European Stars And Stripes (Newspaper) - May 19, 1988, Darmstadt, Hesse                                The stars and stripes thursday May is 1988 Congress takes Issue with report White House cafes Market crash study excellent wrong Washington a the while House tuesday defended an administration report on the Slock Market crash after in Drew a Cool reaction on Capitol Hill. Presidential spokesman Martin Filzen scr called the document an excellent report nod said president Reagan fed its recommendations arc sound. We feel the report represents the actions that should be  Fili water said. However the reaction in Congress ensured that Law matters will continue work on Bills aimed at altering the Exchange s operations. I m very disappointed with the report. I think it s flatly Ong Senate banking committee chairman William Imire. A wis. Said monday shortly Afler the Reagan administration s working group issued its recommendations Corpac venting future Market plunges. The group headed by Treasury Secretary Lames a Baker Iii. Said thai � circuit breaker should be put in place that would Hall trading on All Stock futures adoptions markets Tor an hour should the Dow Jones Industrial average fall by 250 Points a second two hour close should occur if the Dow drops by 400 Points. The group said. The Market has dropped More than 250 Points Only once in its history the sos Point plunge of but oct. 1 9. It has swung Ever since. The group created in March also recommended improvements in the ways traders transactions Are completed and in coordination among Federal Agenda that oversee the markets. In addition they said the group should continue functioning to help Deal wit problem As hey arise. Bui the group which also consisted of Federal re serve Bora chairman Alan Greenspan. Securities and Exchange commission chairman David s. Ruder and commodity and futures trading commission chairwoman Wendy Gramm failed to suggest other moves that have found support on Capitol Hill and elsewhere. They concluded that the margins or Dow pay ments for Slock Stock Index futures and options Are adequate. They failed to agree on whether Sleeper mar gins should be required in an Effort to Dampen speculation a move Ruder supported but the other three opposed. Margin for futures trading Art much lower than for Slock transactions. They also ignored a recommendation issued in Jan uary by a presidential task Force headed by investment banker Nicholas f. Brady that a single Agency preferably the fed should oversee Mac Markei issues. Currently the a Etc oversees the futures markets while the Sec and the fed regulate the options and Slock exchanges. The group also urged no actions that would limit tie use of program trading the computer driven trans actions that critics have blamed for volatility on the Stock and futures markets. It is unrealistic Andi Perhab counterproductive to try to undo the changes in financial markets or Market Strate Gies brought about by improvements in telecommunications and computer technology the report said. Legislation May or May not take place Treasury undersecretary George d. Gould who Tat in for baiter at most of the group s meetings said at a news Confer ence. But the tact is there were some thing we could agree on and put in place which we fell Are important to the integrity of the markets and important to investor  Proxmire who has introduced legislation thai would set up a panel consisting of officials of the fed Sec and a Etc to coordinate Market regulation criticized the  shows a Lack of sensitivity to whal s keeping the individual investor Oul of the Market the volatility he said asked if he would continue to seek passage of his Bill he said "absolutely."rep. Edward Markey d-mass., chairman of the House  and finance subcommittee faulted the group for in failure to recommend that on Agency oversee the markets and for not urging a change in margin  it s Congress my to take the Ball and put Forward meaningful Market reforms said Strkey who is drafting his own . John Dingell chairman of the House Energy and Commerce committee of which markets panel u a part said the group had made Tome useful recon  ,. Senate agriculture committee chairman Patrick Leahy Dou whose panel oversees the a Etc and the futures exchanges called the recommendations  he said a Federal role in setting margins need to be studied. News updates execution urged re Ark. A a Man conv hied of two Murdart and accused otj4 others should be executed junx27, a judge Aid  Day alter a airing it Gene Simmons win twp waive his right to Appeal he Clearw tence. Sim pits 47, we convicted last week or two deaths in a dec. 28shooting rampage in Kussy Loiue. He bib stand trial july 18 for the deaths of 14 members of his family. Building collapse Meh co City a Pix defective coat auction pm Rubly caused last  a new five Story Factor taming that left a least 14 dead 3w57 injured a police spokesman said monday. It is Alp test certain that the defective construction was the cause of tha collapse but it is not yet officially confirmed said her nor Foo Martinez in a Telephone interview. Hundreds evacuated los Angeles a hundreds of people evacuated the state s tallest building twice  Day after a smoking air compressor and a Small fire in a sub basement sparked fears of a repeat of this month s deadly Blaze. A Small fire that ignited in abasement Section of the 62-Story first interstate Bank Tower was extinguished by the Lime firefighters arrived late monday afternoon and no damage or injuries were reported. Assistant fire chief David Sloan said. Firefighters were called Back to the building a third time late in the afternoon because of a report of smoke. That turned Oul to be a false alarm said fire department spokesman Jim Williamson. Sloan said the three incidents were coincidence. A May 4 tire gutted four floors of the downtown Bank Tower killed a janitor who became trapped in a fiery elevator and injured 40 others several of them firefighters overcome by smoke. Arne Cook sentenced to 40 years in plot to blow up feud by Soldier by de staff Schweinfurt a Germany an army Cook accused v plotting to blow up another Soldier a i. Sentenced in a court martial tuesday lop years in prison. Pic. Scot a. Rosenzwcig of Liq co 2nd in 64th Armor 3rd inf Oft was found guilty of conspiracy to commit murder. He also was demoted to. One ordered to forfeit All pay and Givi dishonourable discharge. Rosenzweig s prison sentence will be limited 10 13 years if he keeps provisions of a pc trial agreement that includes his testimony at two upcoming trials in Ger Man court concerning the murder conspiracy. Rosenzweig was involved in the Al . Sulho relics arrested payer twid iced murder plot of an american Rosenzweig Jan. To. The same Day scr T  to. Nim a j 4. Pili a amur Lyrl Rill Ilott Hal to woman Billie Clifton. She still faces trial for enlisting the help of three a Cizio Plant and detonate a homemade Bodib in the car of her husband Sec. Thorn Clif Ion. Of Rostin Zweig said in or Partt testimony thai he was solicited for Lac murder by Billie Clifton on nov. I �87. According to testimony Rosenzweig american civilian Williim Larry Bryson and spec Daniel i Fivek were involved i the plot and Wen o receive 110.000. To authorities wide alerted when Pavek hunted an Safiny criminal inv stiga Tio come undercover agent for advice on building Al Tomb according to court Man police arrested Billie Clifton and  was convicted in a general court martial May 6 and was oven a five year prison sentence and a dish Ono Rable discharge. Bryson awaits trial in German court for allegedly obtaining plastic explosives for the plot. Rosenzweig told the court that he never intended to go through with the  Clifton the intended victim testified in Rosenzweig s trial and said he did not believe the plot was serious. Of like to talk and act big. We All do it he said. I Don t believe 11 was More than  honduran Diplomat held on Coke charge Miami a Honduras ambassador to Panama tried to smuggle More than 25 pounds of cocaine into the United states f by stashing it in clothing in his suitcase. Authorities said a . Magistrate on monday Ord a Rigoberto Regalado Lara Supon Hiir of Honduras armed forces commager in chief held without Bond on a Ferge of Possession of cocaine with Uii Erya distribute. Regalado 49, was a he arrived at Miami Inu. On Tan airlines flight according court records. An affidavit fid that during an examination of Kcal act s Luggage a is. Cus Toms inspector a wavered a while powdery substance Sec Rifai inside 10 packages surrounded by Cost a wrapped in Plas tic concealed inside pm big legs and other clothing in his suitcase Esu showed thai the substance contained 3bl85 pounds of cocaine the affidavit said. A narcotics agent who a Pohiton to icon Dilion that he not be identify in said co Caine smuggler sometimes use Oefele to Block detection by dogs. . Magistrate Peter Palermo scheduled a second hearing for thursday. Rega Lado was being held m the Federal metro Politan correctional Center. The honduran foreign ministry mean while announced monday night it sus Pended Regalado s diplomatic Tatu and thai us authorities were free to pm elite. If convicted Regalado would be liable for the corresponding Legal Sandim i Honduras and the United sues Aid Eugenio Castro. A spokesman for the honduran foreign ministry in Tegucigalpa. Seam re killed in Rota Cocash identified. _ % r in t Ruc. Lib Hbl in its injured three other  Gcorge Henry Ousley from Holts Summit mo., was a passenger in Acar that suf uck equipment being towed by a Spanish tractor on a Road adjacent10 Ibe naval base it. Donna Holtmeier. Base Public affairs officer said tuesday. Ousley 20, was pronounced dead of head injuries shortly after being admitted to the base Hospital Hoffmyier bar Jota. _ naval a _ were ire aled Al with injuries to h Istace Chesi and Abdo the Hospital for their injuries and re m Orel was sched used to be flown late Ousley was assigned to feet us pcs tuesday to the army regional medical support so 22 As Are Woody and Ortoll Center at Laid Simuhl West Germany for she said. .,., further treatment. He is survived by his father George the iwo sailors along with Petty offi Ousley jr., also of Holts Summit and Hiscar . Anthony John Woody were Pas Mother Rhonda Bise of Jefferson City sen Gorc in a car being driven by Petty to