ROANOKE TIMES 

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

DATE: SATURDAY, April 21, 1990                   TAG: 9004230188
SECTION: EDITORIAL                    PAGE: A9   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

S&L BAILOUT SEEN AS UNENDING BURDEN

SEVERAL recent articles contend that we suckers who pay taxes will be burdened with the savings-and-loan bailouts till about the time of the Second Coming. I am led to believe that this was brought about by (1) the deregulation of the S&L system and (2) the fact that the S&L companies are insured by good old Uncle Sam. This little added tax burden of untold billions is in addition to the inept squandering of our taxes in paying interest on what the incompetents we send to Congress and the White House are borrowing.

Where in the foggy blue morning are our brains? What commercial insurance company would write a blanket coverage policy without some rules, regulations or exclusions?

If someone can provide the rationale behind this totally brainless policy of providing insurance for a system with no apparent controls, I would surely like to hear it. And while explaining that, maybe they would tackle accountability, an archaic word seldom used and never understood in Foggy Bottom.

\ R.K. CULBERTSON\ BLACKSBURG 


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