The Boston Globe, October 6th, 1988
WASHINGTON - The chairman of the Federal Home Loan Bank Board yesterday said his agency can no longer cover the cost of rescuing ailing savings institutions without placing "an exceedingly heavy burden" on the industry. M. Danny Wall, whose agency regulates the nation's 3,000 S&Ls, told the Senate Budget Committee it will cost $45 billion to $50 billion to clean up the industry, boosting an earlier projection by more than one-third. In July Wall said it would cost $31 billion, an increase from a previous estimate of $22 billion. Noting that the bank board has resolved 122 cases so far this yea...
HighBeam Research, Free Preview: 'S & L RESCUE BILL NOW ESTIMATED AT $45B'... Full Membership required for unlimited access. Free 7-day trial.
Subscribers: HighBeam content is only available to HighBeam subscribers. Click the link above for more information.
