Knapp Not to Blame

Regarding the April 23 column by James Flanigan, “We Haven’t Seen the End of S&L; Crises”:

The column states that Charles Knapp “took the old Financial Corp. of America to bankruptcy.” This is another example of The Times wrongfully blaming Knapp for things he did not do.

Knapp left FCA in August, 1984. At that time, FCA was solvent and not on the verge of bankruptcy. Knapp was not involved in FCA’s management for more than four years before its bankruptcy and had nothing to do with FCA’s financial results since 1984.

To state that Knapp “took” FCA to bankruptcy is irresponsible reporting.

ARTHUR N. GREENBERG

Los Angeles

The writer, a lawyer who represents Charles Knapp, is with the firm of Greenberg, Glusker, Fields, Claman & Machtinger.