1. Ch. 22-2 Savings and Loan Scandal Poor investments by S&L owners Poor investments by S&L owners Govt. insured savings deposits so they had to help the banks Govt. insured savings deposits so they had to help the banks Govt. took over the banks and cost the taxpayers $300 billion Govt. took over the banks and cost the taxpayers $300 billion

2. Decline of Communism 1989- Poland held free elections 1989- Poland held free elections Soon most E.European countries held free elections Soon most E.European countries held free elections Gorbachev’s “Glasnost” allowed for this to happen Gorbachev’s “Glasnost” allowed for this to happen

3. Fall of the Berlin Wall (1989) Berlin Wall divided E. & W. Berlin Berlin Wall divided E. & W. Berlin Symbol of the Cold War Symbol of the Cold War November 1989 people tore down the wall November 1989 people tore down the wall

5. Fall of the Berlin Wall

6. End of the Cold War Fall of the Berlin Wall considered the end of the Cold War Fall of the Berlin Wall considered the end of the Cold War 1990 Germany finally reunited 1990 Germany finally reunited “Iron Curtain” has now collapsed “Iron Curtain” has now collapsed 1991- Soviet republics declared their independence 1991- Soviet republics declared their independence USSR is now dead USSR is now dead

8. Crisis in Bosnia Yugoslavia- consisted of 6 republics with different ethnic groups Yugoslavia- consisted of 6 republics with different ethnic groups Civil War resulted b/c Serbs didn’t want Yugoslavia to break up Civil War resulted b/c Serbs didn’t want Yugoslavia to break up United Nations unsuccessfully tries to stop the ethnic cleansing United Nations unsuccessfully tries to stop the ethnic cleansing

9. Crisis in the Persian Gulf Aug. 1990- Iraq invaded Kuwait claiming its oil wells Aug. 1990- Iraq invaded Kuwait claiming its oil wells U.S. & U.N. troops moved into Saudi Arabia U.S. & U.N. troops moved into Saudi Arabia January 1991- Air force attacks Iraq January 1991- Air force attacks Iraq

11. Persian Gulf War

12. Operation Desert Storm Feb. 1991- Forces invade and defeat Iraq in 3 days Feb. 1991- Forces invade and defeat Iraq in 3 days UN placed sanctions over Iraq UN placed sanctions over Iraq Many criticized Bush for not removing Saddam Hussein from power Many criticized Bush for not removing Saddam Hussein from power

13. Bush v. Clinton (1992) Bill Clinton (D) called for “time for a change” Bill Clinton (D) called for “time for a change” 3 rd Party- Ross Perot won 19% of the vote 3 rd Party- Ross Perot won 19% of the vote Bush lost b/c of the poor economy Bush lost b/c of the poor economy

14. Bill Clinton (D) 1993-2001