Today’s prompt, "a photo," sent me running to Instagram, specifically to an account called @vintagetribune, which is run by the Chicago Tribune and features news photos from the past, some from just a few years ago, some from the early days of newspaper photography. This picture caught my eye, because I worked at Stewart-Warner, which manufactured auto and truck parts (among other things), from late 1979 to around Memorial Day, 1980, when they laid me off. I was a second-shift supervisor, and they let the whole second shift go. That event sent me back into the world of computers. The company closed about two years after I was let go.
This was written for Just Jot It January, which is hosted by Linda Hill. Check her blog for the rules, if you’re interested in joining us. Now a word from The Savings and Loan Foundation, who wants you to know how money works.
At one time, savings & loans were responsible for more than half of all home loans in the country. They failed quickly in the 1980’s as more types of financial institutions got into the mortgage business and as the S&L’s started taking on riskier loans, among other reasons, which are detailed here. My first real job out of college was as a programmer with the Federal Home Loan Bank of Chicago, and we oversaw the S&L’s along with the FSLIC and other regulators.