george h.w. bush savings and loans failures: – deregulation of banks often led to illegal and...
TRANSCRIPT
George H.W. Bush
• Savings and Loans Failures:– deregulation of banks often led to illegal and
unsound banking practices {Reagan}:• hundreds of savings and loans associations therefore
went bankrupt
– FDIC paid $500 billion to insured depositors
Desert Storm• Persian Gulf War:– 1990- Iraq invades and annexes oil rich nation of
Kuwait– Saddam Hussein leader of Iraq
• Operation Desert Shield {1990}:– Bush sends 500,000 U.S. troops to halt further Iraqi
aggression into other countries {especially Saudi Arabia}
– international alliance joins the U.S. {collective security}
– United Nations establishes economic blockade of Iraq
Desert Storm
• Operation Desert Storm {1991}:– alliance begins five weeks of bombing to weaken
Iraqi military– ground force then take four days to remove Iraqi
troops from Kuwait
Iron Curtain Falls
• Iron Curtain Falls:– Soviet satellites in Eastern Europe break away
from Soviet control:• replace communist dictatorship with democratic
governments• Berlin Wall collapses• East and West Germany reunited
• Soviet Union collapses
NAFTA
• NAFTA {1994}:– North American Free Trade Agreement:– economic alliance between U.S., Canada, Mexico– removed tariffs between the member nations
Impeachment
• Impeachment:– Clinton second President to be impeached by
House of Representatives– acquitted by Senate– checks and balances
Clinton-LewinskyScandal
“I did not have sexual relations with that woman, Miss Lewinsky…” President Bill Clinton