White House Denies Move to Oust Gray
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A White House spokesman Tuesday denied news reports that presidential Chief of Staff Donald T. Regan is trying to oust Federal Home Loan Bank Board Chairman Edwin J. Gray.
“I’ve checked very carefully in the highest levels of the White House, and I can say unequivocally that no pressure is being put on (Gray) to resign,” the spokesman said. “I see no reason why Mr. Gray shouldn’t be able to serve out his term.”
Reports earlier this week indicated that Regan was behind a move to force Gray’s resignation. Sources in the savings and loan industry say they expect Gray--in the third year of his four-year term as bank board chairman--to resign shortly.
In an interview Tuesday, Gray said he “honestly did not know now” how long he was going to stay in the job.
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