European Stars and Stripes (Newspaper) - December 19, 1991, Darmstadt, Hesse Thursday december 19, 1991 the stars and stripes c Page 7 fed Boss says . Recovery has faltered Washington a Federal Reserve chairman Alan Greenspan said wednesday the . Recovery has faltered and he held out the Promise that the Central Bank was prepared to Cut interest rates further if needed to revive the sick Economy. In his most pessimistic comments to Date Greenspan said that a huge overhang of consumer and business debt and a financially strained banking system were hindering efforts to get out of the recession. But he cautioned Congress against Rushing to enact any Quick fixes that would inflate the budget deficit. A the upturn in business activity that began earlier this year clearly has faltered a Greenspan said in testimony before the House ways and Means committee. Since the recession began in july 1990, the Federal Reserve has moved 14 times to Cut Short term interest rates. Greenspan told Congress wednesday that the Central Bank was prepared to do More if the Economy remained weak. With the Economy doing so badly Many analysts believe that the fed will embark on another round of rate cuts within the next two weeks. Greenspan gave a lukewarm response when asked his opinion about a proposal the Bush administration is considering to Grant every american taxpayer a onetime rebate of up to $300 in 1992 As a Way of spurring consumer spending. Greenspan said a it would be inappropriate for me to comments on such a proposal but when asked later whether he considered it sound policy to increase the Federal budget deficit by $30 billion next year the Price tag put on the rebate proposal Greenspan answered with a Short Greenspan was testifying at the end of a series of hearings held by the ways and Means committee on responses Congress should make on spending and taxes to help a sick Economy. Passenger train derailment derailed cars sit amid the wreckage of several houses in Palatka fla., after an am Irak train jumped its tracks tuesday. The Accident injured 55 people. The train was carrying about 170 passengers and a Crew of 16 Tom new York City to Tampa when it Jackknife across the Street. The Accident is being investigated. Sat aids rated Good but unfair by the new York times commercial courses that train students to take standardized tests can raise scores significantly and give students who can afford such courses an advantage Over poorer students in getting into College or receiving a scholarship according to a new report. The report by the National Center for fair and open testing a non profit group in Cambridge mass., that also goes by the name fairest asserts that studies done Over the last 20 years prove coaching courses can raise a students score by 100 Points on the Scholastic aptitude test. The test is a multiple Choice examination with a top score of 1600 that Many colleges and universities use in making admission decisions. More than 100,000 students a year pay for coaching courses that can exceed $500 each the report said. The College Board which administers the sat to More than 1.5 million students a year and the educational testing service which devises the test have consistently held that cramming and drilling do not reliably improve test scores. College Board and testing service officials said the strategies and shortcuts taught by coaching companies can sometimes Hurt a students performance. The report which was to be issued wednesday reopens an argument about the equity of standardized tests. Fairest a Long standing critic of Standardi Zed tests contends that since a coaching course offered by companies such As the Princeton review or Stanley h. Kaplan educational Center costs More than $500, poor students who cannot afford such fees Are put at an even greater disadvantage than already exists with the Way the test is structured. Fairest contends that the test is biased because certain questions Deal with ideas and terms a like dividends deeds and heirlooms a that students from Low income families arc not Likely to offers Cash for guns turned in Norfolk a. Up1 Norfolk a City Council groping to get a grip on gun abuse tuesday deployed a disarmament program that offers Cash to local residents who give their guns to police. A the escalating violence in our country is a result of too Many handguns being readily available to Young people who seemingly place no value on human life a police chief Henry Henson said. A getting guns off the streets is one Way of addressing this problem. Officers will accept the guns Norfolk residents bring in no questions the program will run from wednesday to dec. 23.it offers basically Pawn shop payouts residents will get $40 Cash for each handgun $20 for each Long gun and $75 for each fully automatic gun. Depending on the manufacturer used firearms in Good condition frequently sell for hundreds of dollars at commercial gun shops. While police said they will accept All guns they will pay Cash for Only genuinely manufactured ones. Any Norfolk resident wanting to turn in a firearm May do so with Complete anonymity police said but they will buy no More than three guns from one person. People using guns committed about 85 percent of All Norfolk homicides in 1989, 1990 and 1991, police said. This City of about 300,000 has recorded More than 80 homicides this year. Tree bark drug offers cancer Hope Washington apr Taxon a drug made from the bark of the Pacific Yew tree was found to halt or slow progression of tutors in More than half of 25 breast cancer patients enrolled in clinical trials at a Houston Hospital. The study led by or. Frankie Ann Holmes of the University of Texas . Anderson cancer Center found that three of 25 patients experienced Complete remission of their cancer after treatment with Taxon. Eleven other patients the study said had partial remission while eight showed a minor effect on their disease from the drug. For one patient there was no change in the tutors and for two others the cancers continued to grow. Patients in the study had experienced a spread of cancer such As to the Bone or liver after primary treatment for breast cancer. Some had received earlier chemotherapy a report on the research published in the journal of the National cancer Institute said that since the initial period of therapy one patient who had a Complete remission has relapsed. For the other two patients Complete remission continues. A in Only two patients did Taxon fail to cause any regression or stabilization of tumor a the study said. A eleven patients continue to respond favourably. Fourteen patients have experienced disease progression and eight of these have the researchers used drugs to limit some toxic effects of Taxon but there were a number of Side effects reported including muscle and Bone aches a numbness in hands and feel and a loss of hair that was experienced by most of the patients. The researchers said studies need to be done to determine the Best dosage for Taxon and also How Best to use the drug in combination with other cancer therapies. Realtor turned mayor guilty of cheating a amp a Trenton . Up a the mayor of new jerseys second largest City was convicted tuesday of defrauding a now defunct Florida savings and loan of almost $300,000 while he was out of office and trying his hand at real estate development. A jury in Federal court found Gerald Mccann guilty of 15 of 16 counts that include mail and wire fraud tax evasion and failure to file an income tax return. . Attorney Michael Chertoff who prosecuted the Case suggested that Mccann should resign As mayor. Prosecutors charged that Mccann borrowed $300,000 from the Southern Florida Banc Boca Raton in 1986 to bid on a Marina development in Liberty state Park and then used the Money to pay himself a salary to lease a Mercedes and to buy furs and valuable coins and Stamps. The Bank which was later taken Over by Federal regulators set up a joint venture with Mccann called historic Equi shares inc. Mccann admitted Many of the facts but described his conduct As a series of mistakes. Defense lawyer Matthew Boylan repeated that description after the verdict saying Mccann was guilty Only of a foolishness and Boylan said that the verdict will be appealed and that Mccann does not intend to step Down As mayor until he is forced to
