The Nation - News from May 19, 1985
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Maryland officials began setting up a new state-backed insurance fund for savings and loan associations, just hours after Gov. Harry Hughes signed seven bills to keep the privately insured thrift industry from financial collapse. The adoption of the legislation shortly after midnight Friday capped a hectic eight-day effort by state officials to halt a run on 102 privately insured thrifts. The action is designed to restore public confidence, Hughes said, and to force the thrifts into the federal insurance program.
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