On the recordFebruary 10, 1994
In the broadest sense, the issue is one of recovery of taxpayer lost resources. In what we have all come to understand as the largest public sector mistake of the century--the S&L debacle--where the taxpayers lost about a quarter-of-a-trillion dollars, less than 1 percent has been recovered. Part of the reason relates to, in the broadest sense, to the complicated nature of financial institution litigation. For example, in Texas, where there is several hundred billion dollars in taxpayer losses, the recovery rate has been almost negligible. The RTC, frankly, in a circumstance of major litigation, has not had the time nor the resources to pursue all it needs to pursue. In the more narrow sense, it certainly is true that the minority is concerned about responsibility for failure of a particular institution in the State of Arkansas, which cost the American taxpayer $60 million.
Source
govinfo.gov
