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A Solution to the S&L Crisis

The Opinion page article "The S&L Crisis Is Far from Over," Oct. 29, predicts further problems in the industry. If the prognostications prove true, it furthers the argument that the Federal Deposit Insurance Corporation (FDIC), the organization responsible for "picking up the tab" on failed S&Ls should have its authority expanded to permit it to issue bonds for the obligations, similar to the types of bonds which are now permitted by FHA, Fanny Mae, and other similar organizations.

Depositors in failed S&Ls with deposits exceeding $10,000 should be paid in bonds, and those deposits less than $10,000 should be paid in cash. Through the insurance of bonds, the taxpayer's liability could be diverted to the public market. The same approach should be applicable to other institutions, such as commercial banks which are members of the FDIC. George C. Scott, Locust, N.J. Bush and the history books

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Regarding the Opinion page column "Mr. President: Some Friendly Advice," Oct. 16: I don't think that history is going to applaud President Bush for his role "in managing the breakup of the Soviet Empire." Rather, it will perhaps ask why he didn't do more to support the ex-Soviets in their struggles to establish democratic governments and market economies. The author states: "What knowledgeable person would swap the overall economic position of the United States for that of any other country?" As an Ameri can living in France, I submit that economic power does not automatically bestow satisfaction. How many Americans know that 1 percent of American families control 37 percent of America's wealth? Mass materialism did not used to be a part of our American heritage. Susan C. Billaudel, Paris Pulling an underdog victory

The Opinion page article "A Tale of Two Campaigns," Nov. 2, mentions two reasons why the Conservative victory in Britain might not be matched by the Republicans here. Curiously, the author omits a third reason: The Conservatives had already voted out former Primer Minister Margaret Thatcher, while our Republicans were still stuck with President Bush long after United States voters were fed up with him. John T. Wilcox., Binghamton, N.Y. If Perot were president

I appreciate the Opinion page article "Perot Is Refreshing; Perot Is Dangerous," Oct. 30. The double-bind Ross Perot presents is well expressed: On one hand he appeals to people's deep frustrations with the political establishment and the feeling of their powerlessness and uncertainty. Mr. Perot addresses the catastrophe of the debt clearly and forcefully. On the other hand he presents himself as a servant of the people, and he castigates the press for its descent into irrelevancies. Perot's rhetoric sou nds good and is probably sincere, but he would not be the passive implementor of the people's wishes. The danger of a fascist or totalitarian regime under Perot is small, yet nevertheless present. Richard J. Lee, Charlottesville, Va.

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