
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, November 26, 1993                   TAG: 9311260077
SECTION: NATIONAL/INTERNATIONAL                    PAGE: A6   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                LENGTH: Short

CLINTON PICK TO HEAD RTC WITHDRAWS

Stanley Tate, President Clinton's choice to head the Resolution Trust Corp., has asked that his nomination be withdrawn, according to administration officials.

Tate, 65, a Miami real estate developer and a Republican, was accused by RTC staff members of using his influence improperly after being nominated by Clinton to head the government's effort to clean up the remains of the savings and loan debacle.

The RTC post is considered one of Washington's most difficult-to-fill jobs. The cleanup effort has been expensive, politically unpopular and marked by charges of mismanagement.

Since April 1992, political bickering had left the agency without money to shut failed thrifts, until Congress this week gave the RTC the authority to spend as much as $18.3 billion. If all that sum is used, taxpayers will have spent more than $100 billion on the effort - the most costly government rescue ever.

Tate had served as chairman of one of several RTC advisory boards during the Bush administration. - The Washington Post

by CNB