European Stars and Stripes (Newspaper) - July 25, 1990, Darmstadt, Hesse                                Page 10 a the stars and stripes wednesday july 25,1990 column George f. Will voters need to look for responsible lawmakers next time lets rely on either Chili Palmer or Jim Leach. Next time we sink into something like the savings and loan mess lets Send for Chili the Miami loan shark in Elmore Leonard a new crime novel a get  seems Chili can get Welsher to Fork Over by just saying three words Quot look at  or we could avoids amp a messes by listening to the likes of rep. Jim Leach a Iowa who repeatedly said listen to me. On May 5, 1987, the House of representatives was Busy representing doing the business of an interest group Well represented meaning skilfully lobbied for in Washington. At Issue was the Leach amendment to legislation pertaining to the already fetid a amp a Industry. His amendment would have limited investments by federally insureds amp is to 100 percent of their capital or 3 percent of assets whichever was lower. Those limits could be waived in any state where the legislature put the states own resources behind a amp is that breached those limits. Leach thought there should be stricter limits on Public liability for Money put out in the Pursuit of private profit. And he thought that states that wanted to License High rolling should shoulder the risk. This common sense a coming after Many warnings not the least of it from Leach a lost 391-17. Leach guesses that passage of his amendment would have prevented 10 percent of the losses so far in the a amp a debacle. So far the Cost of the crisis counting 30 years of interest on the borrowing for it will be $500 billion. Thus on May 5, 1987, Congress made a $50 billion Blunder. After that the great game of gambling with taxpayer insured Money rolled along in High gear. It was not Buccaneer capitalism by rugged individualists. It was the welfare capitalism of the Well represented speculators. It was yet another instance of no fault entrepreneurship wherein profits Are who will rat for Potz -tv4& a amp a bailout f private and losses Are socialized. The result is a perverse Reward system foolish states have prospered in proportion to their foolishness. States steeped in the ideology of go go capitalism a states such As California and especially Texas where regulation of state chartered but federally insureds amp is was relaxed a had fun. Money flooded in. Houses and buildings were built that were not built in Pennsylvania or Iowa. Then came the wringing out. Now taxpayers Are being Wing out. The result is a fresh flood of their Money to places like Texas and California a where by the Way the residue of the a amp a mess is a lot of real buildings that Are a substantial contribution to the local infrastructure. Back in Washington there is an obnoxious complacency about the lugubrious conclusion that a everybody Quot is to blame. How convenient. Such a lot of protective coloration. Misery loves company but guilt loves it even More. _ if it is everybody a fault it is no ones in particular. From that conclusion it is a Short slither to blaming the  and from there it is but a hop skip and a jump into sociology. The zeitgeist did it you know the 1980s, Glitz bows and rolex watches Bury my heart in the Hampton a yuppies. In a word the culprit was greed which May technically be traceable to Adams fall but really got ripping Only after Reagan s inauguration. There is nothing like a Fine Mist of sociology for obscuring responsibility. The a amp a argument has become an exercise in what Washington does Best or at least with most zest recrimination. And it illustrates a Law of Public discourse the More the subject is Complex and embarrassing the More intense the recourse to sociology. But the real a amp a subject As Robert Kuttner rightly stresses is politics a and particular policies such As deregulation produced by particular politicians. Writing in business week Kuttner Christopher Connell Bush feels says a republicans at least embraced deregulation out of ideological principle. Democrats did it mainly because they were on the  Leach however is different. He is a a a moderate Republican. A student of ancient history he Calls himself a a Wendell Willkie  he is not Given to the reflexive anti government non thinking that produced the Stampede to deregulation that produced the debacle. And he is not on the take. He takes no Pac contributions and received Only a pittance less than 45 other members of the 47-member banking committee from a amp a sources. Should we seize the a amp a mess As a pretext for changing the Campaign finance rules for which watergate was the pretext ? no voters should just look around for More candidates like Leach who on May 5, 1987, said listen to me. C Washington Post writer group Rita Putni Uusma s abandoning his no new is pledge May have triggered a firestorm in the ital but it has not set off alarms elsewhere judging m the reception Bush got on a four state Western president Bush a abandoning his no new taxes Miu Hiva a a a r. A i capita from the reception Bush got swing. As Bush headed off to California last week House republicans were voting in Masse to declare their opposition to tax increases in any form including tinkering with the maximum tax rates on upper income earners. That was just the latest display of unhappiness in the ranks of gop lawmakers about Bush a confession last month that solving the deficit problem would require tax Revenue  coming from the Man who made a read my lips no new taxes a the mantra of his landslide 1988 Campaign the reversal May have caused some erosion in Bush i v approval ratings have dipped lofty 80 percent to 63 percent in a recent Gal popularity from a Lof hip poll. Srbu 15 crowds that lined the streets outside the Nixon Library m Yorba Linda calif., and later last week in Boise Idaho and Billings mont., were waving flags and Welcome or. President signs not tax rebellion banners. He also got a rousing Western Welcome in the rain a Quot Cheyenne wyo., where cheering crowds turned out Tor a White House Parade grafted onto the City a Frontier Days Celebration. Bush himself broached the tax Issue if gingerly at a fund raising dinner for Republican Senate candidate Larry Craig in Boise. �?~7�?T\�, firestorm about revenues being on the table a he told the party faithful. A a Wei in be done my part and now it s their turn a he Gong ass to show its hands on spending in Billings he told another gop fund Raiser a a in be taken a few shots. You be heard it rebounding around out Here i be said before that ill negotiate without preconditions. And i will in spite of the outcry about revenues. 1 Bush on the flight Home told reporters a i did no to hear too much talk about tax increases but i sure got a lot of people mentioning to me in these Side meetings Down a a �m8 something about setting Federal deficit a maybe people understand my View on that i was very pleased with what i Felt was support from the people to whom i was speaking which in these instances were largely Republican audiences. Thev seemed to be supportive of what i was saying a the president said. Me Bush is building up to what aides say will be almost non Stop campaigning this fall for Republican Candi his pc Tauy nne Ces Bush a font jest dream is that the voters will give him what Ronald Reagan enjoyed for six years of his presidency control of the Senate where democrats now hold a 55-45 Edge. But Bush a Retreat on tax increases has taken a powerful Campaign weapon out of the hands of Republican hopefuls who were Only too Happy to join the old Bush in taking the no new taxes pledge. Reasonable about faxes there was a schizophrenic Quality to much of bus political foray. In one breath its i democrats As the parly on a the far sic Fern Rev a for government by gridlock a i skyrocketing deficit and pork barrel spending. A mfr sniff g0p loyalists in billin vfy1 Tarn m fairness to say we Are getting Soi the leadership on the Den in Side of the aisle in the budget negotiations.  Public took Bush a no new to Thev a a sa�1 a the first place or Pere of Hiopp learn t0 get t0� excited about the to of sun.v1 they see what Bush and the Lead n. 855. A actual a come up with. To them thit House officials say it came As no surer or r<4 esd a not generate much excite me a or resentment a on this trip. Chief of Tea Factor at aug wite House Dpi president ? new pm said As he stood by 1 ,?ols,a8e a a Side Heel old dam tha he Che re pet his leadership and Recagni in Trina a it 8 with very difficult responsibilities car2safd generate some governing in Washington budget of Recap lib a will Bush get if t Boole Mitt ears actuary hit people in the pock it butt iwi11 be some action a card Sai the process i Thiol St Sythe people Are not abused p Cess i think they 11 accept the  Chris soph a Connell Covert the Whit mouse for the Aat daled Presa