Claims by Texas Gov. Bill Clements that...

Claims by Texas Gov. Bill Clements that the federal government would “belly up” on its promise to insure deposits in savings and loans has sparked an increase in withdrawals from thrifts in the Texas Panhandle, said Roy G. Green, president of the Federal Home Loan Bank of Dallas. “It may be an immediate knee-jerk reaction,” he added. “It’s not something I would characterize as a phenomenal problem.” He said there was no question, however, that the increase in withdrawals was the result of Clements’ comments, published in the Amarillo Globe-News. Clements told the newspaper that the government was defrauding the public by propping up insolvent thrifts.