Editor's note: Footnote 2 of this article references an American Banker commentary by
Kenneth H. Thomas in which he stated "The public did not realize the monster Congress
created until taxpayers got the roughly $500 billion bill for bailing out the thrift industry."
Subsequent to publication, Mr. Thomas informed us the $500 billion figure was a
typographical error and that he meant to write $150 billion, a figure he has used in
previous articles and more in concert with the cost of the S & L crisis calculated in this