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Packer ccepts Position With Butler Enterprises , three-year varsity basketball star at • Wake Forest College, wasted no time in going to work - after receiving his college degree last week. --;, He immediately became an employe of Butler Enter- prises Inc., which serves hotels and motels from coast to coast with furniture and supplies. U. K. (Bill) Butler, president, said that his firm's fast gr o w t h appealed to Packer. "Billy decided to j o i n us after considering several other job offers," Butler said. Butler Enterprises serv• ices 16,000 accounts and its v o 1 um e of business has grown "to approvimately $2 million a year." Mail orders produce an average of $1,- 000 a day in business, Butler says, adding: "And we have salesmen in the field." The company mails 50,000 cata• logues the first of each year; it supplements that with five mailings during the year of 16-page catalogues. P a c k er will learn all phases of the business and then devote his primary at• tention to sales and promo• tion, according to Butler. Packer was ch o s en as "Most Valuable Player" in the 1959 Dixie Classic and was twice selected on the All-Atlantic Coast Conference team and the All-ACC tournament team. He was named to the conference honor roll, an honor reserved for con• ference athletes who maintain a B average for the year. Both Packer and his wife, the former Barbara Sucan• sky, are natives of Bethlehem, Pa. They were married last September. They will move next month into a house they have bought at 216 24th Street.

$13.95 FPT

Knight, John Wooden, Denny Crum, and , as well as other noted madmen, including Eddie Ein• HOOPS! horn, Bryant Gumbel, Kurt Gowdy, Billy Packer, outspoken CBS sports• and . caster and America's number-one au• thority on , lays it on HOOPS! is both funny and biting, sin• the line in this brash, colorful view of cere yet cynical. Refusing to mince the crazy world of college hoops. words or hold back opinions, the guru From the early days when players• of college basketball presents the in• including Billy-were accused of fix• side view of the wheeling and dealing, ing games to today's hilarious antics controversy, and hilarity that sur• of coaches and players behind the round one of America's favorite sports. scenes, Packer has always been one to tell it like it is. And that's precisely what he does in this outrageous book.

Al McGuire, the legendary coach• turned-broadcaster and Billy's long• time friend, is featured in all his ram• bunctious glory as Billy explains why Al wouldn't get off the airplane in Alaska, how he was able to pass him• self off as a minister, and why, upon first meeting him, Billy thought to himself, "What a wacko."

A self-professed basketball junkie, Billy recalls his early days of broad• Billy Packer, a former basketball casting when all the television equip• player and coach for Wake Forest, is ment would blow all the fuses in the seen weekly on CBS's NCAA basket• stadium, interviews were taped in the ball broadcast. His radio show can be men's room, and most announcers heard on more than 200 stations each were content to simply "wing it." week, and his syndicated newspaper Packer admits that all the fun and column appears in more than 100 pa• games don't take place only on the pers across the nation. basketball courts, as he divulges doz• ens of hilarious anecdotes-"the kind Roland Lazenby is a professional of tales you don't read about in the sports journalist and author. newspapers"-about McGuire, Bobby Cover photo by ALLAN LANDAU

CONTEMPORARY BOOKS, INC. CHICAGO (CONTINUED ON BACK FLAP) ISBN: 0-8092-5305-4

COLUMNS THIS WEEK EDITORIALS

SUNDAY, MARCH 8, 1987 WINSTON-SALEM JOURNAL PAGE Al3

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JOURNAL ILLUSTRATION BY JIM STANLEY BILLY PACKER Even During His Timeouts He's Cooking Up New Deals

By Ken Otterbourg why a forward is posting his man. down thing I do outside of broadcasting is JOURNAL STAFF REPORTER low by the basket. kind of like a hobby." HE WINTER of 1961. A time He used to work for NBC, where What he brings to these hobbies is when dunking was still done Dick Enberg played the straight man and the same clear-headed intensity and gutty more with donuts than with Packer and Al McGuire picked apart competitiveness he showed as a college basketballs. basketball and each other on Saturday af• point guard. (Incidentally, Packer's listed Billy Packer bet his college ternoons. height fluctuated in college from 5-9 to baTsketball teammates that he could swim Packer knows basketball, especially 5-11, because Wake Forest wanted him el• the college game. He across a slush-covered ,,. igible one year for the "Little All Amer• pool adjacent to the was an assistant coach ica Team.") Eden Roe Motel be• at Wake Forest for five Packer's dad was the basketball tween Durham and RESUME years. He has lots of coach at in Bethlehem, Chapel Hill. He warmed opinions, and delivers and Packer grew up as a gym rat. But himself in a hot shower, FULL NAME: them with the dead• he stopped playing sports when he gradu• ran into the poolyard, Anthony William Packer. panned emotion of a ated from Wake Forest in 1962. two-hand set shot. dived in, jumped out AGE: 46. "It's like a spigot was turned off," he and collected his mon• "I want that fan at said. "But when it comes down to a busi• ey. He took his pre• JOB/PROFESSION: home sitting there, ness deal, be it big, small or indifferent, game nap 50 richer. CBS sports announcer; in• thinking about other I get the same feelings as when I was try• That was 26 years ve tor. ways to play the game," ing to participate as an athlete." ago, when Packer was said Packer. "And it's BIRTHPLACE: "He's always known how to make a leading the Demon not that I have the an• Wellsville, N.Y. dollar," Barbara Packer said. Deacons of Wake For• swers, but that I want to And how not to spend one, too, for est. EDUCATION: impart on fans the al• Packer is a frugal person. Friends at Wake But he's still hustling Bethlehem, Pa .. High ternatives of doing Forest recall he could stretch his $15 - for the money and School; B.A. in business, something." monthly laundry stipend farther than any• the sheer fun of making Wake Forest College. Basketball junkies in one else and that he refused to get new a deal. the Atlantic Coast Con• basketball sneakers until his old ones were "He's always had the FAMILY: ference, where Packer Wife, three children. fully worn out. opinion that he could began his broadcasting Packer himself is modest when de• sell you an empty buck• LAST BOOK READ;, career, blister him with scribing his business deals. He dislikes et of air," said one long• What They Don't Teach insults. It's not uncom• discussing his successes and the fail• time friend. You at Harvard Business mon for Carolina fans ures. He's not sure when he learned how Packer's quirky busi- School to say that if their team to hustle, and he considers himself 0rt" ""B ernp i lr1ilPso i"! p]Bying on television "'O e of an opportun ist than hustler. .l< A (> 'l: NlV V 1is: broadcasting, television and Packer is announc• His close t'rlends embellish Packer's and radio production, Spartacus; The Day of the ing, they'll turn off the Jackal. JOURNAL PHOTO BY COOKIE SNYDER dealings more than he does, but they often real estate, restaurants, sound and listen to lack a full and detailed picture of his di• product licensing and FAVORITE FOOD: call the Time Out Inc., a business that manages company called Pac Mac Inc. that pro• verse interests. art collecting. Stuffed cabbage and home· game on the radio. Packer's broadcasting and sports promo• duced their radio show while they were Ballard G. "Buddy" Norwood attend• Projects in the works made applesauce. That's OK. His fam• tion businesses from their comfortable a television team. It consisted of a fast• ed Wake Forest with Packer, and teamed include summer camps ily often does the same up with him on several real estate deals HOBBIES: home at Bermuda Run near Advance. paced bunch of commentaries the two and a syndicated news• thing. "I'm not good at managing people," taped in airport restrooms, taxi cabs and in and around Winston-Salem. Norwood, paper column. Business deals and lawn Mark Packer, the Packer, R. Edwin Shelton and Charles work. said Packer. "I have a hard enough time hotel rooms across the country. His mind is a hopper oldest of his three chil• keeping up with myself. Barb quits When Packer is home, the telephone M. Shelton formed a company called of projects and schemes, dren, said, "I'd rather about every two weeks, and then I have to rings and rings. Commercial Realty Investors that de• say friends and asso- listen to Woody than coax her back." His business associates, whom he al• veloped a dormitory for athletes at Wake ciates. Ideas fly out one after another in Billy anyhow. We hear him all week." From November to March, Packer is ways calls a "group of fellas," want his ad• Forest, along with two restaurants in a hit-or-miss fashion. Mark, 24, is the general manager of on the road, or more properly, in the air. vice, his input. downtown Winston-Salem. Packer lets his partners attend to the Clemson Broadcast Group, a radio-and• A typical 10-day stretch has him going Friends who aren't involved with him CRI, working through a subsidiary details. television production company in Clem• from Charlottesville, Va., to New York, in business say they're just waiting their called Food Performances, had planned on He is impatient with red tape. son, S.C. His father is an investor in the back to Advance, up to Syracuse, N.Y., turn, confident that one of his brain• opening only Encore, the first restau- "Probably my biggest failing is to company, which airs basketball and back to Advance, back to New York, and storms will produce an idea that he'll give rant in the renovated Stevens Center on think of too many things to do and not football games of Clemson University. then to Indianapolis. them to run with. Fourth Street. But a problem cropped button up the ones that I'm involved Billy Packer's daughter, Liz, 22, Packer said that Al McGuire sold "I think I'm a good partner but a up when another restaurant was planned in," said Packer. works as a travel agent in Winston-Salem, him on "frequent flier" programs. "I got lousy manager," said Packer. for the Sawtooth Center on Marshall Billy Packer is best known as a col• and his younger son, Brandt, 13, "keeps him (McGuire) into his pension plan His broadcasting schedule is fixed. Street. lege basketball announcer, the color man Billy and Barb in line," said Mark Packer. and saved him hundreds of thousands, He can't postpone a college match-up just "Billy realized that Winston-Salem on CBS Sports whose job is to take Barb is Barbara, Packer's wife and and he put me on a couple of free flights. because a real estate closing is supposed couldn't support two restaurants down• fans beyond the obvious and let them hometown sweetheart from Bethlehem, That's probably a fair trade-off." to take place that afternoon. town, but he said, 'If I can get both of know why a fast break is faltering or Pa. They are the only employees of Packer and McGuire owned a sideline "I can't serve two masters, so every- See PACKER, Page Al6

Iii i; I 49 4 411 ~I$ \j If•'• National Reagan Gets • Jonathan Jay Pollard, the former civilian intelligence analyst for the U.S. Navy, was sentenced to life in prison Out of a Hole for selling Israel hundreds of secret U.S. military documents in what prosecutors JOURNAL STAFF AND WIRE REPORT called one of the worst spy cases in the history of the United States. Pollard's HE TOWER commission report on the Iran-Contra affair had not wife, Anne Henderson-Pollard, was sen• tenced to five years in prison. Tdealt with him kindly, and the stakes were high as President Reagan spoke to the nation from the Oval Of• • The news was not good on the fice. economic front. Orders to American fac• His approval rating had dwindled to tories suffered their steepest one-month its lowest point in four years, and two• decline in almost seven years, and the thirds of those questioned by a New government's main forecasting gauge of York Times-CBS News poll said that oth• future economic activity, the Index of Leading Indicators, took its biggest ers, not the president, were in charge. drop in 30 months. But Reagan, in his speech, accepted full responsibility for a policy that had "deteriorated," as he put it, into an • The Supreme Court, in a ruling expected to help victims of AIDS fight arms-for-hostages deal. The next day, a discrimination, ruled that businesses CBS News poll showed an increase of nine points in his approval rating. and government entities receiving federal aid are barred from discriminating - But the speech was clearly no magic in employment or otherwise - against cure-all for the ills of the White House. A people with contagious diseases. majority of those surveyed still insisted that Reagan will remain a "handicapped president," that he had not told all he • Comedian Danny Kaye, who en• knew and that he should have apologized. thralled adults and youngsters alike with JOURNAL PHOTO BY DAVID ROLFE tongue-twisting patter in such movies On another front, Reagan won high PICTURE OF THE WEEK: melting, and flooding was widespread Rockford Road bridge over the Yadkin as Hans Christian Andersen and The praise for his appointment of Howard H. The rains came while the snow was still across the Northwest Piedmont. The River was under 6 feet of water. Court Jester and then became an advo• Baker Jr. as the White House chief of cate for the world's children, died at the staff and William H. Webster as the direc• age of 74 .... Randolph Scott, the lead• tor of central intelligence. A major un• scription drugs for 17 years. She said ty social service departments that are run• Securities and Exchange Commission that ing man in dozens of westerns, war mov• answered question is whether Reagan will ies and comedies, died at 89. listen to his new adviser or to the more that she has been receiving treatment at a ning out of money because of cuts. it is considering a transfer of a large rigid and conservative promptings of his drug center in California. part of its tobacco business to a master old friends and his own instincts. Re• • Four days before he was scheduled limited partnership - the first official International publican leaders in Congress clearly want • The General Assembly enacted a to go on trial, Terry Lee Smith, who po• action toward a possible spinoff that has the president to heed Baker and join in $29.6 million emergency appropriations lice say ran one of the largest known been discussed for several weeks. Earli- • Arms control talks between the the business of compromise. bill to build new prisons, including five drug rings in Forsyth County, pleaded er, the company said that about 180 peo• United States and the Soviet Union en• new units in Forsyth, Davidson and Guil• guilty to three federal drug charges. In ple on its corporate staff and 100 work• tered a new phase with a Soviet propos- State/Local ford counties. The construction is in• exchange for his plea, prosecutors will ers at R.JR Archer will lose their jobs as • al for a separate agreement on medium• tended to eliminate the triple-bunking of drop 18 other charges, and prosecutors part of the company's decentralization range missiles and a prompt and posi- • Tammy Bakker, the wife of Jim inmates that has prompted lawsuits by will recommend that he be sentenced to program. Meanwhile, the company's annu• tive response from the Reagan administra• Bakker, the television evangelist and pres• inmates and to prevent a federal takeover no more than 20 years in prison. He al report said that J. Tylee Wilson will tion, which brought out a draft treaty. ident of the PTL Club, acknowledged in of the prison system. The legislature also could be fined $2.5 million. step down as the chairman of R.JR Na• Both sides said that their proposals are a videotape shown to a studio audience also rushed through a bill to make an ad• bisco April 16 instead of staying until based on tentative agreements reached that she had been dependent on pre- ditional $2.25 million available to coun- • R.JR Nabisco Inc. has notified the the first of next year. at the summit in October in Iceland. PAGE A16 WINSTON-SALEM JOURNAL Sunday, March 8, 1987

about talking to crowds and giving out opin• "Thesearchfordreamgamesismorecom-. ions. Packer, McKinney said, borrowed some petitive," Packer said. "Where it helps us is Despite PessirnistI•CRe port, ' PACKER of the coach's style for his public-speaking class, where a professor once told him, 'Billy, Continued From Page A13 you can't use Bones' manners.'" :~=d0N'Bd:e~=~~=:~!0:ale~~~ Many See Stronger Econollly Packer made the big time in 1975, when Packer pays the networks back, if only a them maybe I can make them work,' " Nor• NBC hired him for the regional playoffs of little. Brokum, a company of his affiliated ASSOCIATED PRESS wood said. · the collegiate basketball championship. He The present expansion began in November with Time Out Inc., sells hats and other WASHINGTON - Economists are voic• Food Performances opened up Park Place stayed with NBC until 1982 and moved to apparel sporting the logos of the networks, 1982. Now in its 52nd month, it already in the Sawtooth Center, but then bailed out, CBS the year that network wrested from ing newfound optimism about the U.S. econ• exceeds five of the seven recoveries since such as the CBS eye. He got that idea after omy and suggesting that the present expan• selling its majority interests in both restau• NBC the rights to broadcast the NCAA watching spectators plead with television World War II. If it lasts until this fall, it will rants to James "Slug" Claiborne, a restau• championships. Packer said CBS paid $46 sion will see a fifth, and possibly sixth, anni• top the 58-month expansion of 1975-1980. crews to part with their official hats and versary. rant owner in Charlotte, whom Packer sidled million for three years of broadcasts in 1981. shirts. However, it still has a way to go to match up to during a golf tournament. Its winning bid for the three years of playoffs But their projections are the record 106-month expan• Traveling around the country gives Packer based on three assumptions: sion of the 1960s, during the Norwood said that he and Packer rarely, if beginning next year is $166 million. a chance to pursue his real estate and art ever, discuss basketball and broadcasting, be• the trade deficit will head Vietnam War. Packer meant to stay at NBC, but he collecting. He's involved in about 12 limited down, inflation will go up and cause "it's just not part of our relationship." wanted more from the network than being Analysts cited Friday's un• partnerships throughout the United States interest rates will remain rela• employment report by the La• Packer admits that his friends and his deals just a broadcaster, a guy wearing a blazer and and has been a part-owner of a radio station are often compartmentalized and unrelated. tively restrained. bor Department, showing that a headset. He wanted to be in on the deals, in Atlantic City, N.J. Despite a congressional re• A peek inside Packer's basketball mini• part of the scheduling and juggling that goes 370,000 jobs were created in Norwood said that Packer's name gets him port that the state of the econo• February and that the unem• empire shows the money side of college into setting up a season of basketball. into deals. "They want to talk basketball sports and how he uses his experience in my is precarious, most private ployment rate held at a seven• NBC balked at giving him more freedom. with him and he wants to talk real estate and and government analysts do sports. CBS, which had only a fledgling college bas• year-low of 6.7 percent, as the products with them," Norwood said. not see a recession in the short latest evidence of an improving It also illustrates how far he has traveled ketball operation, needed his skills and was Settled around Packer's living room are since his first ACC broadcast for C.D. Ches• term. However, some say the economy. willing to pay for them. In late 1985, Sports sculptures and lithographs. He's collecting next one could coincide with ley in 1972. Before that, he had done some Illustrated estimated Packer's annual net• "This really is an incredible ceramics by Picasso and sculptures by Erte, a the 1988 presidential election. job-creating pace," said Allen radio broadcasts for WAIR in Winston-Sa• work salary at $350,000. French artist and designer enjoying a renais• lem, where he worked as a sales manager. A Joint House-Senate Eco• Sinai, the chief economist for After the season ends, Packer and CBS sance in popularity. nomic Committee report, writ• There are many versions about how Ches• start figuring out who will be next year's Shearson Lehman Bros. Most Collecting art is a challenge for Packer. His ten by the panel's Democratic of the new jobs have been in the ley hooked up with Packer. Some say it was college powerhouses, and begin penciling in friends say he enjoys pricing pieces and the just luck. Others credit Packer with wedging majority, concluded last week services sector, which reflects games that the network thinks will appeal to satisfaction that he's a former jock with little that the economy "is vulnera• his foot in the door. a wide variety of viewers. With his connec• continued weakness in manu• formal art education making profitable deals ble to abrupt dislocation." ''The current facturing. Bones McKinney, Packer's coach at Wake tions to basketball coaches, who are them• with the galleries. Forest and a long-time friend, tells it this "The current recovery, while recovery, The Reagan administration selves an increasingly business-savvy bunch, "I don't buy anything I don't like," he said, long, is fragile, and we are skat• way: Packer is well-respected for his knack of has projected that the economy "but it's got to have a value and a potential ing on thin ice," said Sen. Paul while long, is frag• will expand by 3.2 percent this "I was working for the Carolina Cougars of putting two competitive teams on the same for a deal.'' · Sarbanes, D-Md, the chairman the American Basketball Association, a pro hardwood floor. ile, and we are year, as measured by real Packer bought some of Erte's works just of the committee. growth of the Gross National team - not coaching. C.D. Chesley called "He's the only reason CBS is the success skating on thin before prices for his art soared. Small pieces However, Republicans on Product. That compares with a and said he was going to change announcers they've been," McGuire said. "His schedul• like those owned by Packer have increased in the panel issued a more upbeat ice.'' sluggish pace of 2.5 percent for and wanted me. I told him I'd check with the ing knowledge is just incredible." value by $20,000 in just several years. assessment. And a variety of all of 1986. ABA, and he should clear it with the ACC. What makes the job tricky, Packer said, is A lot of art dealers are "bull throwers," analysts in the past few days - Paul Sarbanes, Most private economists are The ACC said no way, so Chesley called Billy that a college team's season can hinge on one Packer said. "They come in and say this has have said that the economy is D-Md. now suggesting that the admin• Packer." player, who might be felled by injury or aca• got flowing lines on it, but that's not the way showing renewed, even unex- istration's projections, for "But he would have surfaced anyhow," demic ineligibility. The result is that a com• I do it. What I say is, 'I know the piece. I'd pected, signs of vigor. McKinney said. once, are not too optimistic. petitive matchup selected in the spring can like to look at it. What are you selling it for?' "Growth will be stronger than we thought Packer said that when he attended Wake "The economy is in better shape now than become a rout by the following winter, leav• And the guy will pull off some outrageous a little while ago," said David Wyss, the chief Forest, "Bones and Billy Graham were the it was a year or two ago,'' said Robert Ortner, ing advertisers furious. number and I'll tell him what I'll buy it from financial economist for Data Resources Inc. two best preachers in the state." the undersecretary of Commerce for econom• Further complicating matters is that NBC you for.'' And if the art dealer told him to go "Consumer spending is continuing to carry ic affairs. But he said the administration's Packer would drive McKinney on his and ABC also prowl for good matchups for jump in a lake, Packer just might make a few the economy. We see another four to six peaking engagements and pick up some tips forecast is contingent on significant reduc• their weekend basketball coverage. side bets on whether he could swim across. quarters of steady growth." tions in both the trade and budget deficits. Afghan War An 0 bstacle, Reagan Says ASSOCIATED PRESS WASHINGTON - President Reagan warned yesterday that de• spite recent progress in arms control talks, tensions will remain in U.S.• Soviet relations as long as the Sovi• ets make only "cosmetic changes" in their occupation of Afghanistan . . Reagan, speaking days before Con• gress is scheduled to vote on his re• quest for $40 million in aid for the rebels in Nicaragua, also made a plea for approval of the money, saying that it is needed to counter the "vast Soviet and Cuban help" going to the Marxist-led Sandinista government. "To abandon them would betray our own principles," Reagan said of the rebel . "We must continue to stand by the e brave men and wom• en." Rep. David Bonior, D-Mich., in giving the Democratic response, said that opponents of the administra• tion's Nicaraguan policy want "a moratorium on the release of any funds to the Contras until we have a full di closure of where the previous funds have gone." "Thi is the 1 a t the American people have a right to expect from any policy - a clear accounting of their tax dollars," said Bonior, refer• ring to confusion about how the reb• el have pent previous U.S. aid. TALKS SET Rcag n'- comments came one day af r h order d Secretary of State George Shultz to Moscow next month to "maintain the momen• tum" of recent advances toward a new U.S.·Soviet arma control pact that would rid Europ of medium· rang nuclear missiles. hultz la to meet Eduard Shevard• nadze, the Soviet foreign minister, in mid-April to discu a wid range of i s, including chance for a third u rpower summit. R agan, calling U.S.·Soviet rela• U.one "one of the keys to world p ce," recalled that he had told Mikhail Gorbachev, the Soviet lead· er, that good ties depend on four things - arms reductions, prolJI'esa on human righta and regional con· flicts and improved contacts between peoples. "We've seen movement in some of these areas. In one area, however, we're particularly disappointed," Reagan said, noting the continuing occupation of Afghanistan. He also referred to Soviet support for nations such a Libya and weap• ons shipments to the Palestine Lib• eration Organization. WORLD PEACE Despite the Soviets' contention that they are seeking a political reso• lution to the Afghan problem, Rea• gan charged that the Soviets had "made no more than cosmetic .changes in their puppet regime" in Kabul. "As long as Soviets keep this up, East-West tension will continue, and that's why it's in the interests of world peace to convince the Soviets to stop it," Reagan said. The Soviets invaded Afghanistan in 1979. Although the United States does not publicly acknowledge it, it The idea of a bank encouraging you So Senior Privilege gives you a you'll naturallyenjoyafu ll complement has reportedly sent $630 million in to take your money out and enjoy it covert aid to support the rebels fight• unique discount buying service.Where of preferred financial services too nu• ng to pverthrow the Soviet client might seem a bit out of the ordinary. a simple toll-free call can produce imme• merous to mention here. ime in Kabul. But then, Senior Reagan formally requested on diate savings on things like televisions, For all the details, simply stop by any CT'hursday that Congress release $40 Privilege is not stereos, and major appliancesof all kinds. Southern National office. million in previously approved mili• your ordinary Plus a money-saving travel service tary aid for the Nicaraguan rebels. And find out just how privilegedyou The House plans to vote this week, bank account. that not only allows you to shop the best may indeed be. nd the Senate has not yet scheduled It's partofSouthernNational's Select. discount fares, but then compounds vote, on a resolution blocking re- ease of the money. And unlike your typical senior's account, your savings with cash bonuses of 10% However, the vote will be largely it's been designed with the recognition on hotels, and 3% on airfare and car SOUTHERN NATl,--- symbolic because although Demo- rats in both houses believe they that, by now, you've earned every right rentals. ~re~ banking betterwitholit have the votes for the resolution, to indulgeyourselfwh eneveryoupl ease. And, since we are a bank, after all, making it more complicated. Reagan has already vowed to veto it. Member FDIC Accounts insured to $100,000. The Democratic leadership has con• ceded that it does not, have the votes to override a veto.