Warning by S&L; Regulator: The Bush Administration...

Warning by S&L; Regulator: The Bush Administration will be forced to double its initial spending on savings and loan rescues if Congress restricts the financial power of the new S&L; bailout agency, thrift regulator M. Danny Wall said. If a congressional conference committee next month adopts the House version of the S&L; bill, Wall said the new agency, called the Resolution Trust Corp., would need to spend at least twice the $50 billion it is due to receive over the next three years. The House bill, unlike the Senate version, forbids the bailout agency from issuing promissory notes or loss guarantees extending its liability beyond the $50 billion.