European Stars and Stripes (Newspaper) - July 13, 1990, Darmstadt, Hesse                                Friday july 13, 1990 the stars and stripes Page 5 a amp a recoveries put at $ 1 Washington apr the government is recovering misspent funds from the officers and directors of failed savings institutions and Banks at a rate of better than $ i million a Day a top regulator said wednesday. L. William Seidman. Chairman of the Federal Deposit insurance corp., said his Agency was investigating whether to file suit against the officers of 1,300 failed thrifts and Banks and has already filed suit against officials of 500 institutions. Seidman who appeared with administration officials before the House judiciary subcommittee on criminal Justice said fraud has been discovered in about half of the 460 a amp is seized by the government since february 1989. In 40 percent of the institutions fraud contributed significantly to failure. Approximately $100 million was recovered last year and More than $200 million was recovered in the first half of this year he said. A that is in excess of $1 million per Day in recoveries in 1990, he said. At that rate however the recoveries would still be dwarfed by the Cost of bailing out the a amp a Industry which has been estimated by the congressional general accounting office to be As High As $500 billion. President Bush s son Neil could be among the defendants Quot in a suit. He served As a director of Silverado banking savings and loan association Denver which collapsed in december 1988 at an estimated Cost to taxpayers of $1 billion. Seidman declined to comment on when a decision would be made on the Silverado Case. Agency officials have said they Are considering a suit to recover losses from Silverado directors. I administration officials have been increasingly hammered by democrats to demonstrate that they Are doing enough to prosecute fraud and recovers amp a losses. The a amp a problem is emerging As a hot Issue in this year s congressional  other savings and loan developments a Seidman and Timothy Ryan director of the of fice of Thrift supervision both promised to treat Neil Bush Scase no differently than any others amp a Case before them. In Houston president Bush repeated his Romise not to interfere with regulators and said he As had to a Calm Down his other sons who want to a go to the barricades on Neil a behalf a documents released by the ots show that Rygula tors believed Neil Bush was a unqualified and untrained for his position As director of Silverado. A the Senate approved a Broad crime Bill that stiffens prison terms for savings and loan fraud and offers rewards to whistle blowers. The House judiciary panel is considering a package of reforms designed it Speed the governments ant fraud Effort. It would be attached to a House version of the Broad crime Bill adopted by the Senate. It would provide More Money to hire investigators and attorneys to prosecute fraud prevent people convicted of fraud from evading restitution by filing for bankruptcy and allow regulators and prosecutors to seek to freeze the assets of those accused of fraud even before they Are found guilty. Members of the panel sparred with rep. Peter Smith r-vt., who is sponsoring a Resolution calling for  of a special prosecutor to investigate the a amp a scandal. Odic chief a William Seidman arriving to testify before a House subcommittee on wednesday. Ilis crutches Are from a horse Riding Accident. Sex Texas a amp a in Case Dallas a t former Sunbelt savings association president Edwin t. My blimey Iii has been indicted on charges of defrauding the government in connection with a $700 million real estate scheme the Fri announced wednesday. Mob Imey a indictment comes one month after the indictment of Donald r. Dixon who along with other former Thrift executives has been investigated in the failures of savings and Loans. Mob Imey a Thrift engaged in High risk Loans that were either unsecured or inadequately secured by commercial real estate and land according to government documents. My blimey resigned As chairman under Federal pressure in 1986. The 17-count indictment involves the Sale of a 708-acre plot of land in Denton county North of Dallas. The indictment charges that my blimey promised Western savings association another Dallas Thrift a $6 million profit on any property Western wanted to sell if Western would provide $30 million in funding to close another transaction. Barry suffered cocaine overdose during super bowl trip jury told Washington apr Marion Barry collapsed from a cocaine overdose during a 1987 trip to the super bowl and friends helped cover up the cause of his medical treatment a lawyer testified wednesday at the mayors drug and perjury trial Lloyd Moore who also described his use of drugs with the mayor said he Learned of the cocaine overdose in january 1987 in a Telephone conversation with a Friend of barrys who was in los Angeles with the mayor. Barrys Friend Jeffrey Mitchell a indicated that they had smoked. Cocaine laced with something Quot Moore said of the phone Call. Barry was a very sick. They thought he was going to die a Moore said Mitchell Tola him. Moore was the sixth prosecution witness to describe using drugs with the three term mayor. His testimony followed that of Theresa Southerland a 27-year-old Secretary who said she snorted cocaine with Barry repeatedly from 1987 to 1989, at apartments and Homes and on two trips to the Bahamas. Barry is facing 10 counts of cocaine Possession one count of conspiracy and three counts of lying to a grand jury about his alleged involvement with drugs. A prosecutors Are using the testimony of Moore who was appointed by Barry to the City boxing and arts commissions to support a charge that Barry conspired to conceal his cocaine use. Barry was hospitalized for what was officially described As a hiatal hernia in 1987 in los Angeles where he had travelled to see the new York giants play the Denver Broncos in the super bowl. Mitchell said he told Hospital workers by phone a what he would allow Barry them to do a testified Moore. The Hospital a was not allowed to take blood from the mayor Moore said Mitchell told him. Moore who practices Law in Washington testified he and Barry used cocaine together at Moore a Home about six times from May 1986 to March 1987. Barry used cocaine by himself at Moore a Home about three times Moore said adding that he gave Barry cocaine a a couple of times a each time in an amount Worth about $50. A thirteen times you saw the defendant use or possess cocaine in your Home Quot asked assistant . Attorney Richard Roberts. A that is Correct a replied Moore. The testimony of Southerland the second woman to testify about having a romantic relationship with Barry echoed statements by other witnesses who said they had used drugs with the mayor at Washington Homes and in the Bahamas. A i hit the cocaine and he hit the cocaine Quot Southerland said of a March 1988 get together with Barry. New Osha Rule requires workers to Wear seat belts Washington apr thirty five million workers who drive on the Job will have to Wear seat belts under a regulation announced wednesday by labor Secretary Elizabeth Dole. Even business people Riding in taxis will have to buckle up. The chamber of Commerce called the Rule a regulatory overkill but the Al Cio said it did no to go far enough. Under the Rule to take effect after a 120-Day comment period and possibly a hearing employers who fail to make their workers use seat belts could face fines of up to $10,000. Dole told reporters she was unsure when the occupational safety and health administration will begin enforcing the Rule. But Fred Krebs manager of the . Chamber of Commerce a business Goy emment policy department said that it a seems to me that it could be regulatory overkill. That its perhaps a Little More nit picking than one would like to see from  Krebs said his initial reaction was that a there might be More significant safety and health issues that Osha could be  the Al Cio which represents 14.2 million unionized workers praised the new regulation but said the Standard also needs to require vehicle inspection and maintenance. The seat Belt Rule a is a first step in reducing the High toll of Job related motor vehicle fatalities and injuries a the labor federation said in a  the stars and stripes 40 years ago today july 13, 1950 a outgunned and outnumbered . Forces fell Back behind the Kum River just 12 Miles North of Taejon South Korea for a stand on a a natural tank barrier."30 years ago today. July 13, 1960 a sen. Lyndon b. Johnson of Texas challenged Massachusetts sen. John f. Kennedy to a face to face debate on the issues of the democratic presidential nomination but rejected the terms Kennedy later set in accepting.20 years ago today. July 13, 1970 a Secretary of stale William p. Rogers called top . Peace negotiators Back to Washington for what appeared to signal the Start of a new american drive for a Vietnam settlement. Before going into conference with prime minister Edward Heath and other British leaders Rogers conferred with ambassador David . Bruce at the . Embassy in london.10 years ago today. July 13, 1980 a the . Geological Survey issued a a Hazard watch for Washington and Oregon after recording a swarm of earthquakes that rocked the mount Hood area near Portland ore., and South of mount is. Helens