Thrift Deals Cost $4.6 Billion: The Federal...
From Times Staff and Wire Reports
Thrift Deals Cost $4.6 Billion: The Federal Home Loan Bank Board’s controversial 1988 sales of more than 200 failed thrift institutions cost taxpayers $4.6 billion in 1989, according to a report obtained by the American Banker newspaper from the Federal Deposit Insurance Corp. The FDIC tally is the first official accounting of costs associated with the 1988 deals, which have come under fire from members of Congress and other critics for being overly generous to well-connected entrepreneurs.
