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Economy: Savings and Loan Insts. #559924

NBC Evening News for Saturday, Nov 26, 1988
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(Studio: Connie Chung) Report introduced.

(DC: Irving R. Levine) Savings and loan insts. crisis featured; details given of S&L financial losses. [Representative Henry GONZALEZ - calls it an urgent problem.] [FSLIC chairperson Danny WALL, financial consultant Robert LOSEY, ex-OMB director James MILLER - give projections of costs to solve S&L crisis.] Suggested plan by Treasury Department, headed by Nicholas Brady, detailed. [LOSEY, MILLER - comment on Treasury plan.] Wall Street solution of stalling in hope that real estate slump will end explained. [Econ. Irwin KELLNER - talks about need to buy time.] [GONZALEZ - discusses possibility of chaos.] Problems facing Congress and President-elect George Bush noted. [MILLER - says problem is to extricate ourselves from present situation without very high cost.] Contradiction between need for taxpayer money and Bush position on no new taxes reiterated.

Chung, Connie;
Levine, Irving R.

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