Nation : $85 Billion Needed to Save S
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WASHINGTON — The government will need at least $85 billion in the next decade to restore the financial health of the nation’s foundering savings and loan industry, a draft of a congressional report warned today.
The preliminary assessment by the General Accounting Office, the investigative arm of Congress, urged the Federal Savings and Loan Insurance Corp. to reform its procedures quickly for rescuing insolvent thrifts.
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