European Stars and Stripes (Newspaper) - May 12, 1990, Darmstadt, Hesse Page 6 a a a the stars and stripes saturday May 12,1990 fed chief outlines Bank Reform plan Washington apr Federal Reserve chairman Alan Greenspan on thursday announced the Central Bank a ideas for reforming the nation s financial system including charging Banks with risky investments More for their Deposit insurance. In his first extensive Public remarks on Deposit insurance Reform Greenspan told a Federal Reserve Bank of Chicago conference that the Issue a should be High on our agendas As Congress and the administration consider permitting Banks to expand into securities and insurance. Among the specific reforms he outlined were Deposit insurance premi stateside urns that varied according to the risk of a Bank a investments More frequent examining of Banks books Swift seizure of weak Banks and a requirement that Bank owners risk More of their own Money. All Banks from Safe to shaky now pay the same Deposit insurance Premium. Current Law in most cases bars the takeover of Banks until they Are officially insolvent but by that time losses to the Deposit insurance fund arc sometimes Steep. Greenspan did not address such proposals As cutting Back on the $ 100,000-pcr-account insurance limiting insurance to one account imposing a a de ductile a on the insurance or finding a Way to allow Large Banks to fail without endangering the system. A the is proceeding gingerly. But in the chairman Are the seeds of a most Radical Reform of our existing financial system a said Kenneth a. Guenther executive vice president of the Independent Bankers association of America which represents smaller Banks wary of Deposit insurance changes. The Treasury department is due to release its banking Reform plan by next february. Greenspan is expected to be a major influence in its development and in congressional debate on the Issue next year. Alan Greenspan a file German Observatory to study cosmic a rays Cape canaveral Fla. Apr a German Observatory known As Rosa will be carried into orbit aboard a Delta rocket May 31 to study the heavens for sources of cosmic a rays. The $170 million satellite will perform the first full sky Survey of celestial bodies that Emit a rays said Volker Kaltenbach Rosa spacecraft manager for the German aerospace research establishment of West Germany. It will use the largest imaging a Ray Telescope Ever built. A Crosat is up to now the most ambitious project in the Young history of a Ray astronomy a Kaltenbach said. About 1,000 sources of cosmic a rays which do not penetrate the atmosphere and therefore Are invisible from the ground Are known to exist. Astronomers Hope Rosa will identify 100,000 sources said Alan Bunnjr Rosa program scientist for the . National aeronautics and space administration. It will observe stars Black holes and Supernova remnants hot Clouds produced by exploding stars at the end of their lives. Study says joint arms projects with other nations could Hurt . Washington apr the United states May be mortgaging its future defences by not limiting collaboration with Allied nations in High tech weapons development according to a congressional study released thursday. Such collaboration makes business sense for the companies involved but ultimately it could make the United states too dependent on foreign suppliers and erode parts of the . Defense Industrial base said the study by the office of technology assessment a nonpartisan analytical Agency of Congress. More joint weapons projects with european or japanese companies would mean less business for All but the largest american defense companies the study said. A the United states could end up with a defense Industrial Structure inadequate for the defense of the nation a it said. The study added on the other hand that erosion of . Defense industries May not be a Security risk because the United states May need less weapon making capacity As the cold War winds Down and East West arms cuts Are implemented. Even so the trend toward greater .-european col Farmers see Hopes vanish in flooding Pastoria Ark. Apr Hillary Pip mfg Ali if mar in it a has Heen farm in o All Hie i re a us Kin has been farming All his life but fishing is All his wheat Fields arc Good for at the moment. As Waters continue to surge Down the Arkansas red and Trinity Rivers in Texas and Arkansas agriculture is suffering the most. 1 m just hoping we can pay our debts and stay in farming a Pipkin said thursday a a cause there a not any profit to be made this Pipkin and his brother grow wheat Cotton soybeans and Rice on about 1,000 acres m the Community where they grew up a few Miles North of Pine Bluff in Central Arkansas their land handed Down by their father is divided by the Arkansas River levee. About 250 acres on the River Side of the levee arc under water. Quot you can walk Down there and catch a fish if you want to a said Pipkin pointing to a spot where water swallows the Road that used to Cut across his wheat Field. Pipkin said about half of his 100-acre Winter wheat crop is destroyed. Quot its going to Hurt the yield no doubt about that Quot he said. Quot id say after this we might Cut half a and his Cotton might not be planted at All. A a it a going to Hurt us bad a Pipkin said. Quot if we get in any Cotton its not going to have time to make enough like it officials Are estimating that 450,000 acres of wheat statewide have been damaged by the flooding losses could amount to $4.8 million. Rough estimates re Elds Wright Ark. Where he indicate 25,000 to 30,000 head of cattle were stranded by High water and Many Are presumed drowned. In a letter thursday to president Bush gov. Bill Clinton said initial offi Pink a f loud ice Ull of last week s severe storms which were blamed for 13 deaths one in Oklahoma and the others in Texas. Arkansas Farmers have been attacking the . Army corps of engineers saying it had mismanaged dams a at Lake Texoma on the red River and Lake Eufala in Oklahoma on the Arkansas. The corps rebutted complaints that its discharges from rising lakes was too much too late. A your projects operated As they were designed to. We managed them just exactly As they were designed to operate Quot Ross Adkins spokesman for the corps in Tulsa okla., said thursday. Iab oration is casting doubt on americans Long held commitment to global superiority in weapons technology the study said. Traditionally the United states has kept this Edge by focusing on military applications for new technologies with Little regard for possible civilian uses. Now As defense Industry Competition heats up in the Post cold War period the focus of multinational defense collaboration will be on dual use technologies it said. This a might ultimately undermine the position of the United states As a military superpower a because dual use technologies would be available to Many nations a the study said. A in time the . Military position might degenerate to the status of first among the study quoted an unidentified High ranking military officer As saying a if we want to stay a superpower we will invest to be ahead of the world in next Genera Tion systems. Otherwise we Are co developing and therefore not leading. We lose the superpower sen. Jeff Bingaman d-n.m., chairman of the armed services subcommittee on defense Industry and technology took a different View saying More . Emphasis on dual use technologies would help the Domestic Industry survive leaner times. Coffee firm withdraws ads from to station Boston apr Procter amp Gamble co. Pulled $ 1 million Worth of advertising from a television station that had run ads saying Coffee made by the company brews a misery destruction and death in Al Salvador. The 30-second spots were bought by a group that advocates a Boycott of folgers Coffee because it includes salvadoran Beans said by Yanoff president and general manager of Whdeh to. The group neighbor to neighbor paid $ 1,000 for each of two spots on wednesday and thursday and the advertisements were cleared with the stations lawyers he said a a the and met our commercial and Good taste standards a Yanoff said thursday. Don Tassone a spokesman for Procter amp Gamble said the spots a a disparaged folgers Coffee. The Boston Globe said Whdeh was the Only station in the country to run the and which is narrated by actor de Asner a critic of . Military Aid to the salvadoran government. A if you want peace in Al Salvador Tell Congress to Stop our massive military handouts and Tell your supermarket that you refuse to buy folgers which uses Coffee grown in Al Salvador. Boycott folgers Coffee. What it brews is misery destruction and death Quot Asner says in the and. A a it a misleading and its grossly inaccurate a Tassone said. A this and singles out folgers even though virtually every . Brand contains some salvadoran neighbor to neighbor says Coffee income enriches wealthy salvadorans Allied with the rightist salvadoran government. 1
