The subcommittee heard testimony on proposals to restructure the Resolution Trust Corporation, a corporation created by Congress to collect and sell the assets of failed savings and loans. The subcommittee chairman, Rep. Annunzio, claimed the RTC was not selling off the assets quickly enough, having amassed $160 billion in assets. Mr. Seidman, chairman of the Federal Deposit Insurance Corporation, introduced a proposal to restructure the RTC by removing FDIC control of the agency, and reduce the power of the agency’s oversight board, replaced by a single chief executive. Deputy Treasury Secretary Robson testified the administration would tentatively agree to such a proposal, despite maintaining no changes should be made to the agency because such changes would create unpredictable results. The Bush administration previously requested $80 billion to continue the savings and loan bailout, as the funds for the bailout were predicted to run out by the end of 1991.