Word: bailouts
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...more and more thrift executives got into trouble in 1987 and 1988, S & L PACs simply stepped up their campaign giving; by the time Washington finally got around to addressing the S & L crisis this year, the cost of a bailout had swollen to an outrageous $158 billion or more over the next eleven years. Over the past three elections, according to the Wall Street Journal, the S & Ls gave $4.5 million to the members of Congress willing to protect them. House Banking Committee member Jim Leach, an Iowa Republican who refuses to take PAC money, believes this...
...odor with the public. But a reasonable pay raise keyed to automatic cost of living increases -- in exchange for a total loophole-proof ban on honorariums, gifts and free trips -- looks like a bargain when put up against, say, the average $14 billion annual cost of the S & L bailout. Some degree of public financing of campaigns might also help cut the umbilical cord between Congress and special interests, but last year campaign-reform efforts bogged down in partisan fighting and constitutional questions. This year the issue is hopelessly deadlocked...
...talk hosts go, joined KING last November. He has railed against local police for laxity in the antidrug war and against Eastern Air Lines Chairman Frank Lorenzo (he joined a picket line during the current Eastern strike). Soon he hopes to stir passions over the savings and loan bailout. "I'm not a Pied Piper," he says, "but I do believe in what...
...Government's objective in liquidating such real estate will be to get nearly full market value, not only to reduce the eventual cost of the S & L bailout to taxpayers but also to avoid undercutting the going rates in the marketplace. Yet the Federal Savings and Loan Insurance Corporation, which currently holds most of the repossessed property and will be combined with the FDIC under the Bush plan, has seldom shown a talent for getting top dollar. In Guerneville, Calif., a small town north of San Francisco, the FSLIC took over a condominium project with more than 20 units...
BUSINESS: A huge hoard of real estate will burden the Government as it carries out the savings and loan bailout...