Bush Wasn’t Hinting at New S&L; Bailout, White House Says
WASHINGTON — President Bush was not signaling any new bailout for the savings-and-loan industry when he disclosed that more financing might be needed, a White House spokesman said today.
Press Secretary Marlin Fitzwater told reporters that the President “was not signaling any new money or any new legislation or new financing” in his remarks at a news conference with editorial page editors Monday.
Asked about the savings-and-loan situation, Bush said: “I do know that we’ve got to clean it up, and it’s a whale of a mess. And we’ll see where we go, but we had this one refinancing. I am now told that that might not be enough.”
Fitzwater said that Bush had based his remark on conversations he had had, but has “no plans to take any action.”
The press spokesman declined to identify with whom Bush had talked about the thrift industry and where he received the pessimistic report.
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.
