NCJ Number
132555
Journal
Journal of Security Administration Volume: 14 Issue: 1 Dated: (June 1991) Pages: 65-103
Date Published
1991
Length
39 pages
Annotation
This paper examines the nature of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 and assesses the impact and implications of this legislative effort to save the thrift industry.
Abstract
There are some indications that the bailout legislation itself is flawed as it did nothing to reorganize the deposit insurance system, that Congress will need to appropriate even more funds to deal with the crisis, and that the legislation created new regulatory responsibilities without providing for adequate staffing. As the number of insolvent savings and loan institutions continues to increase, both the new Resolution Trust Corporation, which will take possession of insolvent thrifts, and other Federal regulators and investigators are learning that resolving the problems and prosecuting the swindlers and looters are elusive tasks. 2 figures, 1 appendix and 29 references