Nation/World
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Nation/World briefs Johannesburg, S. Africa
Mandela prosecution to continue
A judge refused yesterday to dismiss kidnap charges against Winnie Mandela, overruling defense claims that prosecutors failed to provide enough evidence to proceed with the case.
Justice M.S. Stegmann ruled against defense motions that the state failed to provide enough information to enable Mandela and three codefendants to prepare their defense.
The judge, however, ruled Mandela should be given more details about the state's charges on her alleged role in the kidnapping of four people in December 1988. The trial was adjourned until Monday to give prosecutors time to respond to the orders.
The defense asked Monday that kidnapping charges against Mandela be dropped and assault charges be considered separately. Mandela has denied allegations that she participated in the kidnapping and assault. The youngest victim, 14-year-old Stompie Seipei, was killed.
Beijing, China
Student protest leader on trial
The first of four leaders of the 1989 democracy movement charged with plotting to overthrow the Communist government went on trial yesterday in a Chinese court.
The proceedings marked a new phase in a monthlong series of trials of several dozen leading participants in the movement. Most of the others were charged with counter-revolutionary incitement and sentenced to up to seven years in prison.
*Vestday's defendant, Xian Xiaoping, 29, is one of four charged so far with sedition, a crime that was originally
University Daily Kansan / Wednesday, February 6, 1991
San Salvador, El Salvador
Soldiers shot to avoid suffering
Guerrillas who killed two U.S. soldiers after shooting down their helicopter say they did so because the men were going to suffer painful deaths from their injuries, the director of the country's leading human rights group said yesterday.
Maria Julia Hernandez of the Roman Catholic Church's Legal Aid office spoke with the two implicated guerrillas Sunday in rebel-held territory in northwestern El Salvador. She related her experiences interviews with them during a meeting yesterday with foreign journalists in San Salvador.
Achille Lauro terrorists released
Genoa, Italy
Two Palestinians convicted of helping the hijackers of the Achille Lauro cruise ship have been released from prison early and expelled by the Italian news agency ANSA reported yesterday.
The report identified the two as Mohammed Issa Abbas, a cousin of fugitive Palestine Liberation Front leader Mohammed (Abul) Abbas and Youssuf Sa'ad.
ANSA, attributing its information to the convicts' lawyer in Genoa, Gianfranco Pagano, said they were released from prison in December for good conduct after serving part of their sentence. Attempts to reach Pagano at home and his office were unsuccessful.
A wheelchair-bound U.S. citizen who was a passenger on the Italian liner, Leon Kinghoffer, was shot to death by a hijacker and his body dumped into the Mediterranean Sea during the October 1985 hijacking.
Pontiac, Michigan
A judge said yesterday that Jack Kevorkian was more interested in getting publicity than in helping the terminally ill, and she banned him from again using his drug-injecting "sucicide"
Judge bans 'suicide machine'
Oakland County Circuit Judge Alice Gilbert made permanent her earlier order that Kevon's father be discharged.
On June 4, Kevorkian helped Janet Adkins, 54,
of Portland, Ore., use his machine to inject
herself with a fatal drug dose. Adkins suffered
from Alzheimer's disease.
"As a physician, Dr. Kevorkian was morally, ethically, professionally and legally obligated to adhere to the current standards of medical practice," Gilbert wrote. Doctor-assisted suicides clearly violate those standards, she said.
In a scathing opinion, Gilbert said Kevorkian showed a pattern of seeking recognition through bizarre behavior and showed unabashed disregard and disrespect for his profession.
From The Associated Press
Bush's domestic agenda focuses on bank system
The Associated Press
WASHINGTON — The Bush administration yesterday proposed a landmark overhaul of the nation's banking system that would reduce government guarantees to depositors and break down traditional walls between banks and other businesses.
The recommendations, the centerpiece of President Bush's domestic agenda, are his administration's response to a rising tide of bank failures unrivaled since the Depression.
Prepared by the Department of the Treasury after 18 months of study, the package would put the financial system through its biggest changes in 50 years, affording nearly every U.S. citizen who
For the first time since the establishment of federal deposit insurance in 1934, government guarantees to bank customers would shrink rather than expand. The changes, however, are carefully crafted to minimize their impact on average depositors.
Individual depositors would be covered for no more than $200,000 per institution, eliminating exotic combinations of trust and joint accounts, which now enable families to insure more than $1 million. Moreover, regulators would be discouraged from fully reimburising uninsured deposits, which they have done so far in virtually all bank failures.
Longstanding laws barring commercial and industrial companies from owning banks would crumble, as would the division of banking, from the insurance and securities industries.
Customers, for instance, may be able to get a car loan, shares in a mutual fund and a life insurance policy at their bank, which could be owned by a department store chain.
The long-awaited proposals must be approved by Congress, where many legislators are wary of repeating mistakes that worsened the savings and loan crisis.
"The administration makes a mistake in proposing new and risky activities for banks before the supervisory and (deposit) insurance reforms are in place and working," said Rep. Henry B. Gonzalez, D-Texas, chairperson of the House Banking Committee.
"This is the same cart before-the-horse mentality which plagued the deregulation of the savings
Nicholas Brady, secretary of the treasury, said the reforms were a package and should not be
"Today, our banking system is under stress . . . Our banks are hampered by out-of-date laws," Brady said. "If we expect to exert world economic leadership in the 21st century, we must have a modern world-class financial services system in the U.S."
He said U.S. banks compared unfavorably with their healthier and bigger counterparts in other industrial countries. He said that only one bank, the Bank of England, has significantly improved, compared with nine U.S. banks 20 years ago.
The administration plan also would relax decades-old restrictions on interstate banking within three years, making it easier for giants like Facebook to invest in the public branchs to compete with local institutions.
It would prune a thicket of independent regulatory agencies and, in the process, give the administration more control of financial regulation.
The department postponed its proposals on curing banking's most pressible short-term problem: shoring up the industry-financed Federal Deposit Insurance Corp.
The fund has been weakened by more than 1,000 bank failures during the past six years. Bankers are debating ways to replenish it without turning to the taxpayer.
Advocates of the Bush plan say it is long overdue. Innovations in the delivery of financial services have cut banks off from some of their best customers, forcing them to make riskier loans.
Opponents, such as representatives of small banks and consumer groups, say it could lead to a dangerous concentration of financial power, depriving local communities of control of their financial institutions. They also fear conflicts of interest as commercial and financial firms merge.
Changes in the deposit insurance system are potentially the most far-reaching. After two years, the plan would limit insurance to $200,000 per year for each investment account and $100,000 for other accounts.
The department's eventual goal is to move toward a limit of $100,000 per depositor, regardless of the number of institutions used. But that limit remains 18 months and would require separate legislation
Depositors could obtain virtually limitless insurance by splitting their money among several banks. Still, it is somewhat restrictive than a traditional deposit, and it would be useful to insure up to $1.2 million at a single institution.
More significantly, the proposal would attempt to discourage regulators from bailing out uninsured depositors in most failed institutions. The idea is to give large depositors a reason to take their banks and证商 bankers into avoiding the risky investments that have gotten so many into trouble.
U.S. bank failures soared during '80s
SOURCE: Federal Deposit Insurance Corp.
Knight-Ridder Tribune News
Additional $30 billion approved for bailout by senate committee
The Associated Press
WASHINGTON — The Senate Banking Committee yesterday approved an extra $30 billion to allow the government to bail out failed banks and loan institutions over the next eight months.
That would raise to $80 billion the total of taxpayer funds authorized to pay off depositors in insolvent S&Ls. The total does not include another $47 billion the government plans to borrow to buy the assets of the failed institutions.
The $30 billion will permit the Resolution Trust Corp, a Treasury Department agency, to whose institution the Agency says when it cash out. It agreed to halt the bailout at the end of the month.
The No. 1 source of cost for $&Ls today is delay," said Sen. Jake Garn, R-Uthat, in arguing for quick action. House refusal to approve the money late last year already has cost an extra $750 million result in additional $750 million cost to taxpayers, a rate in excess of $10 million a day, he said.
government's slow pace in disposing of the more than $440 billion of assets, including loans and mortgages.
"Having this large volume of real estate and mortgages behind loans is having a hammering effect on the real estate market," Graham said.
Congress must share the blame for the slow rate of disposing of those assets because it imposed too many restrictions on sales. Sen. Nancy Kassage, R-Kan., said.
Sens. Robert Graham, D-Fla., and Richard Shelby, D-Ala., criticized what they termed the
Public Citizen, a Ralph Nader lobbying organization, said in a letter to the committee that the $30 billion authorization should be delayed until Congress found a way to require the wealthy and corporations to pay for it. Borrowing with no scheme for repaying, the organization said, would place the burden of the $&L bailout on the backs of the middle class and poor.
The Bush administration says the bailout will cost an eventual $130 billion, although the General Accounting Office, an arm of Congress, has projected a cost of up to $500 billion.
The $30 billion authorized by the Senate panel
has been approved this year by the
house. Banking Committee.
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The Question Mark poetry, performance art, music
angering reaping out of the creative mind a coffee house affair touching
Fridays Kansas Union mysterious
7:30pm Big 8 room spider
Feb 1.8,15,22 and Mar 1
SEXUAL ASSAULT
- DID YOU KNOW THAT DATATE ACQUISITIONANCE RAPE ACCOUNTS FOR 50% to 25% OF ALL RAPES?
date rape, acquaintance rape
FOR YOUR OWN SAFETY AND PEACE OF MIND, THIS IS A WORKSHOP YOU WILL HAVE ENTERED. THIS WORKSHOP IS IN HONOR OF RAPE WARMTHWORK WORK!
Wednesday, February 13, 1991
7:00-9:00 p.m.
Alderson Auditorium, Kansas Union
Facilitator: Dr. Barbara W. Ballard
Associate dean of student life and director of the Emily Taylor's
Women's Resource Center
Co-sponsored by The Morale Board Women's Issue Committee & The Emily Taylor Women's Resi-
Center, 118 Street. For more information contact Stavril Robinson at 864-3552.
MISS. STREET DELI inc.
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Have a message for your Valentine published in the Kansan
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*Kansas Union, Level 4, February 7, 8, & 11; 10am to 2pm
Place your Valentine messages through Macintosh computers at one of two locations;
- Burge Union, Level 2, February 7, 8, & 11; 10am to 2pm.
or come to the Ransel Business Office at 119
Stuffair-Flint Hall, February 4 & 11
from 5pm
Pick one of 7 designs, place and pay for your ad. It's that easy.
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Messages will cost $5/inch, and can be up to 4" tall.
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❤ **Messages** will appear alphabetically in the Kansan Feb. 14.
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