Abstract

Sinking Feeling

This article presents information on the federal government's regulatory system in the U.S. According to the author the politician Jim Leach recently released a stack of documents that he said proved that the independence of the federal government's regulatory system has been flagrantly violated in an effort to protect a single American citizen i.e., William J. Clinton and that the Clintons benefited financially as the Whitewater investment turned into a skimming scheme that used the federally insured deposits of an S&L. Internal memos of the Resolution Trust Corporation (R.T.C.), the government entity overseeing failed thrifts, do indicate that career R.T.C. and Justice Department officials in Washington fretted that investigating the Madison Guaranty Savings and Loan might cause political problems because of the connection to the Clintons.