BANKING & FINANCE

From Times Staff and Wire Reports

RTC Renews Plea for Money: The president of the Resolution Trust Corp. renewed the Bush Administration's plea for Congress to provide the savings and loan cleanup with more money before adjournment. The RTC has spent $87 billion since its creation in 1989. President Albert V. Casey has estimated that it would take up to $43 billion more to finish the job. In a letter to House Speaker Thomas S. Foley, he said the delay in funding costs taxpayers $6 million a day by allowing money-losing S&Ls; to remain open.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
67°