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Economy: Savings and Loan Crisis #128720

ABC Evening News for Wednesday, May 23, 1990
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(Studio: Peter Jennings) Report introduced.

(Washington: Stephen Aug) Size and scope of the savings and loan problem examined; details given of how government has to take over insolvent S&Ls and sell their real estate. [Treasury Secretary Nicholas BRADY - says S&L problem is linked to real estate problem.] [Federal Reserve Board chairman Alan GREENSPAN - comments on the problem.] Bill for S&L bailout cited. [Brookings Institution Robert LITAN - likens payout to a Chinese water torture.]

(Studio: Peter Jennings) Report introduced.

(Washington: John Martin) Failure to handle the S&L crisis reviewed. [Representative Jim LEACH - says this is the greatest scandal of American history.] [Representatives Charles SCHUMER, Byron DORGAN - dole out the blame.] [Financial expert Burt HEALY - says there won't be taxes tagged specifically for S&L mess.] [SCHUMER - says President Bush fiddled while the S&L industry burned.] Washington noted now paralyzed by blame.

Reporter(s):
Aug, Stephen;
Jennings, Peter;
Martin, John
Duration:
00:04:20

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