Go to
http://www.campaignwatch.org/refs4.htm#la092390
Excerpt:
09/22/1990
Atlanta Journal and Constitution
Page A/03
. . . The FDIC suit was filed in Denver, but also announced in Washington, D.C., shortly after President Bush ended a press conference on the White House lawn and left in a helicopter for a weekend at Camp David, Md. The case could have resounding political implications in November elections where S&L scandals and the looming $500 billion bailout have become volatile issues. -————————————————————————————————————
Google neil bush, bailout, credit and you will find plenty of articles showing the government bailout. Neil Bush and Silverado made the nightly news too many days. We all remember the bailout.
Here is a summary from a study on the cause of the crisis and its actual cost.
The savings and loan crisis of the 1980s and early 1990s produced the greatest collapse of U.S. financial institutions since the Great Depression. Over the 1986–1995 period, 1,043 thrifts with total assets of over $500 billion failed. The large number of failures overwhelmed the resources of the FSLIC, so U.S. taxpayers were required to back up the commitment extended to insured depositors of the failed institutions. As of December 31, 1999, the thrift crisis had cost taxpayers approximately $124 billion and the thrift industry another $29 billion, for an estimated total loss of approximately $153 billion. The losses were higher than those predicted in the late 1980s,when the RTC was established, but below those forecasted during the early to mid-1990s, at the height of the crisis.