European Stars And Stripes (Newspaper) - April 11, 1985, Darmstadt, Hesse                                Page 10 the stars and stripes april 1985 columns comments Carl Rowan All is not Well in the american banking system we americans have believed for half a Century that we could never again fall victim to anything approaching the banking crisis of the great we thought that state and other guarantees were such that no president or governor would Ever again have reason to close Banks and savings and loan institutions to protect them from the panic of we thought we would never see angry housewives in the streets screaming that with their family savings no store will take their checks for groceries see aged peo ple agonize Over How to get social Security Money that is locked up in troubled Thrift we Are seeing this and a lot More sadness in Ohio where Home state savings Bank lost an estimated million in a very smelly relationship with govern ment a fort firm that closed March 4 under allegations of we now know that this can happen in other so we face a situation that tests our ideological allegiance to the ideas of of getting government off the backs of the nations of the government spurning bailouts and letting Banks and other institutions succeed or fail on the basis of their ability to compete and thrive in the you can bet your Bottom Dollar that the Hal million depositors in Ohio who had their Money tied up in 71 closed  were not clamouring for less gov or for deregulation measures that would mean less government supervision of the institutions where they leave their these ohioans Are asking How Home state could Gamble some million on a com Pany whose top officers were taking salaries of half a million dollars a bonuses totalling a million dollars in one and interest free Loans of they want to know Why Federal oversight of was so insignificant that an auditor from the nations 11th largest accounting firm could get away with declaring financially healthy when it in the securities and Exchange commission has much too late to help the Ohio that the accountant was paid by officers to file a phony economic Bill of Good we simply must face the reality that All is not Well in the american banking the Federal depos it insurance reported 79 failures in there already have been 18 failures this this compares with an average of Only 10 failures a year in the 197981 something has turned for the and i think it reflects an Assumption on the part of a lot of Bankers that nobody is really watching what kind of regulatory or monitoring system allows a Jake Butcher of to run a banking pm George will Pire into the ground and Force the Federal government to save depositors from disaster Butcher has been indicted four times on charges of misapplication of mail fraud and Bank robbery in connection with his operation of the United american Banks in Knoxville and and plus other the Odic says it stands to lose and the Federal Home loan Bank Board says it will lose about because of butchers How Marly and Jake butche Type operations can even the Federal government afford or consider the recent Case of the Bank of Boston being accused of failing to report to the government Large deposits that have been characterized As a laundering of drug officials of the Bank pleaded ignorance of the and Todd comptroller of the said that the examiners in the Boston Case were not trained to watch for violations of the Good i then what the Devil Are they trained for on i saw one enraged Ohio housewife scream they dont give a Damn about the Ordinary citizen she is right in that the anti bailout ideologues will let Little businesses and tiny Banks go but when it is Continental or some other institution whose failure would Shock the world financial ideology will give Way to a i say that Ohio proves that ideology must give Way to the existence of just enough Federal bureaucracy to suppress the greed and reintroduce fear the predators who Are stealing our banking system into the kind of catastrophe we have so Long thought we had c Universal press Syndicate thatchers Mission is to change British attitudes a Paradox of modern politics is that some of the most effective leaders Lead while looking Churchill was a 19thcentury de entrusted with authorship of the fifth re pub had his gaze fixed on the sweep of past when Ronald Reagan said America is he was saying that greatness is prime minister Margaret brings a retrospective cast of mind to an aggressive attempt to shape the in an interview at 10 Down ing Street if Britain can have a commercial future As Bright As its commercial Thatcher reacted in the vigorous manner characteristic of the very faithful when con fronted by uncomprehending her answer contained about 2 percent eco 2 percent sociology and 96 percent this was the question is not your prob Lem More complicated than the one Reagan saw for himself campaigning in the Fate he said americans Are instinctive bursting with entrepreneurial healthy people ready to remake the world if Only government would get out of their but the British Are not that her terse reply was they her expanded delivered with quiet Vehe Mence As she edged Forward in her was most of the major Industrial inventions were the steam Bru Neis the spinning Arkwright and so you name with her first she was gilding the Lilly a but gilding til lies in ways that stir Confidence is an act of she continued Britain has been More creative More recently than All the talk about the British disease would Britain created the Jet vertical Takeoff air but what happened to that vigor she says there has been especially in to adapt to Britain role after the universities were Brilliant at producing colonial but have never adapted to the need to train people for Trade and this reflects a Basic the prejudice that Trade and Industry Arent quite the thing As pro about that says we Are getting rid of one Way she tries to do that is by evoking memories of Britain proud achievements and by laying to what she sees As institutionalized recently Oxford proving that academic Folly knows no voted against giving Thatcher what it has Given other recent prime ministers an Honor Ary in a speech recently she noted that Many of Britain Best entrepreneurs came from modest didst speak with Oxford accents and haunt got what people Call the right what critics cant stomach is that wealth creators have a tendency to acquire wealth in the process of creating it for various Bishops of the established Church have been As modern Bish Ops everywhere Are wont to theology and and they have been criticizing so she some reverend and right reverend prelates have been heard in the i make no complaint about after it  be would without the voice of the occasional cuckoo the next morning the headline was Thatcher a few years ago some protesters were gathered at a half when Thatcher arrived to deliver a a television reporter asked her reaction to the at first she seemed then she said you mean Why should i care these people dont belong to my and i thank god they her political Success derives in no Small measure from a second Paradox democracy is government by but one Way to get consent from a majority is to be seen to care Little for it has made her a Success an unprecedented a constant complaint about democracy is that electoral cycles overrun the cycles of by the time a government formulates and begins implementing the pen Dular movement of opinion rearranges the governmental and the policies do not have Lime to be in 1979 Thatcher said she would need two full terms 10 years to change Britain which meant combating snobbery and making other attitudinal she May get More than 10 in May she will break Asquith 190816 record for the longest consecutive residence in in 1987 or she probably will become Britain Franklin the Only Leader since the Early emergence of democracy the 1832 Reform Bill to win three consecutive c 1985 Washinton Post writers group