ABC Evening News for Tuesday, Nov 29, 1988
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(Studio: Peter Jennings) Report introduced.
(DC: Allan Dodds Frank) High cost of savings and loan insts. featured; details given of financial problems facing S&Ls in which Federal Savings and Loan Ins. Corporation (FSLIC) has had to take over 150 S&Ls. [US League of Savings Insts. chairperson Theo PITT, Junior - discusses S&L fins.] [Representative Henry GONZALEZ - says FSLIC is bankrupt.] [Representative Jim LEACH - says public will have to pay for it.] Roots of S&L problem reviewed; its high-risk investments and fraud described. [FDIC (Federal Deposit Insurance Corporation) chairperson William SEIDMAN - discusses pols. that prevented government from solving problem.] Solutions open to Congress outlined on screen.
(Studio: Peter Jennings) Statistics on S&L losses given.
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