When Congress and U.S. presidents altered the __________ that precipitated the S&L crisis and the subprime loan scandal, it was a prime example of how flexible __________ is for those who hold the power.

Question

Quizplus · Accepted Answer

The S&L crisis (in the 1980s) and the subprime loan scandal (in the 2000s) were both caused by alterations in banking laws that allowed for risky lending practices. This shows how those in power (Congress and U.S. presidents) were able to change the rules to benefit themselves and those they represented. The concept of deviancy refers to behavior that deviates from societal norms or legal boundaries, which is relevant here as the altered banking laws allowed for deviant lending practices.