Regarding the Opinion page article "1986 Tax Reform Act - The Culprit," Jan. 13: Much of the analysis on why Americans don't save more money misses a major point.
The S&L disgrace will cost the American taxpayers about $550 billion. That money, which was severely mismanaged and often stolen, was money people had put into savings.
Some analysts warn that we are in for more trouble in the banking industry and that the same kind of massive failure may take place in the insurance industry.
The industries involved and the government agencies responsible for regulation of those industries have not fulfilled their responsibilities. They have not inspired the confidence required for the people to entrust their money into the hands of private business. Jon Remmerde, Livermore, Colo.
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