S&L; Solution
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Regarding the Sept. 25 Viewpoints column, “Deposit Insurance Should Be Rolled Back: Take Federal Support Away, and Banks and Thrifts Will Do a Better Job”:
Congratulations. Finally a well thought out argument has appeared concerning the sanctity of deposit insurance. An initial limit of $25,000 per person would be a good compromise between swindling the taxpayers (as at present) and hurting the unsophisticated saver.
Today, there are so many sound ways to save that federal officials can retire from the job of protecting our savings.
As for Sen. William Proxmire’s proposal that the taxpayers of America ought to underwrite government incompetence to the tune of at least $20 billion in taxpayer dollars--absolutely not. You’ve legislated us into this mess, Senator, now legislate us out of it.
RONALD BENKERT
Marina Del Rey
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