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Meeting
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“I am one citizen,” Mr. Eastham told the Congressman, “who is damn fed up with the idea that somewhere down the line it will cost billions. We’ve got to pay the bill, and what are Congressmen and Senators doing to cope with the payment, and what are you proposing aside from revenge to see that it never can happen again? Otherwise we have learned nothing.”
Rep. Slaughter said, “We must make the greatest efforts we can for the enforcement of the law. We should do something about fraud laws.”
“The FDIC is maybe not as bad as the FSLIC,” Mr. Eastham said. “Those people just went on picnics. They should be hanged.”
Maurice Herndon said he had spent “some years on the Hill. The American Bankers Association was the most powerful lobby in Washington. Their thrust was to get out of regulation, to be turned loose, and it was more or less the same with the savings and loans.
93.5%