Pages
The Battalion
Monday, April 9,191
MGERfS
Southwest Plan re-examined
Officials investigate the sale of thrifts under federal regulators
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693-0709
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DALLAS (AP) — Re-examining the sale of
thrifts under the so-called Southwest Plan, con
gressional investigators are focusing on accusa
tions that federal regulators favored certain bid
ders and conducted a sloppy auction.
The Southwest Plan sold 87 troubled Texas
thrifts in 15 transactions in 1988, at an estimated
cost to taxpayers of about $25 billion.
The plan and related documents in the hands
of congressional investigators could add to ques
tions about how the Federal Savings and Loan
Insurance Corp. sold ailing thrifts.
The Southwest Plan, which outlined 25 antic
ipated transactions, in each case named another
Southwest thrift institution as the likely buyer.
Obtained by the Dallas Morning News, the plan
was written two months before regulators offi
cially opened bidding.
First transactions under the plan were com
pleted only a month after bids were submitted
and closely resemble those planned before the
public was invited to bid.
The newspaper reported that four of the first
five deals announced under the Southwest Plan
nearly matched the secret plans made months
earlier.
“They knew who they wanted to win the deals,
and there was no getting in the door for the rest
of us,” said Dean Hoover, a North Dallas lawyer
who failed in his efforts to buy a franchise in the
Southwest Plan.
Hearings this week in Dallas will examine con
ditions that led to the Southwest Plan, especially
the misdeeds of savings and loan operators in the
mid-1980s and the inability of regulators to de
tect them.
Rep. Henry B. Gonzalez, San Antonio-D who
is chairman of the powerful House Banking
Committee, has launched hearings to study the
deals completed by the FSLIC in 1988.
_ ’ IC« “ “
Accusing FSLIC officials of favoritism and un
due secrecy in its conduct, Gonzalez also has
promised an inquiry into the Southwest Plan
process.
Industry observers said big franchises and
huge tax breaks virtually assured profits with
little risk for a small number of winning bidders.
Regulators elsewhere in 1988 sold or closed
223 institutions nationally in complex trans
actions, many modeled after the Southwest Plan,
at a cost of about $40 billion.
Criticism about the agreements helped
prompt Congress to dismantle the FSLIC last
year and replace it with the Resolution Trust
Corp., the agency now charged with selling failed
rifts;
thrifts and their assets.
Come Join Us
in
COMMUNITY WIDE
HOLY WEEK SERVICES
All Services held at First Baptist
Monday
A&NI HILLEL: will have Passover Seder at 7 p.m. at the A&M Hillel Student
Center.
BIOCHEMISTRY SOCIETY: will have a business meeting and election of offi
cers at 7 p.m. in Rudder. Cali 847-7055 for more information.
FIRST BAPTIST CHURCH
COLLEGE STATION
7:00 P.M. EACH EVENING
ALCOHOLICS ANONYMOUS: will have a discussion at noon. Call CORE at
845-0280 for more information.
MSC RECREATION COMMITTEE: will have a meeting at 5 p.m. in 145 MSC.
Call 693-3973 for more information.
LUTHERAN STUDENT MOVEMENT: will have a new decade Bible study at
8:15 p.m. at the All Faiths Chapel Meditation Room.
NARCOTICS ANONYMOUS: will have a discussion at 8:30 p.m. Call the
C.D.P.E. at 845-0280 for more information.
Sunday, April 8
DEACON LORD’S SUPPER
PHI THETA KAPPA: will have a meeting at the Flying Tomato at 7 p.m.
Monday, April 9-SIMON PETER
REV. LONNIE GREEN
First Nazarene Church, Bryan
TAMU ROADRUNNERS: will be discussing the road trip to New Orleans at 7
p.m. in 308 Rudder. Call Tony at 847-2270 for more information.
WOMEN IN COMMUNICATIONS: will have a general meeting and officer elec
tions at 8:30 p.m. in 014 RDMC. Call Sheri at 823-4150 for more informa
tion.
Tuesday, April 10-JUDAS
DR. BOB LESLIE
First Presbyterian Church, Bryan
A&M DEBATE SOCIETY: will have a meeting at 7 p.m in 135 Blocker. Call 847-
2117 for more information.
TAMU SNOWSKI CLUB: will have an informational meeting on the available of
ficer positions for the fall semester at 7 p.m. in 507AB Rudder. Call Todd
at 764-6437 for more information.
TAMU ENGLISH CLUB: will have Dr. Kosztolnyik speak at 7 p.m. in 229
MSC. Call Melissa at 847-0649 for more information.
THE MEDICINE TRIBE: will have a meeting at 5 p.m. in front of the Academic
Building, behind Sul Ross. Call Irwin at 846-3225 for more information.
Wednesday, April 11-PILATE
DR. BILL TOLAR
Southwestern Baptist Theological
Seminary
POLITICAL FORUM INSIGHT: will meet at 1 p.m. in the MSC Cafeteria Cash
iers Room. Dr. Stadelmann will speak. Call Stephanie at 847-1509 for
more information. ,
DEPT. OF MODERN AND CLASSICAL LANGUAGES: will have a guest lec
turer, William Arrowsmith, at 8 p.m. in 117 Kleberg.
Thursday, April 12-MARY
DR. CHARLES ALLEN
Retired, First Methodist Church,
Houston
MATH CLUB: will meet at 7 p.m. in 316 Milner Hall.
ASSOCIATION OF PROFESSIONAL SUPPORT STAFF: will have a presenta
tion by Dr. Sam Cotner at noon in 104 Hort/Forest Science Bldg. Call 845-
5360 for more information.
EXTERNAL AFFAIRS COMMITTEE: will have an orientation and organization
meeting at 8:30 p.m. in 404 Rudder. Call John at 847-0604 for more infor
mation.
RECREATIONAL SPORTS: entries close: Baseball and Homerun Hitting Con
test. Call 845-7826 for more information.
Firday, April 13-NICODEMUS &
BURIAL
DR. DICK MAPLES
First Baptist Church, Bryan
Tuesday
BRAZOS VALLEY BUSINESS AND PROFESSIONAL WOMEN’S CLUB: will
talk about “Workplace 2000-Careers for the Future" at 6:15 at the Ra-
mada Inn. Call 825-6798 for more information.
Sunday, April 15-8:30 & 10:55 A.M.
RESURRECTION SERVICES
DR. MALCOLM BANE
BRAZOS COUNTY A&M CLUB: will have a speaker, Coach Johnson, at noon
at the Alumni Center. Call Jennifer at 845-1814 for more information.
AGGIES FOR LIFE: will show the video “Eclipse of Reason” at 7 p.m. in 410
Rudder Tower. Call Michael at 696-7183 for more information.
First Baptist Church, College Station
Dr. Malcolm Bane, Pastor
2300 Welsh Avenue
696-7000
INSTITUTE FOR THE HEALING OF RACISM: will have an open discussion at
8:30 p.m. in 229 MSC. Call 846-1599 for more information.
Items for What’s Up should be submitted to The Battalion, 216 Reed McDonald,
no later than three business days before the desired run date. We only publish
the name and phone number of the contact if you ask us to do so. What's Up is
a Battalion service that lists non-profit events and activities. Submissions are run
on a first-come, first-served basis. There is no guarantee an entry will run. If you
have questions, call the newsroom at 845-3315.
Educator calls
for changes
to fight racism
DALLAS (AP) — One of the |
nation’s leading Hispanic educa
tors has called on educators io |
lead the Fight against institutiona
lized racism, saying dramatic |
changes must occur in the educa
tional work force.
“We now live in the most i
. mographically diverse nation in I
the world,” Arturo Madrid:
“Yet, by and large, we (minori
ties) are perceived as uni-dimen
sional and are regarded accord-
ingly”
I he president of the Tomas
Rivera Center, a California tl
tank in Claremont, Madrid made I
his comments Saturday to about
200 educators attending theNa-1
tional Education Association con
ference in Dallas.
While “de facto” segregation is ||
not as prevalent as in the
Madrid said female and minority
educators still are viewed as
“spare plants whose roots do not
grow deep.”
Madrid also called for greater j
freedom for teachers to design!
their own educational policies.
He said he supports recent Texas I
proposals to give teachers and ad
ministrators more authority to|
run their own schools.
“In the teaching profession, |
there is no incentive, there are r
rewards for growing and devel
oping,” he said.
But in return, he said, teachers!
must use that freedom to develop
more diverse educational meth
ods to help students who deviate
from the norm in their attitudes
and learning techniques.
Madrid criticized U.S. Secre
tary of Education Lauro Cavazos [
and Gov. Bill Clements for their
position that higher spending will:
not solve inequities in Texas pub
lic education. He said many state j
school districts fall below the basic
level of necessary funding.
But, he also warned that
money alone will not produce a j
more effective education system.
“The federal system rewards J
schools for not doing well,” he
said. “You get money because you |
have problems. The more prob
lems you have, the more money
you get.
“Now, let’s turn that around!
and say, ‘We’re going to reward
you for getting rid of problems."
Winona Anhaiser . .
Debra Bruce .
Jonathon Erickson
Sharon Jackson .
Lisa Jones .
Chris Kosel .
Michael Lindstrom
Lisa Mitchell
Phillip Patterson
Cheryl Riegel . .
David Vasquez
. Kathy Ballinger . . . Timothy Bancroft . . .
. . Mark Bryant . . . Bret Eckert . . .
. . . Jessica Estrada . . . Donna Felak . . .
. . Robert Johnson . . . Brent Jones . . .
. Mark King . . . Carol Klemm . . .
. . Jay Lefforge ... Greg Lenzen . .
. Denise McFarland . . .
. John Morton ...
. . Patricia Ramsey . . . Melissa Reser
Christi Stroup . . . Brian Untertneyer
. Carey WaddiU
. . Wyatt Martin
Neil Morris
. . Julie Vernon .
Kelly Williams . . .
Congratulations!
You’re Part of The Emst & Young T e
am!
Andtve’re proud you chose us!
Our future depends on outstanding
professionals like you.
Texzis A&M und
Bmsf ^ Yotmg —
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Ernst & Young is an equal opportunity employer M/F.