WASHINGTON -- In the anxious days of early 1989, Robert Glauber and his colleagues at the Treasury were putting the final touches on a massive savings and loan salvage plan that President Bush would unveil Feb. 6. "We were very concerned that the announcement could trigger runs on savings and loans around the country," said Mr. Glauber, who then was Treasury under secretary for domestic finance.

"I went to sleep the night before absolutely terrified," he added. "When I'm scared, I get this kind of odd, metallic taste in. my mouth, and I can still remember that feeling."

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