Skip to main content

Deregulation and the Great Recession: The 1990s and the 2000s

  • Chapter
  • 253 Accesses

Abstract

The term Clintonomics has often been used to describe the economic policies pursued by the economic team of President Bill Clinton. The Clinton years were some of the best years in the recent economic history of the United States. After the massive financial upheavals of the late eighties and early nineties, the economy settled into a period of steady growth and stable deficits. All the main candidates had campaigned on the platform of bringing down the budget deficit and limiting increases to the national debt to varying degrees, and Clinton delivered. The GDP per capita increased, homeownership rates went up, the unemployment and inflation rates dropped, the national debt diminished, and the country saw a budget surplus for the first time in decades. The president could boast of having created the most jobs under any single administration.

Keywords

  • Interest Rate
  • House Price
  • Federal Reserve
  • Great Recession
  • National Debt

These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

This is a preview of subscription content, access via your institution.

Buying options

Chapter
USD   29.95
Price excludes VAT (USA)
  • DOI: 10.1057/9781137361219_9
  • Chapter length: 36 pages
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
eBook
USD   109.00
Price excludes VAT (USA)
  • ISBN: 978-1-137-36121-9
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Hardcover Book
USD   139.99
Price excludes VAT (USA)

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Notes

  1. Steven Greenhouse, “Clinton’s Economic Plan: Impact on Individuals; Middle Class and Wealthy to Bear Brunt of New Taxes,” The New York Times, February 18, 1993, http://www.nytimes.com/1993/02/18/us/clinton-s-economic-plan-impact-individuals-middle-class-wealthy-bear-brunt-new.html (accessed February 6, 2014).

    Google Scholar 

  2. Kathy Cobb, David S. Dahl, and David Fettig, “Interstate Branch Banking: Opt in or Opt Out?” Fedgaxette, last modified January 1, 1995, http://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=2759 (accessed January 17, 2014).

    Google Scholar 

  3. Mark Jickling, “The Enron Loophole,” Congressional Research Service Report for Congress, last modified July 7, 2008, http://assets.opencrs.com/rpts/RS22912_20080707.pdf (accessed February 2, 2014).

    Google Scholar 

  4. Grace Livingstone, “The Real Hunger Games: How Banks Gamble on Food Prices— and the Poor Lose Out,” The Independent, April 1, 2012, http://www.independent.co.uk/news/world/politics/the-real-hunger-games-how-banks-gamble-on-foodprices-and-the-poor-lose-out-7606263.html (accessed January 19, 2014).

    Google Scholar 

  5. Gail Maniken, “The Economic Effects of 9/11: A Retrospective Assessment,” Congressional Research Service Report for Congress, last modified September 27, 2002, http://www.fas.org/irp/crs/RL31617.pdf (accessed December 10, 2013 ).

    Google Scholar 

  6. R. Glenn Hubbard, Bruce Deal, and Peter Hess, “The Economic Effects of Federal Participation in Terrorism Risk,” Risk Management and Insurance Review 8, no. 2 (2005): 177–209.

    CrossRef  Google Scholar 

  7. Laurence Zuckerman, “A Day of Terror: The Airlines; for the First Time, the Nation’s Entire Airspace Is Shut Down,” The New York Times, September 12, 2001, http://www.nytimes.com/2001/09/12/us/day-terror-airlines-for-first-time-nation-s-entireairspace-shut-down.html (accessed February 9, 2014).

    Google Scholar 

  8. Shan Carter and Amanda Cox, “One 9/11 Tally: $3.3 Trillion,” The New York Times, September 8, 2011, http://www.nytimes.com/interactive/2011/09/08/us/sept11-reckoning/cost-graphic.html?_r=0 (accessed December 14, 2013).

    Google Scholar 

  9. British Broadcasting Corporation, “Q and A: The Enron Case,” BBC News, July 5, 2006, http://news.bbc.co.uk/2/hi/business/3398913.stm (accessed January 8, 2014).

    Google Scholar 

  10. Charles I. Jones, The Global Financial Crisis of 2007–20?? A Supplement to Macroeconomics (New York: W. W. Norton, 2009).

    Google Scholar 

  11. Krishna Guha, “A Global Outlook,” Financial Times, September 17, 2007, http://www.ft.com/intl/cms/s/0/976b7442–6486-11dc-90ea-0000779fd2ac.html#axzz2sC8YQCw7 (accessed February 1, 2014).

    Google Scholar 

  12. Richard Sylla, “An Historical Primer on the Business of Credit Rating,” in Ratings, Rating Agencies and the Global Financial System, Levich, Richard M., Giovanni Majnoni, and Carmen Reinhart, eds. (Springer US, 2002), 19–40.

    CrossRef  Google Scholar 

  13. Warwick J. McKibbin and Andrew Stoeckel, “The Global Financial Crisis: Causes and Consequences,” Asian Economic Papers 9, no. 1 (2010): 54–86.

    CrossRef  Google Scholar 

  14. Andrew R. Sorkin, “JP Morgan Pays $2 a Share for Bear Stearns,” The New York Times, March 17, 2008, http://www.nytimes.com/2008/03/17/business/17bear.html?pagewanted=all (accessed January 2, 2014 ).

    Google Scholar 

  15. Stephen Labaton, “Agency’s’04 Rule Let Banks Pile Up New Debt,” The New York Times, October 2, 2008, http://www.nytimes.com/2008/10/03/business/03sec.html?em=andpagewanted=all (accessed January 5, 2014).

    Google Scholar 

  16. Peter G. Gosselin, “Paulson Will Have No Peer,” Los Angeles Times, September 29, 2008, http://articles.latimes.com/2008/sep/29/business/fi-assess29 (accessed January 1, 2014).

    Google Scholar 

  17. Ryan Tracy and Michael R. Crettenden, “Some Small Banks Still Owe TARP Money,” The Wall Street Journal, September 25, 2013, http://online.wsj.com/news/articles/SB10001424052702303983904579091101339020342 (accessed January 31, 2014).

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Copyright information

© 2014 Ranajoy Ray Chaudhuri

About this chapter

Cite this chapter

Chaudhuri, R.R. (2014). Deregulation and the Great Recession: The 1990s and the 2000s. In: The Changing Face of American Banking. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137361219_9

Download citation