For Oklahmans: Financial Meltdown Feels Like Oil Bust OKLAHOMA CITY, OK (kccu-fm) - Oklahomans who lived through the 1980s oil bust find themselves feeling a bit of deja vu as they are bombarded by headlines about the failure of Wall Street financial institutions, plummeting housing values in large urban areas and families losing their homes.

The financial meltdown attributed to the sub-prime mortgage market crisis has barely been felt in Oklahoma, where a strong energy industry has helped keep the state's economy humming.

But it was a different story 25 years ago, when oil prices collapsed and speculative bank loans based upon energy values turned sour.

Oklahoma bankers and those involved in the state's banking industry say the two bear striking similarities in their root cause.

And they say the fallout from the Wall Street mess will probably also closely resemble what happened in Oklahoma, where regulations were tightened and banks came under more scrutiny. © Copyright 2009, kccu-fm