Bass Disputes Thrift Allegation: Billionaire Robert M....
From Times Staff and Wire Reports
Bass Disputes Thrift Allegation: Billionaire Robert M. Bass’ purchase of failed American Savings & Loan Assn. of Stockton is saving taxpayers money, said Bass Group principal Bernie Carl. He challenged a House Banking Committee study suggesting it will cost taxpayers $4.37 billion, more than double original estimates of $1.7 billion, the Ft. Worth Star-Telegram reported. The paper said investigators concluded that it would have been cheaper to liquidate at a cost of $3.3 billion. Carl said the figures, though accurate, were incorrectly interpreted.
