These now healthy thrifts will become failing thrifts.

That in turn forces healthy thrifts to raise their rates to remain competitive, effectively increasing the cost of borrowing for the entire industry.

Mr. Bush proposed that a new Federal agency carry the bail-out load, using added fees from healthy thrifts and $50 billion borrowed from investors.

Thus few analysts expected legislators to balk at a plan to borrow $15 billion for the insurance fund, using the earnings of the healthy thrifts as collateral.

It needs to borrow at least $15 billion from Wall Street, using the future earnings of healthy thrifts as collateral.

That's not reason enough to condemn the entire industry, but even the healthiest thrifts must share blame for fending off sane supervision that could have kept the problem from exploding.

"What we have said about the healthiest thrifts is that we believe they are in good shape and by and large they should be survivors," he said.

So the regulators asked Congress for the right to borrow $15 billion, using the future earnings of the healthy thrifts as collateral.

Obviously, getting rid of the bad apples like Mr. Wright's friend is costly and many healthy thrifts would be happy to avoid paying.

"The banks should gain a greater share of the consumer market and become more and more interested in buying healthy thrifts."