In “Banking Crisis Dwarfs Depression”, John Lounsbury suggests: “The S&L crisis was about five times bigger than the banking crisis of the Great Depression. The current crisis is about 25 times larger than the Great Depression. Both are per capita, adjusted for inflation.” The chart he created says it all.
And the banking crisis is not yet over. As Lounsbury notes, in both the S & L Crisis of the 1980s and the Depression of the 1930’s it took ten years to unwind the banking mess. Unfortunately we have only begun this time around.