Supreme Court Will Review Texas Thrift Ruling:...
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Supreme Court Will Review Texas Thrift Ruling: In a case affecting the government’s efforts to deal with the S&L; crisis, the court agreed to decide whether federal regulators can be held liable for supervisory acts in running a troubled thrift. The court said it would hear a Justice Department appeal seeking to dismiss a lawsuit by Thomas Gaubert, former chairman of Independent American Savings Assn., a Texas thrift that was closed in 1987. He charged in the suit that the thrift’s failure was caused by the negligence of regulators.
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