Tackle the S&L crisis soon

The savings-and-loan crisis is now the largest U.S. government bailout in history. It is estimated the bailout could cost up to $500 billion over the next 40 years. The consequences of the bailout on the U.S. economy remain unclear. The potential exists that the costly bailout operation may cause a severe recession. Yet, little has been done to prosecute the individuals involved in the corrupt misuse of taxpayers’ money.

Rep. Olympia Snowe had the courage to recommend a special prosecutor be hired to find out exactly what happened in this debacle. Sadly, many of Snowe’s colleagues in Congress are afraid to tackle the crisis since some members may be up to their eyeballs in the corruption. Is it any wonder people don’t vote anymore when individuals who run for office are more interested in money, power, and status than representing the needs of their constituents?

A special prosecutor should be appointed to begin a thorough investigation of the savings-and-loan scandal and prosecute the crooks, even if they are in public office. David Lessard Plymouth