European Stars and Stripes (Newspaper) - November 8, 1991, Darmstadt, Hesse                                Friday november 8, 1991 the stars and stripes b Page 17 a today a tip about a Quarter of the population says lying to insurance companies is of a Survey released wednesday showed. The Survey sponsored by the insurance research Council found that 23 percent of those interviewed said it is perfectly acceptable to pad an Auto insurance claim to cover collision deductibles. Twenty percent said they saw nothing wrong with padding claims to make up for premiums paid during the years when they Haa no claims. Thirty two percent of those surveyed said it is a almost always or a a usually acceptable to understate the number of Miles driven annually to lower Premium costs and 23 percent said there is nothing wrong with lying about where one lives to keep Premium costs Down. Tue Survey conducted by the Roper organization also explored attitudes toward fraud in other areas of life. Similar attitudes surfaced about lying to the internal Revenue service and exaggerating ones income to Job interviewers. Twenty eight percent said it was All right to withhold information about debts when applying for a Bank loan. Conversion rates London up a thursdays 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 $354.75 an ounce Silver at $4.02. Nov. 6 nov. 7 British pound.1.7730 1-7780 German mark.1.6405 1.6350 French franc.5.5940 5.5958 dutch guilder.1.8525 1.8375 belgian iranc.33.73 33.74 italian lira.1,227.00 1,228.50 Swiss franc .14490 1,4450 greek drachma.184.60 184.33 turkish lira.4,890.40 4,897.40 saudi arabian rtyal.3.7501 3.7502 Spanish peseta .103.04 102.90 portuguese escudo.140.72 140.62 Canadian Dollar 4224 t .1225 austrian schilling.11.5260 11-5075 norwegian krone.6.4230 a 5159 danish krone.6.3560 6.3435 these Are commercial rates and can be related Only to the use of 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 1.60 through Friday based on thursdays noontime Price fixing. Dow Jones new York up do dosing rings 01 avenges wednesday 30 industrials 20 trans Parl 15 mimes 65 stocks he 3056.57 1284.57 216.70 1108.51 Low 3010.51 1259.34 213.82 1090.64 close 3038.46 1271.67 216.45 1101.40 change up 7.15 on 2.62 up 1.69 up 2.07 hungarian praises . Merchandising Albany a. Apr an agricultural official from Hungary admires . Food packaging and says its just what her meat producing country needs to boost exports. A a it a amazing a Mariae Guba said after touring supermarkets in Southwest Georgia. A a it a attractive hygienic and  Guba is president of a 12,000-member farm cooperative South of Budapest that Sells beef Honey and Goose feathers. She and another Coop official toured Southeast Georgia As guests of the federation of Southern cooperatives. Fed Lowers key lending rate As economic fears heighten by new Day reflecting Washington a increasing worry about the weak National Economy the Federal Reserve Board has again Cut its key interest rate lowering the discount rate to an 18-year Low. Within 30 minutes of the feds an ounce rent major Banks responded by a a a t it. _____1- j,�?~__4 4la i my. Cutting their prime lending rate a the incest rate to a a l Quot pirate custom. 7.5 percent. Many consumer loan and in Ley charge their Best corporate customers a from 8 percent to vestment rates Are based on the prime which is at its lowest Point since 1986. The actions �?1 the fifth reduction this year in both the discount rate and the prime a came amid heightened concern the Economy is at Best stalled and at worst headed for another downturn into a a double dip Quot recession. While economists and Bankers welcomed the lower interest rates they were sceptical whether they would do much to reinvigorate the Economy. A nothing seems to perk the consumer a interest a said George Engelki president and chief executive of Astoria Federal savings. A a we be got a form of general consumer malaise and interest rates Are not going to make a difference a the discount rate which the fed charges Banks for Short term Loans was reduced from 5 percent to 4.5 percent. When Banks pay less for Money they generally charge less for it. Although president Bush and his advisers say they believe the Economy is rebounding the president said wednesday that he wants to find a Way to get Consumers spending again. Congressional democrats have accused Bush of being preoccupied with foreign policy at the expense of Domestic matters especially the Economy a theme that will undoubtedly extend into next years presidential Campaign. While the ral. Federal Reserve is an Independent body that oversees banking and monetary policy some economists said the timing of the rate Cut was interesting. Rate reductions usually take six to nine months to help which Means recent cuts could help stimulate the Economy in the Middle of the presidential Campaign next year. A is this the Harris Wofford memorial discount Cut a asked h. Erich Heinc Mann chief economist for Ladenburg Thalman amp co., referring to the Pennsylvania democrats Senate Victory tuesday Over former Bush administration attorney general Richard Thornburgh. Hencmann and other economists said the problem is that while interest rate cuts Are designed to stimulate borrowing people and corporations arc already overburdened by debt. 60 million and counting Volkswagen turned 60 million in a matter of speaking last week bration the company which was founded in 1938, also rolled when workers at the German automaker sent their 60 Millionth out a Vintage 1955 Beetle to join no. 60 million a Brand new car rolling from the Wolfsburg Assembly line. As part of the cel Golf. Banking chief ousted from Post by the Washington Post Washington a the Senate banking committees democratic majority wednesday rejected the nomination of Robert l. Clarke to a second term As the nations chief Bank regulator saying his policies have contributed to a record number of Bank failures in recent years. In the second setback in a week to Bush administration banking policies the committee voted 12 to 9 along strict party lines to turn Back Clarkes renomination As comptroller of the currency. The emotional two hour session saw angry republicans abandon traditional Senate decorum in bitter denunciations of the committee chairman and their democratic colleagues. It was one of the very few times in decades that a sitting nominee to any major Federal Post has been turned Down for another term. After the vote democrats on the panel also Defeated a motion from ranking Republican Jake Garn of Utah Clarkes leading defender to bring the negative recommendation to the full Senate floor for a vote. Committee chairman Donald w. Riegle jr., d-mich., has pressed All year for Clarkes ouster arguing that his laxity in the Early part of his six year tenure allowed Banks to lend recklessly. The Price of that failure he argued has been record numbers of Bank failures that now require a $70 billion taxpayer loan to the fund that insures deposits in the nations Banks. Clarke had no comment wednesday. He can continue to serve until a successor is named and confirmed. Treasury Secretary Nicholas f. Brady in a prepared statement said Quot the Senate banking committee today completed its shameful work on Bob Clarke s nomination. This is crass politics and partisanship at its worst. It is the time honoured duty of the Senate to advise and consent it is another thing to engage in character assassination and  president Bush was in Rome on wednesday for the nato conference but a White House official said a we regret his defeat. The president worked hard to get him