Fobaproa the FONAPRE ("Fondo de Apoyo Preventivo a las Institiciones de Banca Múltiple" or "Fund of preventive support to banking institutions") was founded to preserve the financial stability of banks, with the government having banks as trustees. By 1987, a parallel finance industry had been created with brokering firms, investment societies etc. To continue attracting investors, interest rates increased at the Bolsa Mexicana de Valores, and with the crash in the New York Stock Exchange, the national banking system was deeply affected and another devaluation came as a result. In 1990, in an attempt to prevent situations similar to those of
Rancho Bolsa de San Felipe Rancho Bolsa de San Felipe Rancho Bolsa de San Felipe was a Mexican land grant in present-day San Benito County, California given in 1840 by Governor Juan B. Alvarado to Francisco Perez Pacheco. Bolsa means "pockets" and refers to pockets of land in the Tequisquina Slough. The grant was bounded on the north by Rancho Ausaymas y San Felipe and the south by Rancho San Justo, and encompassed Dunneville. The two square league grant was made to Francisco Pacheco, who was the owner of Rancho Ausaymas y San Felipe and Rancho San Justo. Francisco Perez Pacheco (1790–1860), born in Mexico,