Reasons for S&L; Crisis
If we lived in a true democracy, here is how the bill for the savings and loan mess might be distributed. Those in Washington who made it possible through legislation and those who owned/managed the S&Ls; that failed, would be stripped of all they own to pay the bill. Then those who had $100,000 or more on deposit would be taxed a certain percentage, going on down to lesser taxes for those who had only a few thousand on deposit. And the poor, urban dweller who never even heard of an S&L;? His tax bill for this would be zero.
Unfortunately, we have something that interferes with such a democratic spreading of the bill--they are called politicians!
FRANK W. HEISER
Riverside
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