Letter to Congressional Leaders on Savings Association Insurance Fund Legislation
The Congress has before it a proposal from the Administration that would restore the Savings Association Insurance Fund to full health and assure that interest payments on the socalled FICO bonds continue uninterrupted. With the enactment of this legislation, we could all take pride in achieving a resolution of the last remaining consequences of the thrift industry's problems of the 1980's. Moreover, we can do so without imposing additional costs on American taxpayers.
This necessary proposal will protect taxpayers, who have already paid over $125 billion to assure that no insured depositor suffered any loss as the result of these problems. I believe this legislation has broad bipartisan support, and I urge the Leadership to consider immediate Congressional action.
NOTE: Identical letters were sent to Newt Gingrich, Speaker of the House of Representatives; Robert Dole, Senate majority leader; Thomas A. Daschle, Senate minority leader; Richard K. Armey, House majority leader; and Richard A. Gephardt, House minority leader. This letter was made available by the Office of the Press Secretary but was not issued as a White House press release.
William J. Clinton, Letter to Congressional Leaders on Savings Association Insurance Fund Legislation Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/222197