The Nation - News from Dec. 2, 1988

Senate Democrats handed out committee assignments for the 101st Congress, with new leaders selected for two key panels that will deal directly with the budget deficit and the savings and loan crisis. Donald W. Riegle Jr. of Michigan was named chairman of the Banking Committee, succeeding William Proxmire of Wisconsin, and Jim Sasser of Tennessee will take over the Budget Committee from Lawton Chiles of Florida. Proxmire and Chiles retired. The Democrats gained one seat in the Nov. 8 election to increase their Senate majority to 55 to 45 and kept the right to name chairmen and hold the majorities on the committees. The 101st Congress convenes Jan. 3.