedy? has been credited as the first book alleging a conspiracy.
In 1964, the Warren Commission concluded that Oswald acted alone and that no credible evidence supported the contention that he was involved in a conspiracy to assassinate the president. The Commission also indicated that Dean Rusk, the Secretary of State; Robert S. McNamara, the Secretary of Defense; C. Douglas Dillon, the Secretary of the Treasury; Robert F. Kennedy, the Attorney General; J. Edgar Hoover, the Director of the FBI; John A. McCone, the Director of the CIA; and James J. Rowley, the Chief of the Secret Service, each independently reached the same conclusion on the basis of information available to them.
In 1979, the House Select Committee on Assassinations (HSCA) agreed with the Warren Commission that Oswald assassinated Kennedy, but concluded that the Commission's report and the original FBI investigation were both seriously flawed. The HSCA also concluded that at least four shots were fired with a high probability that two gunmen fired at the President, and that a conspiracy was probable. The HSCA also stated that the Warren Commission failed to investigate adequately the possibility of a conspiracy to assassinate the president.
The Ramsey Clark Panel and the Rockefeller Commission both supported the Warren Commission's conclusions, while New Orleans District Attorney Jim Garrison unsuccessfully prosecuted Clay Shaw for conspiring to assassinate Kennedy.
According to John McAdams: The greatest and grandest of all conspiracy theories is the Kennedy assassination conspiracy theory. Others have frequently referred to it as the mother of all conspiracies. The number of books written about the assassination of Kennedy has been estimated to be in the range of one thousand to two thousand. According to Vincent Bugliosi, 95% of those books are pro-conspiracy and anti-Warren Commission.
Kennedy assassination enthusiasts have been described as belonging to conspiracy theorists on one side and debunkers on the other. The great amount of controversy surrounding the event has led to bitter disputes between those who support the conclusion of the Warren Commission and those who reject it or are critical of the official explanation, with each side leveling accusations of naivete, cynicism, and selective interpretation of the evidence toward the other.
Public opinion polls taken after the assassination have indicated that a large number of Americans believe there was a conspiracy to kill President Kennedy. These same polls also show that there is no agreement on who else may have been involved. A 2003 Gallup poll reported that 75% of Americans do not believe that Lee Harvey Oswald acted alone. That same year an ABC News poll found that 70% of respondents suspected that the assassination involved more than one person. A 2004 Fox News poll found that 66% of Americans thought there had been a conspiracy while 74% thought there had been a cover-up.
Suspense: Mortmain / Quiet Desperation / Smiley
The program's heyday was in the early 1950s, when radio actor, producer and director Elliott Lewis took over (still during the Wilcox/Autolite run). Here the material reached new levels of sophistication. The writing was taut, and the casting, which had always been a strong point of the series (featuring such film stars as Orson Welles, Joseph Cotten, Henry Fonda, Humphrey Bogart, Judy Garland, Ronald Colman, Marlene Dietrich, Eve McVeagh, Lena Horne, and Cary Grant), took an unexpected turn when Lewis expanded the repertory to include many of radio's famous drama and comedy stars — often playing against type — such as Jack Benny. Jim and Marian Jordan of Fibber McGee and Molly were heard in the episode, Backseat Driver, which originally aired February 3, 1949.
The highest production values enhanced Suspense, and many of the shows retain their power to grip and entertain. At the time he took over Suspense, Lewis was familiar to radio fans for playing Frankie Remley, the wastrel guitar-playing sidekick to Phil Harris in The Phil Harris-Alice Faye Show. On the May 10, 1951 Suspense, Lewis reversed the roles with Death on My Hands: A bandleader (Harris) is horrified when an autograph-seeking fan accidentally shoots herself and dies in his hotel room, and a vocalist (Faye) tries to help him as the townfolk call for vigilante justice against him.
With the rise of television and the departures of Lewis and Autolite, subsequent producers (Antony Ellis, William N. Robson and others) struggled to maintain the series despite shrinking budgets, the availability of fewer name actors, and listenership decline. To save money, the program frequently used scripts first broadcast by another noteworthy CBS anthology, Escape. In addition to these tales of exotic adventure, Suspense expanded its repertoire to include more science fiction and supernatural content. By the end of its run, the series was remaking scripts from the long-canceled program The Mysterious Traveler. A time travel tale like Robert Arthur's The Man Who Went Back to Save Lincoln or a thriller about a death ray-wielding mad scientist would alternate with more run-of-the-mill crime dramas.
A Pride of Carrots - Venus Well-Served / The Oedipus Story / Roughing It
Oedipus (US pron.: /ˈɛdɨpəs/ or UK /ˈiːdɨpəs/; Ancient Greek: Οἰδίπους Oidípous meaning swollen foot) was a mythical Greek king of Thebes. A tragic hero in Greek mythology, Oedipus fulfilled a prophecy that said he would kill his father and marry his mother, and thereby brought disaster on his city and family. The story of Oedipus is the subject of Sophocles's tragedy Oedipus the King, which was followed by Oedipus at Colonus and then Antigone. Together, these plays make up Sophocles's three Theban plays. Oedipus represents two enduring themes of Greek myth and drama: the flawed nature of humanity and an individual's powerlessness against the course of destiny in a harsh universe.
Oedipus was born to King Laius and Queen Jocasta. In the most well-known version of the myth, Laius wished to thwart a prophecy saying that his child would grow up to murder his father and marry his mother. Thus, he fastened the infant's feet together with a large pin and left him to die on a mountainside. The baby was found on Kithairon by shepherds and raised by King Polybus and Queen Merope in the city of Corinth. Oedipus learned from the oracle at Delphi of the prophecy, but believing he was fated to murder Polybus and marry Merope he left Corinth. Heading to Thebes, Oedipus met an older man in a chariot coming the other way on a narrow road. The two quarreled over who should give way, which resulted in Oedipus killing the stranger and continuing on to Thebes. He found that the king of the city (Laius) had been recently killed and that the city was at the mercy of the Sphinx. Oedipus answered the monster's riddle correctly, defeating it and winning the throne of the dead king and the hand in marriage of the king's widow, Jocasta.
Oedipus and Jocasta had two sons (Eteocles and Polynices) and two daughters (Antigone and Ismene). In his search to figure out who killed Laius (and thus end a plague on Thebes), Oedipus discovered it was he who had killed the late king - his father. Jocasta also soon realized that she had married her own son and Laius's murderer, and she hanged herself. Oedipus seized a pin from her dress and blinded himself with it. Oedipus was driven into exile, accompanied by Antigone and Ismene. After years of wandering, he arrived in Athens, where he found refuge in a grove of trees called Colonus. By this time, warring factions in Thebes wished him to return to that city, believing that his body would bring it luck. However, Oedipus died at Colonus, and the presence of his grave there was said to bring good fortune to Athens.
The legend of Oedipus has been retold in many versions, and was used by Sigmund Freud as the namesake of the Oedipus complex.
Savings and Loan Scandal: Taxpayer Bailout
The thrift industry has its origins in the British building society movement that emerged in the late 18th century. American thrifts (known then as building and loans or B&Ls) shared many of the same basic goals: to help working-class men and women save for the future and purchase homes. Thrifts were not-for-profit cooperative organizations that were typically managed by the membership and local institutions that served well-defined groups of aspiring homeowners. While banks offered a wide array of products to individuals and businesses, thrifts often made only home mortgages primarily to working-class men and women. Thrift leaders believed they were part of a broader social reform effort and not a financial industry. According to thrift leaders, B&Ls not only helped people become better citizens by making it easier to buy a home, they also taught the habits of systematic savings and mutual cooperation which strengthened personal morals.
The first thrift was formed in 1831, and for 40 years there were few B&Ls, found in only a handful of Midwestern and Eastern states. This situation changed in the late 19th century as urban growth and the demand for housing related to the Second Industrial Revolution caused the number of thrifts to explode. The popularity of B&Ls led to the creation of a new type of thrift in the 1880s called the national B&L. The nationals were often for-profit businesses formed by bankers or industrialists that employed promoters to form local branches to sell shares to prospective members. The nationals promised to pay savings rates up to four times greater than any other financial institution.
The Depression of 1893 (the Panic of 1893) caused a decline in members, and so nationals experienced a sudden reversal of fortunes. Because a steady stream of new members was critical for a national to pay both the interest on savings and the hefty salaries for the organizers, the falloff in payments caused dozens of nationals to fail. By the end of the 19th century, nearly all the nationals were out of business (National Building and Loans Crisis). This led to the creation of the first state regulations governing B&Ls, to make thrift operations more uniform, and the formation of a national trade association to not only protect B&L interests, but also promote business growth. The trade association led efforts to create more uniform accounting, appraisal, and lending procedures. It also spearheaded the drive to have all thrifts refer to themselves as savings and loans not B&Ls, and to convince managers of the need to assume more professional roles as financiers.
In the 20th century, the two decades that followed the end of World War II were the most successful period in the history of the thrift industry. The return of millions of servicemen eager to take up their prewar lives led to a dramatic increase in new families, and this baby boom caused a surge in new mostly suburban home construction. By the 1940s S&Ls (the name change occurred in the late 1930s) provided most of the financing for this expansion. The result was strong industry expansion that lasted through the early 1960s.
An important trend involved raising rates paid on savings to lure deposits, a practice that resulted in periodic rate wars between thrifts and even commercial banks. These wars became so severe that in 1966 the United States Congress took the highly unusual move of setting limits on savings rates for both commercial banks and S&Ls. From 1966 to 1979, the enactment of rate controls presented thrifts with a number of unprecedented challenges, chief of which was finding ways to continue to expand in an economy characterized by slow growth, high interest rates and inflation. These conditions, which came to be known as stagflation, wreaked havoc with thrift finances for a variety of reasons. Because regulators controlled the rates thrifts could pay on savings, when interest rates rose depositors often withdrew their funds and placed them in accounts that earned market rates, a process known as disintermediation. At the same time, rising rates and a slow growth economy made it harder for people to qualify for mortgages that in turn limited the ability to generate income.
The Savings and Loan Banking Crisis: George Bush, the CIA, and Organized Crime
The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of about 747 out of the 3,234 savings and loan associations in the United States. About the book:
A savings and loan or thrift is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members—a cooperative venture known in the United Kingdom as a Building Society. As of December 31, 1995, RTC estimated that the total cost for resolving the 747 failed institutions was $87.9 billion. The remainder of the bailout was paid for by charges on savings and loan accounts — which contributed to the large budget deficits of the early 1990s.
The concomitant slowdown in the finance industry and the real estate market may have been a contributing cause of the 1990--91 economic recession. Between 1986 and 1991, the number of new homes constructed per year dropped from 1.8 million to 1 million, which was at the time the lowest rate since World War II.
The United States Congress granted all thrifts in 1980, including savings and loan associations, the power to make consumer and commercial loans and to issue transaction accounts. Designed to help the thrift industry retain its deposit base and to improve its profitability, the Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980 allowed thrifts to make consumer loans up to 20 percent of their assets, issue credit cards, accept negotiable order of withdrawal (NOW) accounts from individuals and nonprofit organizations, and invest up to 20 percent of their assets in commercial real estate loans.
The damage to S&L operations led Congress to act, passing the Economic Recovery Tax Act of 1981 (ERTA) in August 1981 and initiating the regulatory changes by the Federal Home Loan Bank Board allowing S&Ls to sell their mortgage loans and use the cash generated to seek better returns soon after enactment; the losses created by the sales were to be amortized over the life of the loan, and any losses could also be offset against taxes paid over the preceding 10 years. This all made S&Ls eager to sell their loans. The buyers—major Wall Street firms—were quick to take advantage of the S&Ls' lack of expertise, buying at 60%-90% of value and then transforming the loans by bundling them as, effectively, government-backed bonds (by virtue of Ginnie Mae, Freddie Mac, or Fannie Mae guarantees). S&Ls were one group buying these bonds, holding $150 billion by 1986, and being charged substantial fees for the transactions.
In 1982, the Garn-St Germain Depository Institutions Act was passed and increased the proportion of assets that thrifts could hold in consumer and commercial real estate loans and allowed thrifts to invest 5 percent of their assets in commercial loans until January 1, 1984, when this percentage increased to 10 percent.
A large number of S&L customers' defaults and bankruptcies ensued, and the S&Ls that had overextended themselves were forced into insolvency proceedings themselves.
The Federal Savings and Loan Insurance Corporation (FSLIC), a federal government agency that insured S&L accounts in the same way the Federal Deposit Insurance Corporation insures commercial bank accounts, then had to repay all the depositors whose money was lost. From 1986 to 1989, FSLIC closed or otherwise resolved 296 institutions with total assets of $125 billion. An even more traumatic period followed, with the creation of the Resolution Trust Corporation in 1989 and that agency's resolution by mid-1995 of an additional 747 thrifts.
A Federal Reserve Bank panel stated the resulting taxpayer bailout ended up being even larger than it would have been because moral hazard and adverse selection incentives that compounded the system's losses.
There also were state-chartered S&Ls that failed. Some state insurance funds failed, requiring state taxpayer bailouts.