In search of S&L bits.

I Find Karma (
Mon, 26 Aug 96 01:21:53 PDT

I was having an argument with someone today (surprise surprise! :)
about the resolution of the S&L crisis, and I revealed my basic
lack of understanding (surprise surprise :) of the situation.

I'm wondering if anyone on FoRK has answers to any of the following

1. Was Reagan actively involved in the deregulation of the
Savings and Loan industry, which directly resulted in many Thrift
businesses engaging in risky activites that led to their failures?
[I was arguing yes, but I really don't know details.]

2. What is the total estimated US-taxpayer bailout amount
when all was said and done, of failed S&Ls?
[I was arguing it was on the order of $500 billion.]

3. How many current politicians were involved in one way or
another in a dealing with a failed S&L?
[We know that this was at the heart of Clinton's involvement
with Whitewater, and I know that Phil Gramm, AZ governor Fife
Symington, IL representative Henry Hyde, and Charles Keating,
all profited significantly from S&L deals.]

4. What was the role the junk bond market played in failed
S&Ls? Junk bonds still exist, and in fact, one of the most
profitable mutual funds right now consists of thousands of
junk bonds. How could the S&Ls lose so much money in the
junk bond market?
[I still have no idea about this one.]

5. Did failed S&Ls fund things like Iran-Contra?
[My source for this one is the Tim Robbins movie "Bob Roberts."]

In short, where on the Web can one find actual information about
the Savings and Loan fiasco?

Anyone? Anyone?

is the most interesting of Bob Dole's positions on his Internet
page (we do note his stand on abortion is noticeably absent from
the page). He almost comes across sounding libertarian:

Where Bob Dole Stands on Technology and Internet Issues


Bob Dole has long been a supporter of policies that foster innovation
and entrepreneurship. He understands that the United States must remain
the technological leader of the world.

Bob Dole recognizes the opportunities that the Internet and interactive
media can provide American citizens to express their ideas, enhance
individual liberty, and create and engage in electronic commerce. The
openness and decentralized nature of the Internet demands a new approach
to policy making that recognizes the unique characteristics of this new


Bill Clinton believes in bureaucratic micro-management of the
information economy.

Within his first 100 days as President, Bill Clinton proposed the
Clipper Chip -- a secret government-controlled encryption algorithm --
and a companion key escrow system where two government agencies would
hold a copy of the keys for every Clipper user. Since then Bill Clinton
has released updated versions of encryption proposals which insist that
the government hold a key to individual's private data communications.

The Clinton Administration's Internet Task Force has proposed
legislation that would reduce the rights of users of copyrighted
material if that information is used on the Internet. Their infamous
"NII White Paper" ignored important court decisions which balance the
rights of information users with those of information creators.


Bob Dole is concerned about children accessing unsuitable material when
using the Internet. But strict censorship of the Internet is not the
answer. Bob Dole believes that parents should take responsibility for
the material that their children view, and he wants to encourage
technology which allows those decisions to be made within each home.

Throughout his Senate career, Bob Dole has fought to protect the
Constitutional liberty of Americans:

Bob Dole is a supporter of the Pro-CODE bill that limits the federal
government's control of encryption and user keys. It permits the export
of software that includes encryption if the software is easily available
in this country.

Bob Dole strongly supports the observations made in the recent National
Research Council report that widespread use of encryption to promote
information security outweighs the difficulties encrypted communications
place on law enforcement. Economic espionage from foreign countries and
companies is a serious threat, and Bob Dole believes Americans should
have the right to guard themselves using encryption.

Bob Dole supported the Senate hearings on Internet copyright laws. The
hearings provided suggestions from information creators, Internet and
on-line service providers, librarians and Internet users on developing
compromises that balance the rights and needs of all participants.

Bob Dole fought for provisions in the Telecommunications Act of 1996
that encourage parents to take responsibility for the Internet material
which their children view.

Bob Dole helped pass the Bayh-Dole act of 1980 which helped create the
biotechnology industry by allowing inventions from federal research
dollars to be commercially developed.


Promote policies that ensure that the United States remains the world
leader in technological innovation.
Reject heavy-handed big-government regulations of cyberspace.
Promote policies that preserve and advance the openness and
decentralization of computer-based communications.
Preserve and protect American citizens' right to privacy and the need
for secure communications.


With Bob Dole as President, the United States will once again be the
world's technology leader. Americans will have the freedom to use the
Internet without governmental intrusion. He believes the American people
know best how to manage their own lives and their own computers.