European Stars and Stripes (Newspaper) - January 31, 1991, Darmstadt, Hesse                                Page 10 a the stars and stripes thursday january 31, 1991 Bank fund May be broke by oct., Congress told Washington apr the government fund protecting More than $2 trillion in Bank deposits will run dry soon after sept. 30, the congressional budget office told Congress tuesday. If the recession is severe instead of mild As expected that raises the Prospect of a taxpayer bailout of Banks to follow the massive bailout of savings and loan institutions the office said. I a if Banks Are unable to recapitalize the fun there would appear to be Little alternative to calling on the resources of the Treasury a that is the taxpayers a a said Robert d. Reischauer director of the office. Members of the Senate banking committee re Sci Schaur a lived the news soberly some noting the similarity Between the deterioration of the Bank fund the Federal Deposit insurance corp., and the earlier collapse of the fund insuring savings and loan deposits. A a it a a rather stunning development a a said committee chairman sen. Donald w. Riegle jr., a Mich. A a in a concerned that with each succeeding testimony and each succeeding witness we confront the situation worsens a said sen. Paul Sarbanes did. A a it a increasingly becoming a crisis situation.�?�. Reischauer told the committee a within a year or so the fund will be out of Cash and insolvent without some. Infusion a. The forecast is based on the Assumption the Economy will suffer a Milder than average recession causing 596. Bank failures Between last july and december 1993. It also assumes premiums Banks pay for Deposit insurance will increase substantially from 19.5 cents for every $100 in deposits to 30 cents by Jan. 1,1993. The fund balance a would almost disappear by the end of fiscal year 1991�?� on sept. 30, Reischauer said. The Odic itself is less pessimistic. It has said the fund will still have about $4 billion on dec. 31, Down from $18.3 billion three years ago. Reischauer predicted the fund Likely will need to borrow $11 billion from the Treasury. He recommended increasing the of Dick a borrowing limit from the current $5 billion to around $15 billion. Reischauer said the fund should be Able to repay the Treasury within five years out of premiums from tanks. Burt to quit As arms negotiator Washington a Richard r. Burt the chief . Strategic weapons negotiator with the soviet Union and a former ambassador to West Germany will leave in March to take a Job As a private consultant. Raymond . Seitz will be named . Ambassador to London As part of a re shuffling among top posts in the Bush a Duimstra it Ion officials said tues a Day Quot r Burt 49, will be Back in Geneva this week however resuming work on the unfinished strategic arms reduction Start treaty to Cut . And soviet Long Range nuclear mis Sites bombers and submarines by about 30 percent a Overall. A Seitz 50, is currently the assistant Secretary of state for european affairs. In taking the . Post he will succeed Henry e. Catto jr., who in turn will become director of the . Information Agency. Bruce Gelb will move from the Usia directorship to an assignment As the . Ambassador to Belgium. Burt Seitz is returning to London where he served As Deputy ambassador during the Reagan administration. The Job historically has gone to Rich political appointees. Seitz is a career foreign service officer who was plucked from the bureaucracy by former Secretary of state Henry a. Kissinger to be his chief of staff. Seitz remained in senior administration Post under former Secretary of state George p. Shultz. Burt notified Secretary of state James a. Baker Iii late last year of his desire to resign. Baker a deeply appreciates the work ambassador Burt has done Over the last 24 months As the presidents Start negotiator a state department spokeswoman Margaret d. Tutwiler said in a statement monday night. Other . Officials speaking on condition of anonymity told the associated press that it was a personal decision by Burt after 10 years of government service. They said he was not leaving out of frustration the Trca to is still unfinished or because of any frictions. In Geneva Burt has been in charge of the . Side of negotiations with the soviets Over a wide Range of issues that include talks on space defense systems. He returned to Washington last week to take part in talks Between . And soviet experts on the Start treaty. Five Days of meetings at the state department failed to resolve the remaining technical differences. Election commission suing Era Washiington a the Federal election commission is suing the National Rifle associations lobbying Arm and political action committee for More than $830,000 Over allegedly illegal contributions court records show. The lawsuit filed in . District court in Washington alleges the nral a lobbying Arm illegally gave $415,744 to the political action committee during the �19x8 Campaign. The act was illegal because political action committees which give Money to political candidates cannot accept corporate Money the lawsuit says. An Era official denied any wrongdoing and said the Fec was incorrectly interpreting the election Law. The lawsuit asks that the nral a lobbying Arm the Institute for legislative action and the political action committee the Era political Victory fund each be lined the amount of the alleged illegal payment. Richard Gardiner nral a director of state and local affairs said on tuesday the Era will argue that the commissions interpretation of Federal election Law is wrong. Us. News 3 plead guilty in bombing of cars at much orc fab a a a a a a a a. A a a a a. A it a. A from wire reports Tacoma Wash. A three Young men have pleaded guilty in the pipe bombings of two cars at me chord fab. A investigators have said the nov. 11 bombings and a Small fire set outside the building housing the air Force office of special. Investigations a me chord were intended As retribution Lor probes the office was conducting. Nobody was injured. Arch John Drummond or. And Louis Michael Baldassari both 20, of Tacoma face mandatory five year prison terms after admitting monday they used explosives to commit a felony . Attorney Mike Mckay said. Michael Jay Drummond 18, brother of Arch Drummond faces up to 10 years in prison after pleading guilty to Possession of unregistered explosives. . District judge Jack Tanner set sentencing for april 19. A fourth defendant in the Case Michael Richard Levasseur 20, of Tacoma pleaded guilty Friday to conspiracy and faces up to five years in prison when sentenced april 12. The defendants also face fines of up to $250,000. Home agent unveiled new York a operators who handle Calls for Magazine subscriptions and airline reservations May soon have the option of working out of their Homes with a product unveiled tuesday by american Telephone amp Telegraph co. The phone company a new product called the Home agent will allow Call Center employees to work at Home even if they live thousands of Miles from the Call Center the company announced. What an irs Bill Washingto Dickie Ann Conn of san Jose calif., knew she had some minor tax problems because of some disputed deductions so she was expecting a bad news letter from the internal Revenue service. She got it in Spades. Conn part owner of a computer consulting business was billed for $67,714 in Back taxes for six years a plus a penalty of More than $646,700,000. According to an affidavit made Public tuesday by the National coalition of irs whistle blowers Conn called the irs in san Diego to have the mistake corrected and was told by a clerk that the Only recourse was to file suit in tax court. 6 whooping cranes die Austwell Texas a six whooping cranes have apparently died since they arrived in Texas for the Winter the worst setback for the endangered species since 1982, a biologist said tuesday. There Are believed to be 140 whooping cranes at their Winter Home at the Refuge and adjacent coastal areas Down from the 146 counted in december after the annual 2,400-mile migration trom the Birds Canadian nesting grounds. There Are 79 cranes in other Hocks or wildlife centers. Ammonia leak evacuation Chicago a an ammonia leak forced the evacuation of a Candy factory tuesday and sent 16 workers to the Hospital with minor injuries authorities said. The leak came from valves near a main floor boiler room at Brach Candy co and forced the evacuation of All 1,100 workers on the Day shift said company spokeswoman Terri Kaminski. Ammonia is used in refrigeration units at the West Side Plant she  passes agent Orange benefits Bill Washington a the House on a vote of 412-0, sent to the Senate on tuesday a Bill to ensure that Vietnam War Veteran suffering from certain illnesses due to exposure to agent Orange receive permanent disability benefits. The legislation codifies benefits for veterans amid a lingering controversy Over the herbicide and the Reagan administrations handling of a scientific studies on agent Orange. The Senate was expected to pass the Bill handily. President Bush supports the Bill White House spokesman Marlin Fitz water said prior to the House vote. Agent Orange was a herbicide sprayed by . Troops in Vietnam to remove Jungle cover. Many veterans contend it is responsible for cancers birth defects in their offspring and other ailments. Rep. . A a Sonny Montgomery d-miss., chairman of the House veterans affairs committee said the Bill a can perhaps ease the bitterness anxiety and Dis appointment which has engulfed both this Issue and Earnest attempts to respond to our Vietnam  under the legislation Vietnam veterans who suffer from non Hodgkins Lymphoma and soft tissue Sarcoma and their survivors would be eligible for permanent disability benefits. Veterans who developed Chlorace within one year of their military service in Vietnam also would be eligible. The Bill establishes As Law what had been an administrative program. Under the legislation the veterans affairs department is required to decide whether former servicemen suffering from other diseases determined As linked to agent Orange Are eligible for the Sam benefits. The National Academy of sciences Wii conduct the scientific reviews to deter mine the link and the department i base its decision on the studies the la stipulates