Question

In the 1980s, banks lent money to high-risk borrowers, such as ranchers, farmers, and __________. A. oilmen B. technological innovators C. politicians D. factory workers

Answer 1

A. oilmen

Step-by-step explanation:

During the 1980s, there was a boom in the oil industry, and many banks saw it as an opportunity to lend money to oilmen who were exploring and drilling for oil. However, this lending strategy proved to be risky, as the oil prices eventually fell, and many of these borrowers were unable to repay their loans, leading to a wave of bank failures and a financial crisis in the United States known as the Savings and Loan Crisis.