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Economy: Savings and Loan Regulations #119877

ABC Evening News for Monday, Nov 06, 1989
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(Studio: Peter Jennings) Govt. reported setting up new regulations for savings and loan industry

(NYC: Allan Dodds Frank) ABC News investigation into handling of the state and federal investigations into the collapse of Lincoln Savings and Loan Association featured; details given of Congress criticism of Federal Home Loan Bank Bd. chairperson M. Danny Wall for stalling in taking action against Lincoln. Accusation by Representative Henry Gonzalez that chairperson Charles Keating looted the S&L detailed. [GONZALEZ - comments.] [Bank board member Lawrence WHITE - discusses case against Lincoln.] [WALL - explains his lack of action.] Transference of jurisdiction in case from California to Federal Home Loan Bank Bd. recalled. [California report member Bill BLACK - says bank board shot us in the back.] FBI's investigation of possible criminal violations by Keating and other Lincoln officials noted. [Representative Steve NEAL - says there should be a federal investigation of both Keating's group and the federal regulators.] Gonzalez said asking President Bush to remove Wall until case is settled.

Reporter(s):
Frank, Allan Dodds;
Jennings, Peter
Duration:
00:03:40

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