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_Public Citizen's_ Report: Congress Watch: S&L Scandal

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    "Working with Rep. Joseph Kennedy (D-MA) and the Financial
    Democracy Campaign, a coalition of labor, community, religious,
    and housing groups, Public Citizen lobbied Congress to shift the
    burden of the bailout onto corporations and the wealthy.

    "And, in the closing hours of the 1990 legislative session,
    Congress Watch blew the whistle on a little-publicized effort by
    the Bush Administration to sneak an additional $57 billion bailout
    through Congress without any reforms to assure fairness.
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                     C O N G R E S S   W A T C H
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Savings and loan scandal.
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The federal bailout of failed S&Ls, whose costs are estimated at
between $500 billion and $1.4 trillion over 40 years, stands as the
chief symbol of 1980s-style reckless deregulation and political
corruption. Across the country, citizens are angry about bearing the
burden of this scandal, and the New York Times identified Congress
Watch as playing the leading role in mobilizing citizens against
unfairly allocating the cost of the bailout.

Working with Rep. Joseph Kennedy (D-MA) and the Financial Democracy
Campaign, a coalition of labor, community, religious, and housing
groups, Public Citizen lobbied Congress to shift the burden of the
bailout onto corporations and the wealthy. And, in the closing hours
of the 1990 legislative session, Congress Watch blew the whistle on a
little-publicized effort by the Bush Administration to sneak an
additional $57 billion bailout through Congress without any reforms to
assure fairness.

In October, Random House published _Who Robbed America? A
Citizens' Guide to the S&L Scandal_, written by the director and staff
of Congress Watch. A plain English handbook, the volume included an
appendix spelling out financial industry PAC contributions to each
member of Congress -- and how they voted on key S&L issues.