[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.