"Our Mom and Dad Got Their
Mortgage At World Wide Financial!"

was doing, the officials said.
The Dotan case reinforced
concern among American of-
ficials that foreign military
contracts were not being
properly monitored.
Partly as a result of this
concern, the Pentagon an-
nounced earlier this year
that, as of January, it would
end the commercial sales
channel of the Foreign
Military Financing pro-
gram, under which Israel
buys a substantial part of its
equipment.
Currently, some recipients
of Foreign Military Financ-
ing, such as Israel and
Egypt, buy through one of
two channels.
In the government
channel, the United States
buys items on behalf of the
recipient. The alternative is
the commercial channel, in
which the foreign govern-
ment engages in direct
commercial contracts with
suppliers.
But at the hearing, Glenn
Rudd, deputy director of the
Defense Security Assistance
Agency, said that the cur-
rent system would be ex-

The Pentagon will
end its commercial
sales channel with
the Israeli military.

tended an additional six
months until July 1, 1994,
while the parties affected by
the changes continued to
discuss the issue.
The Israeli government
had expressed concern about
the elimination of the com-
mercial sales channel be-
cause of "its extensive
reliance on this channel to
meet its procurement
needs," Mr. Rudd said.
Israeli officials said that
since the Dotan affair, Israel
has been working to lessen
the amount of its military
purchasing done through
commercial channels.
Israel now assigns a
higher priority to the
government-to- government
channel, which currently ac-
counts for two-thirds of
Israeli military purchasing,
the officials said.
The largest recipient of
U.S. foreign aid, Israel
receives $3 billion a year of
which $1.8 billion is in for-
eign military sales.
The highly technical hear-
ings also looked at the role of
another defense contractor,
National Airmotive
Corporation, in the Dotan af-
fair.

❑

MICHIGAN'S LEADER IN MORTGAGE LENDING

The Best Mortgage Rates...

• Loan sizes to 1.5 million. • No-documentation loans available.
• Convenient applications via lap top computer in your home office.
• Special programs available for "bruised credit" applicants! • We close loans FAST!

co
a)
a)

Period

WORLD WIDE FINANCIAL SERVICES - CALL 647-1199

555 S. Woodward • Fifth Floor • Birmingham, MI 48009

LO

CC
LLI
CO

2

LLJ

53