European Stars and Stripes (Newspaper) - September 19, 1991, Darmstadt, Hesse                                Page 18 c the stars and stripes thursday september 19, 1991 Money matters today s tip the department of veterans affairs announced tuesday that it has lowered its Home loan rate to 8.5 percent from 9 percent. The new rate was scheduled to take effect wednesday. The reduction takes the vans maximum Home loan interest rate to its lowest level since april 1987 and continues a 10-month trend. The decline from a 10 percent High in november 1990 Means that the monthly payment on a typical a loan of $84,500 has dropped to $650 from $742, meaning a potential Borrower savings of More than $33,000 Over the life of a 33-year loan the a said in a statement. A Home Loans May be used by qualified veterans service members and surviving spouses to Purchase improve or refinance a House or condominium. Conversion rates London up wednesdays rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $348.50 an ounce Silver at $4.10. Sept 17 sept 18 British pound.1.7425 1.7320 German mark.1.6705 1.6830 French franc5.6875 5.7325 dutch guilder.t.8835 1.8870 belgian franc34,41 34.7375 italian lira1,249.00 1.258.60 Swiss franc.1.4585 1.4715 greek drachma185.82 186.65 turkish lira.4.604.00 4,635 80 saudi arabian riyal3.7502 3.7502 Spanish peseta104.80 105.45 portuguese escudo143. J9 144.34 Canadian dollar1.1358 1.1364 austrian schilling.11.754 11.0375 norwegian krone.6.5480 6.5890 danish krone.6.4475 6.4930 these Are commercial rates and can be related Only to the use of i foreign currency by . Forces for official business. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.64 through thursday based on wednesdays noontime  faces 33-state probe Washington a securities regulators in 33 states and the District of Columbia said tuesday that they will investigate the Salomon Brothers Bond scandal. Federal investigators already arc conducting civil and criminal investigations into Salomons admission that it violated rules governing Treasury securities auctions As Well As the government Bond Market at Large. States can revoke or suspend Salomons License to sell securities within state Borders. In previous cases states have imposed heavy fines on firms As part of settlements allowing them to keep their licenses. The 33 states Are a Alaska Arkansas California Colorado Georgia Illinois Indiana Iowa Kansas Kentucky Maine Maryland Massachusetts Mississippi Missouri Nebraska Nevada new Hampshire. A new Mexico new York North Carolina North Dakota Oklahoma Pennsylvania Rhode Island South Carolina South Dakota Texas Utah Virginia West Virginia Washington and Wisconsin. The District of Columbia also joined the multistage Effort. No says alumni program ended his retirement fears by Chuck Roberts staff writer Hanau Germany a sgt. 1st class Simeon Howard did t have the Confidence to leave military life until he visited the army career alumni program office in Hanau. But after nine hours of intensive instruction on How to succeed in the outside world Howard has turned in his retirement papers and is pursuing a career in criminal Justice. �?o1 wish More people knew about the program a Howard said at the Acap office in Hanau that is the Pilot program for Europe. A it really made my mind up about staying in the  the 11 other Acap centers in Europe Are scheduled to open oct. 15. When Counselor at the Acap Center found out that Howard was interested in going Back to school they directed him to the education office. There he was Able to find a College that offers excellent benefits to veterans and is located near his Sisters Home in South Carolina. The More they know the better off they will be said Suellen a Teton the transition service manager in Hanau. A information is Power and we like to empower our clients a Bunton said. A we give them gobs of  about seven people have taken information from the Acap office since it opened feb. I and converted it into stateside jobs Bunton said. But there have been others who decided to stay in he military after being made aware of me benefits they were receiving such As free rent and utilities. Bunton encourages people to attend the free service even if they have a Job or a school waiting for them when they get out of the military because the information May come in Handy after they graduate or when changing jobs. She also encourages both husbands and wives to attend because important k my Howard Bunton life decisions Are being made. A we give them a lot of food for thought to take Home and think about Quot Bunton said. Bunton said this team concept paid off for two married lieutenants who were leaving the army. The husband knew he wanted to attend graduate school but he was surprised to learn that he could take the Entrance exam to enter graduate school in Hanau. His wife Wasny to sure what she wanted to do after army life so she took a Job interest test that gave her enough guidance to begin putting a resume together. The 11 other Acap offices scheduled to open oct. 15 will be located in Germany and Italy. The German communities Are Niernberg Kaiserslautern Frankfurt Heidelberg Bremerhaven Berlin Vilseck Wurzburg Baum older and Stuttgart. The italian office Wilt be in Vicenza. Interest in the Hanau Center was slow to develop after it opened feb. I because of the War and the recent summer vacation period but More than 300 people came to the Center in August Bunton said. The Acap program was not created because of troop reductions in Europe but the draw Down was a Factor said maj. Howard Loney the Usa eur transition management officer who oversees the program in his office at the 1st personnel come in Schwet Zingen. Howard said the main goal of the program is to help anyone who is about to make the transition to the civilian work Force. Panel told a amp a bailout May not be near end Washington a the end of the savings and loan bailout remains elusive despite the Bush administrations Assurance that spending $80 billion More almost certainly will finish the Job congressional watchdog agencies say. A no one should he lulled into thinking that providing an additional $80 billion today guarantees an end to a amp a funding requests a Charles a. Bowsher head of the general accounting office told a House banking subcommittee on tuesday. He and Robert d. Reischauer director of the congressional budget office said the bailout Agency the Resolution Trust corp., May run Short of Money even if Congress As requested doubles its appropriation to $169 billion. Reischauer said his Agency is forecasting a bailout Cost of $191 billion which could vary up or Down by $30 billion. He said 1,500 thrifts Likely will fail from 1989 through 1996, compared with the administrations estimate of 900 to 1,000. Deputy Treasury Secretary John Robson and Resolution Trust chairman l. William Seidman testified last week that they could not absolutely guarantee that an additional $80 billion will be All that s needed but they expressed Confidence that it would be More than enough. The administration is warning that without the second $80 billion the Resolution Trust will run out of Money by the end of october. It is asking for a two year appropriation thus avoiding a fight Over an additional funding request shortly before next years presidential election. Bowsher suggested Congress May want to give Resolution Trust Only $50 billion and re evaluate the Agency s Progress in june 1992. Meanwhile rep. Frank Annunzio diii., chairman of the House banking subcommittee on financial institutions complained that Resolution Trust and its Parent Agency the Federal Deposit insurance corp., were wasting Money in lavish expenditures on furniture and staff perquisites. Quot it is going to he hard to vote to give this Agency 80 cents let alone $80 billion unless its spending excesses Are reined in a Annunzio said. The fd1c and Resolution Trust in a written response characterized Annun Zions report As a grossly misleading Quot and complained that Annunzio a staff refused to seek verification of the expenditures. The Acap centers can be used by service members who Are within 180 Days of getting out of the military their family and government employees. The program is divided into two classes the first class is a three hour Job assistance seminar that gives people a Basic plan of action for getting a Job. Makes them aware of their military benefits and assists people with their out processing. Helpful reminders Are Given such As having copies made of military medical records. Bunton said a few phone Calls can sometimes Clear up a Snag in the out processing and allow soldiers to concentrate More on what they will be doing when they leave the army rather than trying to get out of the army. A big goal of the program is to leave soldiers with a Good impression of the military so that they will consider staying in the ready reserves or encourage others to join the military Bunton said. The second class is a six hour civilian contracted seminar that gives More intensive training in areas such As Job networking resume writing and interviewing. The program also includes computers that can be used for writing resumes and Hunting jobs. Soldiers can Tell the computer what their military occupational specially is and receive a description of their army Job in civilian language. The Acap Center is connected to the employee army network data Bank which is a list of More than 3,000 potential employers that is updated twice weekly. The Counselor done to find jobs for people but they will go out of their Way to help them help themselves Bunton said. But the Hulk of the program depends on the persons putting Forth the Effort which most people have done Bunton said. A when they leave Here they know How to Hunt for a Job a Bunton  assets Frozen by . Washington a the government on tuesday froze the . Assets of Ghaith Pharaon a saudi multimillionaire accused of acting As a front Man for the scandal Ridden Bank of credit and Commerce International. The Federal Reserve which announced the move also said it was seeking a $37 million civil penalty against Pharaon for his alleged illegal acquisition of Independence Bank in the Encino Section of los Angeles. The fed previously accused Pharaon 51, an entrepreneur with close ties to the saudi Royal family of serving As a front in by Cir a allegedly secret illegal acquisitions of Independence Bank and the National Bank of Georgia and in its secret part ownership of the since failed entrust savings Bank of Miami. I he fed said the . District court in new York froze Pharaon s . Assets on behalf of the Justice department and at the feds request