The Nation - News from April 1, 1987

A House subcommittee voted to pump $25 billion into the ailing fund that insures savings and loan association deposits, with members saying that any less would fail to protect both depositors and investors. The House Banking subcommittee on financial institutions voted 23 to 20 for a proposal by Rep. Thomas R. Carper (D-Del.) that would raise $10 billion from assessments on the industry and $15 billion from bonds sold in the capital markets. The subcommittee later approved the revised bill 42 to 1 and sent it to the full Banking Committee, where it is scheduled for consideration today.