Government Aid
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Schorr’s column indicates that the FSLIC in connection with its supervisory transactions rescues stockholders of failed institutions. This simply is untrue. When the FSLIC arranges a merger or acquisition of a failed institution involving the payment of federal financial assistance, the shareholders of the insolvent party are wiped out--not rescued.
FREDERICK L. WEBBER
President
U.S. League of Savings Institutions
Washington, D.C.
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