With the government proposing to spend billions of dollars to bail out the savings and loan industry, the National Council of Savings Institutions will forego holding its annual convention in Hawaii this year.

President Bush has proposed a $90 billion bailout for the thrift industry over 10 years, half of the cost to be borne by thrifts and the other half by taxpayers.Charles John Koch, a Cleveland savings bank executive and chairman of the council, said Wednesday it would be inappropriate to hold the island meeting "when Congress and the administration are working to find a solution to this terrible crisis facing taxpayers and the Federal Savings and Loan Insurance Corp."

Last year, the U.S. League of Savings Institutions, another group, met in Honolulu, and the coverage showing executives under palm trees while the problems mounted angered members of Congress.