For the savings industry, the effects may be even greater.
It clearly marked Texas as the major trouble spot in the nation's savings industry.
The information was attributed to unidentified sources in the savings industry.
The money would come from both taxpayers and the savings industry.
But the banking sector is almost three times the size of the savings industry.
The Administration said taxpayer money should not be used to rescue the nation's savings industry.
The bank board is the Federal agency that oversees the savings industry.
Further, the political debate over whether to keep a separate savings industry is sure to be intense.
Early last year, they disagreed over how to deal with the third world debt and the problems of the savings industry.
The move is likely to create more than $1 billion of capital for the savings industry.
