President Bush and top advisers conferred for more than 31/2 hours on the savings and loan crisis Saturday, but the president made no decisions, the White House said.
The advisers - including Treasury Secretary Nicholas F. Brady, Budget Director Richard Darman and Chief of Staff John Sununu - traveled to the president's Camp David, Md., retreat for a working session from 11 a.m. to 1 p.m., said B. Jay Cooper, a presidential spokesman.Federal Reserve Board Chairman Alan Greenspan joined the group for lunch, which broke up shortly after 2:30 p.m.
"Options were presented to the president. He made no decisions at the meeting," Cooper said.
Among proposals that were to have been presented to the president were plans to raise $54 billion over three years through complicated financing arrangements based largely on boosting deposit insurance premiums paid by the institution, according to a report Saturday in The New York Times.
The plan would call for banks to pay 18 cents in insurance premiums for every $100 in deposits, while savings and loans would pay 25 cents per $100, according to unnamed congressional aides cited by the newspaper. Banks currently pay 8 cents per $100 in deposits, while S&Ls pay 21 cents.
White House aides, speaking on condition of anonymity, said Friday that a controversial fee paid by bank and S&L depositors likely would not be a part of the package.
Bush met with industry officials on Thursday and congressional leaders Friday and said he would lay out his plan early this week. He plans to include the subject in a nationally broadcast speech to Congress on Thursday.