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Page 6 The Battalion Friday, April 7,1989
"" " ... - - - - T -- r, -r . - - - ^
Group of Texas financial officials
send out ‘SOS’ signals for thrifts
MSC Political Forum brings bank, S&L representatives to A&M
By Holly Becka
REPORTER
Texas has been number one in many things
over the years and the state currently leads the
nation in bank failures, said Arthur James, Texas
A&M economics lecturer and moderator for
Thursday’s MSC Political Forum, “SOS - Saving
our Savings.”
The forum’s discussion centered on the bank
ing and savings and loan industries’ problems,
with panel members representing the Federal
Deposit Insurance Corporation, the Texas De
partment of Banking, the Texas Savings and
Loan League and the FBI offering insight on the
banking problems.
Panel member Larry Chilton, departmental
examiner with the Texas Department of Bank
ing, said he never expected to see so many bank
failures in Texas.
“In 1984 there were six failures, one year later
that number had doubled ... in 1987 there were
about 50 failures and in 1988, which was a i ecord
year, 113 banks failed in Texas,” Chilton said.
“There have been 47 failures so far in 1989.”
Chilton said 254 banks and savings and loans
have failed in the past Five years in Texas, com
pared with 800 bank failures nationwide.
The panelists gave different reasons for bank
ing and savings and loans problems.
Chilton said bank mismanagement and the
Texas economy — with its oil and gas busts, the
agricultural struggle and the depreciation of real
estate value — were the main problem-causers
for the banking industry.
Tom King, president of Texas Savings and
Loan League, agreed that today’s problem is a
real estate problem and not a Financial institution
problem.
“Eighty percent of savings and loans’ assets are
invested in real estate,” King said. “We’re caught
in a squeeze right now because of decreased
property value.”
King also said he thought “entrepreneurs” had
taken advantage of the system while it was down.
Lawrence Morgan, deputy regional directoi of
the FDIC, said farming problems and the fact
that no one expected the economy to fall, added
to the cause of the Texas banking problems.
Michael Williamson, special agent of the FBI
offered a different view.
“Some people believe you can influence a rtil
estate market with a series of calculated trans.
actions,” Williamson said. “A false view ofhigliti
property values can be placed into themarkeih
a less-than-arms-length (criminal) transaction
Property value is (f alsely) driven up for persoial
gain, which makes it unfair for the honest person
to make business decisions.”
James answered, saying he felt a problem still
would exist even if there was not a criminal in
Texas because of the economic reasons.
King said the Financial Institution Reform,
Recovery and Enforcement Act of 1989 has beer
introduced to the senate and the house. The art
would restructure the S&L Industry, restrict tit
S&L’s actions in the future and deal withhowtlt
government would pay for the cost of the resolu
tion and the repayment of those costs
The bill has been proposed by the presideut
and maybe vve’ll see something by the middle of
May King said, “but we need to rebuild tit
economy and we need Financing to resolve tit
cases.’
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Motorcycle helmets
get OK from House
AUSTIN (AP) — Fexas House
members Thursday Finally approved
a bill requiring motorcycle riders to
wear helmets, but added an amend
ment allowing riders with a doctor’s
excuse to go without headgear for
10 days.
The House also approved a bill
requiring community mental health
and mental retardation centers to re
ceive approval from the Texas De
partment of Mental Health and
Mental Retardation before acquiring
property.
That bill was passed after an
amendment failed that would have
required public hearings and notifi
cation of residents near proposed
community centers.
The motorcycle helmet bill re
ceived tentative approval Wednes
day in a 82-55 vote and Gov. Bill
Clements said he would sign the
measure into law. The bill has al
ready gained Senate approval.
Prior to the final vote, state Rep.
Dick Waterfield, R-Canadian, pro
posed an amendment that would
exempt a motorcycle rider from
wearing a helmet for 10 days if he
has a medical condition that would
be aggravated by the helmet.
Waterfield said a person may have
a cut or other head injury that would
prevent wearing of a helmet.
The amendment passed without
objection and the bill was approved
in a non-record vote. The bill will
now go back to the Senate for con
sideration of the change.
The community mental health bill
was also tentatively approved
Wednesday.
Lewis hopes prisons
won’t need bond issue
AUSTIN (AP) — House
Speaker Gib Lewis said Texas’ re
bounding economy may allow
lawmakers to pay for new prison
construction now rather than is
suing more bonds and paying for
the facilities into the next cen
tury.
Lewis of Fort Worth said
Thursday he has urged the
House Appropriations Commit
tee to fund prison construction
out of available revenue.
State leaders have agreed to
fund construction of 10,800 new
prison beds at a cost of approxi
mately $343 million to handle the
overcrowding problems and fu
ture inmate projections within
the Texas Department of Correc
tions.
Lawmakers have approved
funding 5,000 of (Fte proposed
beds and a 500-bed psychiatric
unit through $138 million in
bonds that have already been ap
proved by voters. Gov. Bill Clem
ents has said he supports this
plan.
Officials have also proposed
going to the voters again in No
vember for bonds to build the re
maining 5,000 beds.
Through various bookkeeping
measures and tax adjustments,
the Legislature has been able to
raise about $1 billion in additio
nal revenue.
Lewis said it would be better to
spend those funds on one-time
expenses, such as the construc
tion of a prison, then on pro
grams that will demand more
funds in future years.
You are invited to a iplirLy
April 7 & 8
(It's Parent's Weekend so bring your parents)
at the
MicroComputerCenter
Computer Sales and Supplies
Located inside the Texas A&M Bookstore
Monday thru Friday 7:45 a.m. - 6:00 p.m.
Saturday 9:00 a.m. - 5:00 p.m.
(409) 845-4081
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