In February 1989 a moratorium on such transactions was announced following the Bush Administration's proposal for a resolution of the thrift crisis. A thrift industry still exists in Texas, but its viability is uncertain. In addition, the ultimate cost to the government of the thrift transactions is uncertain, because the Federal Savings and Loan Insurance Corporation has provided a wide range of financial assistance in the form of notes and guarantees to attract acquirers to buy packages of thrifts. The costs could be more than the estimates if the assets involved have less value than indicated by unaudited financial reports or if interest rates increase. Related to these issues is the loose structure and inconsistent administration of the process used to solicit and select acquirers for the Texas thrifts under the Southwest Plan approved by the FHLBB in February 1988. Footnotes and appended tables.