European Stars And Stripes (Newspaper) - March 31, 1989, Darmstadt, Hesse Friday. March 3 1,1 989 the stars and billionaire urges . To Bury racial t age 3 lib Cox a was Washington borrowing from a lali1 a fios tune Dallas billionaire h. Row Perot urged a salvation army Audi in of in tuesday to love one anti her and end racial tensions. We be got to m in this pull he and lugging among inc . We Don t Hiitt. Lime for it we re losing the. Industrial War " a Roi who the salvation army s Wellington metropolitan annual meeting., said ending race icons Corr is a top Priori by racial tension is obsolete and irrelevant in our a Miry and we have got to gel rid of u Rine a or the other or it going in drag us deeper and deeper Down i crot said. We be got to Stop this pulling i and tugging among the races. We Don t have time for Bross Perot americans have been arro ital and complacent and inc rest of the world has been pulling its Way out of the ashes of world War ii. And they arc really mov ing Forward while we be been moving in. Inc wrong d in action he added. I Itoi. A longtime advocate and Leader of education Reform called americans setting of priorities bizarre the Odds that you re going to prison in Texas Tiit go right through the roof if you re poor and Don t get an education 1 crot Silit. The sad part is we can put ayoung person through Harvard univer sity for less than ii costs to keep them in Huntsville prison in ten und in Salt Sass inn with High school students. Vienna a of funds from the so Industry. And we will con line 10 see withdrawal As Long As our plan is not a hacked into Law in Roma Iii before the Dallas chamber of commit Rte Brady said that for every Day. Of delay in funding the plan the Tost to the Tapa or will increase. At present , the plan it costing $20 million a so billion plan includes j40 billion already incurred by thrill regulators to resolve the problems of insolvent thrifts in the past the remaining s50 billion would he used to take care of current and future insolvencies and would be raised through Long term Bonds. The so savings and Princi pal and a substantial portion of the Bond and the rest would be paid by the govern mint. In other features of the , Industry. Would he asked to pay higher on deposits. The Federal Home loan Bank Board which regulates thrifts would become part of the Treasury department the Federal savings und loan insurance corp., which insures Thrift deposits would be merged with the Odic. Which insures Eom Percial Bank depos its the to empowered to take Over some 200 insolvent thrifts a process that k already under continued to voice Strong opposition to suggestions thai the solution to the Thrift crisis can be expedited by a one time Lump sum appropriation of the needed funds. The taxpayers did not create this problem there is no reason Why they should have to shoulder the full Burden by solving he , adding that such an appropriation would far exceed the Gramm Kud Man budget deficit in detion mrgret. Brady said the government is absolutely committed to the future of inc Sil Industry and the government plan will help ensure that the Thrift Indus try continues to be a prominent and robust Plaver in the financial system. Answering questions Brady do Decd to go into de tails of How the government proposes to set up the Resolution Trust company under its plan. He said the question would be answered Only after approval b Congress of the plan. The Etc would be the Agency issuing the $50 Bil lion notes and would be in charge of disposing4 he Asseli of the thrifts taken Over by the Odic. Texas Republican Steve bar Lelu a House committee member who appeared with Eli adv said he expects Congress to Complete its work on the in Rifle legis lation in april Aad it in president hush in Muy. Ilar Lelu however noted Ihrl Congress May intend the plan by extending the deadline from 1991 to 1993 during which the thrifts will be asked to meet the higher 6 percent capital Standard Hal i required of commercial Banks. Some legislators feel inc higher Standard will Forte some of the currently healthy thrifts out Oahu siness. I lady disagreed with Hartell on the Extension Issue. Saying that 50 percent of All the solvent thrifts already arc meeting that Standard. On other issues. Kratly said he has no dispute with Federal Reserve chm Man Greenspan on interest rates and the Central Bank s commitment to fight inflation. He has his Way of doing things and we in the Etc Ulic and Congress have our via Brady said adding Hal everyone is committed to holding inflation Down. Brady noted Hal higher interest rates would make it More difficult Losolis the in Rifle problem
