Seidman Warns Panel: L. William Seidman, chairman...

Seidman Warns Panel: L. William Seidman, chairman of the Federal Deposit Insurance Corp. and of the Resolution Trust Corp., warned the House Banking Committee that President Bush’s $50-billion savings and loan bailout likely will fall short but assured members of Congress that the crunch probably wouldn’t come until after this year’s election. Panel members reacted with dismay at his assessment, the most pessimistic yet from a government official. He declined to be pinned down on a new estimate of S&L; losses, but figures in his testimony suggest that losses are in the range of $74 billion to $82 billion. A day earlier, Deputy Treasury Secretary John E. Robson had conceded only that it is possible that $50 billion is inadequate.