Off the Record

Watergate II. Cato has to hand it to the Democrats. A year after the resignation in disgrace of Speaker Jim Wright (D., Tex.) the new House leadership is trying to pin the blame for the savings-and-loan disaster on Republican deregulation in general and George Bush in particular. The latter effort stems from the involvement of the President’s son Neil in the case of the defunct Silverado S&L.

Potentially as damaging, a Common Cause report shows that California Republican gubernatorial hopeful Pete Wilson was the biggest recipient of savings-and-loan PAC money. The only reason this has not been used against him yet, says one GOP strategist, is that opponent Dianne Feinstein probably isn’t all that clean herself, given the money coming through her husband, Richard Blum. Mr. Blum, an investment banker, has bankrolled his wife’s campaign, and speculation is that he has his own ties to the S&Ls. In the primary campaign Miss Feinstein’s Democratic opponent, state Attorney General John Van de Kamp, challenged her to release a list of her husband’s clients. The challenge was refused.

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Watergate II. Cato has to hand it to the Democrats. A year after the resignation in disgrace of Speaker Jim Wright (D., Tex.) the new House leadership is trying to pin the blame for the savings-and-loan disaster on Republican deregulation in general and George Bush in particular. The latter effort stems from the involvement of the President’s son Neil in the case of the defunct Silverado S&L.

Potentially as damaging, a Common Cause report shows that California Republican gubernatorial hopeful Pete Wilson was the biggest recipient of savings-and-loan PAC money. The only reason this has not been used against him yet, says one GOP strategist, is that opponent Dianne Feinstein probably isn’t all that clean herself, given the money coming through her husband, Richard Blum. Mr. Blum, an investment banker, has bankrolled his wife’s campaign, and speculation is that he has his own ties to the S&Ls. In the primary campaign Miss Feinstein’s Democratic opponent, state Attorney General John Van de Kamp, challenged her to release a list of her husband’s clients. The challenge was refused.