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George H.W. Bush becomes the successor of Reagen and gets voted into office.
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President Bush, at a White House press conference, introduces his bail-out plan for troubled savings and loans banks. It provides for the sale of $50 billion in government bonds to finance the bail-out and gives the Federal Deposit Insurance Corporation (FDIC) regulatory oversight over S&Ls.
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In the worst oil spill on American territory, the Exxon Valdez supertanker runs aground in southeastern Alaska. The tanker dumps 240,000 barrels of oil into the surrounding waters and causes extensive environmental damage.
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American armed forces invade Panama to capture Manuel Antonio Noriega, the country's military dictator. Noriega, who had been indicted in the United States on drug trafficking charges, surrendered on January 3, 1990. He was convicted on drug charges on April 9, 1992, and sent to prison.
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The Persian Gulf War, code-named Operation Desert Storm, begins with a massive, American-led air attack on Iraq.
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President Bush signs the Americans with Disabilities Act, which affects over 43 million Americans and forbids discrimination in employment, public accommodations, and transportation.
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The Soviet Union breaks into seperate nations.
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On January 20th, 1993, Bill Clinton succeeds George H.W. Bush and gets voted into office.
