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Lamar Savings

Politicos

I had to run to the bank the other day and that got me thinking... the account that I still use today was originally established at that small Lamar Savings on the drag just across from Flapjack Canyon.

Lamar Savings was a home grown S&L that had what was probably one of the biggest roles in the S&L meltdown of the 80's. Here is a great discussion of what happened although this article really doesn't emphasize the shady real estate deals that Lamar Savings did all round Austin. This all happened right when Austin was changing from the sleepy town that no one knew into the "Best place to live in the USA" (Thanks a lot Parade Magazine)

It was very weird to think that the friendly folks at "my" bank had such a role in damaging Austin. It took years for the economy to recover and folks who lived here through the decline of the 80's will never forget it.

Re: Lamar Savings

Back in the 80's didn't Lamar plan to have a branch on the moon, or something outlandish like that?