European Stars and Stripes (Newspaper) - February 6, 1991, Darmstadt, Hesse                                Vol. 49, no. 296. Wednesday. February 6, 1991 �35c daily and Soe sunday d 86�3_amajor overhaul of a proposed by White to Washington a the Bush administration tuesday proposed the first comprehensive overhaul of the . Financial system in half a Century a plan that would Force fundamental changes affecting nearly every american who borrows or saves. For the first time since the establishment of Federal Deposit insurance in 1934, government guarantees to Bank customers would shrink rather than expand. And longstanding Laws barring commercial and Industrial companies from owning Banks would crumble As would the division of banking from the insurance and securities industries. The Long awaited proposals presented by top White House officials must be approved by Congress. Treasury Secretary Nicholas Brady said the changes were critical to overhaul an outdated financial system and ensure that the Overall Economy is not threatened by weak Banks. A today our banking system is under stress. Our Banks Are hampered by out of Date Laws a Brady said in unveiling the administrations Reform plan. A we must modernize our banking Laws to Deal with the realities of the marketplace a Brady said a if we expect to exert As a country world economic leadership in the 21st cent pry we must have a Modem banking  the administration would relax decades old restrictions on interstate banking within three years making it easier for giants such As Citicorp Ana Bank of see Banks on Page 10 a . Service member faces a barrage of waiting headlights while standing guard at a Dhahran checkpoint. Bush sending Cheney Powell to Gulf for first hand report Washington apr president Bush said tuesday he is sending defense Secretary Dick Cheney and Gen. Colin l. Powell to the persian Gulf War zone this week for a a first hand status report on a conflict that he said is a going very Well  three weeks into the War against Iraq Bush said any Leader but Saddam Hussein would have yielded by now. To the pounding of . And Allied air strikes against his army and his nation. Bush also said those air raids Are trying to avoid civilian casualties and Muslim holy places warned the iraqi Leader to consider a very very carefully the retribution he would face if chemical weapons Are used against the allies and said it will take Swift unconditional withdrawal from Kuwait to end the War. The president said Cheney and Powell the chairman of the joint chiefs of staff will go to saudi Arabia late this week to Confer with the Allied command. He said the Mission will be a Brief one and does no to signal any change in War policy or objectives a or the Start of a ground Campaign. While saying that he Hasni to put his Aims in terms of surrender. Bush set Down unyielding conditions for an end to the conflict saying Iraq must begin a a credible visible totally convincing withdrawal from Kuwait and immediately restore the government of Kuwait. A a he a got to say a in a going to get out of Kuwait now fast a a the president said. The Cheney Powell trip will be the first top level Mission to the persian Gulf since the War began with bomb see Bush on Page 10 Baghdad Calls for terrorism worldwide from staff and wire reports . Warplanes tuesday struck deep inside Iraq Hunting Down missile launchers and hammering Saa dam Hussein a crack troops. Iraq vowed vengeance calling for terror attacks on Allied targets worldwide. Baghdad radio declared that the allies must pay for the destruction that has rained on Iraq. A do not spare any interest of any of the countries taking part in the aggression against your Brethren a an announcer said. A fight them with All your Force in All their Dens wherever they  the radio broadcast a series of cryptic messages that sounded like coded instructions for terror attacks by agents abroad. It was impossible to Tell if they were genuine. A meanwhile the Missouri a 16-Inch guns boomed again overnight silencing a troublesome iraqi artillery Battery in Kuwait with six 2,000-Pound shells the . Military said. Sources said the historic battleship would be joined soon by it sister ship the Wisconsin. In other developments syrian and iraqi forces Exchange fire near the saudi Border in the first reported combat by Syria in the persian Gulf War and the . Military said 10 More iraqi warplanes reportedly sought Refuge in Iran a bringing the number that have to about 110. T Baghdad was rocked Early tuesday by another Allied bombardment a correspondent Salah Nasrawi reported from the iraqi capital. He said smoke and fire reached into the sky and residents fled to bomb shelters. A Nasrawi quoted travellers As saying Saddam a Hometown tint also was attacked. The allies maintain they Are targeting military and strategic targets but Iraq has repeatedly insisted the attacks Are killing civilians. In a letter to newspapers iraqi foreign minister Tariq Aziz said civilian casualties have risen to 428 killed and More than 650 wounded. The official radio reported 373 More air raids monday see terrorism on Page 10check put readers action line on Page 16 y War in the it see i pages 2 1 through7 ,v.v.v.y.\v/.\