Also, in the late 1970s and early 1980s, rapid increases in interest rates and price inflation caused many savings and loans to fail. Not because they didn't have sufficient assets, but because their assets were long-term mortgages while their deposits were mostly demand deposits, and as interest rates rose, people tried to remove their deposit balances and invest them in higher yielding products.

That sounds a lot like today, so I'm a little bothered that no one in the industry seems to remember the crisis that led to the regulator for savings banks being abolished and those institutions being regulated by the same regulators that cover commercial banks.