New Deal Outline - University of Arizona

Prior to the 1930s most mortgage loans had been five-year loans in which the borrower paid interest during the life of the loan. At the end of the loan period the borrower repaid the entire principal or sought to roll the loan over for a new term. ... Alston, Lee J., Wayne Grove and David Wheelock. “Why Do Banks Fail: Evidence from the 1920s ... ................
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