Word: bowsher
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...Evers 2-4 4-4 9, Richards 9-17 3-4 25, Fudd 3-11 2-2 8, Mitchell 2-13 0-2 4, Hodges 6-14 3-4 15, Hollensteiner 1-7 2-4 4, Bowsher 0-0 0-0 0. TOTALS...
...crack down on former House sergeant at arms Jack Russ, whose sloppy oversight of the now defunct bank permitted members to write overdrafts long after Russ had assured the Speaker that new procedures to prevent such abuses had been installed. Even after Foley was warned by comptroller general Charles Bowsher in 1989 that Russ himself had bounced $104,825 worth of personal checks at the bank, the Speaker made only one try to remove...
...thought the savings and loan disaster couldn't get much worse, well, think again. In the gloomiest assessment of the megamess yet, U.S. Comptroller General Charles Bowsher said last week the Resolution Trust Corporation, which is handling the bailout, was in such disarray that government accountants cannot even audit its books. That means Washington has no clear idea of how much the bailout will ultimately cost as the RTC shuts more than 1,000 bankrupt S&Ls and sells off real estate and other assets...
There is little doubt, however, that the price tag is going up. While the Bush Administration has earmarked $130 billion for the bailout, Bowsher said the RTC will require at least $150 billion as depressed real estate markets slash the value of RTC holdings. When interest charges are included, the final cost of the cleanup could approach $500 billion over the next 40 years...
...Bowsher warned that taxpayers may also have to bail out the banking industry if Washington cannot agree on how to replenish the dwindling Federal Deposit Insurance Corporation fund. It could lose more than $23 billion over the next two years as the commercial real estate depression causes hundreds of shaky banks to fail...