A Lot Of Thrifts Are Thriving
Your otherwise positive article "Great Western is keeping its branding iron red-hot" (Finance, May 11) was marred by the inaccurate assertion that "most S&Ls are either dying or limping badly." In fact, the health of savings institutions is improving. As a group, savings institutions earned $2 billion in 1991, a dramatic turnaround from a $2.9 billion loss the year before. Eighty-six percent of the institutions were profitable. Although there remain unnecessary barriers to the attraction of capital, savings institutions added $10 billion to their capital position in the last three years. Total capital is well above the government minimum. Not all of the industry's problems have been resolved, but a core of sound, healthy savings institutions has emerged from the turmoil of the 1980s. They are here to stay.
Frederick L. Webber
U.S. League of Savings Institutions