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

DATE: FRIDAY, May 25, 1990                   TAG: 9005250138
SECTION: BUSINESS                    PAGE: A9   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                LENGTH: Short

BUSH VOWS TO PROTECT DEPOSITORS

President Bush expressed "great concern" Thursday over the ever rising tide of savings and loan failures and promised to protect depositors from losing their savings.

"We don't know the impact on the taxpayer yet. We do know that we are going to protect the depositors, and that's what this is all about," Bush said at a news conference.

On Wednesday, Treasury Secretary Nicholas Brady upped the estimates of how much the government will have to borrow to finance the takeover of collapsing S&Ls.

"We can't brush this problem under the rug. It has been building for 20 years . . ., " Bush said at the White House on Thursday.

Meanwhile, the federal agency spending most of the bailout money made a controversial decision to override state branch banking laws, a move almost certain to land it in court battles.

- Cox News Service

by CNB