    [Weekly Compilation of Presidential Documents Volume 32, Number 17 (Monday, April 29, 1996)]
    [Page 723]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Letter to Congressional Leaders on Savings Association Insurance Fund
    Legislation

    April 24, 1996

    Dear __________:

        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 so-called 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.
        Sincerely,
                                                      Bill Clinton

    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.