Cranston and Lincoln S&L; Scandal

Cranston is accused of interfering with the government’s review of Lincoln Savings and he has the gall to state if the government did not regulate the issuance of the bonds properly he will stick the taxpayers with his crime. Wait until we see more defaults in the area of “high-yield” junk bonds in savings and loan portfolios and pensions investing people’s retirement monies.

Will the government (aka, taxpayers) be responsible for bailing them out, too, as it is quite apparent that the abundance of junk bonds has prospered without the government exercising any responsible credit controls--and the failure to monitor is “guilt by default/apathy.”

ALBERT C. FARRELL

Beverly Hills