Don't Touch My Bailout

Bush's tough S & L bill survives an industry challenge

When renegade House Republicans made a last-ditch attempt to soften President Bush's tough savings-and-loan bailout bill last week, there was nothing wimpy about his response. As the House debated the legislation, the President corralled congressional leaders and took his cause to the people. "It is time for the American public and our Administration to say that enough is enough," Bush said. If the House weakened the stringent new regulations of the bill, the President warned, he would veto it. By week's end Bush prevailed when the House approved a strong bailout bill by a vote of 320 to 97. In all,...

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