ROANOKE TIMES 

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

DATE: FRIDAY, March 23, 1990                   TAG: 9003232758
SECTION: BUSINESS                    PAGE: B5   EDITION: EVENING 
SOURCE: 
DATELINE: WASHINGTON                                LENGTH: Short

BUSH COUNTERS BAILOUT CHALLENGE

President Bush moved swiftly Thursday to blunt a legal challenge to his savings and loan bailout by nominating T. Timothy Ryan Jr., a former Labor Department official, as director of the Treasury Department's Office of Thrift Supervision.

The Treasury Department recommended Ryan only two weeks ago. Background checks had been expected to take some time, but the White House accelerated its review in response to the court ruling.

The administration also asked a federal appeals court to overturn U.S. District Judge Royce C. Lamberth, who blocked the takeover of Olympic Savings and Loan Association, Berwyn, Ill., in ruling Wednesday that acting thrift office director Salvatore R. Martoche and his predecessor, M. Danny Wall, had been appointed unconstitutionally.

Government attorneys said Lamberth's preliminary injunction could unleash a flood of similar challenges and asked the U.S. Circuit Court of Appeals to consider their appeal on an expedited basis. - Associated Press 


 by CNB