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July 19, 1979 - Image 9

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Publication:
Michigan Daily, 1979-07-19

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The Michigan Daily-Thursday, July 19, 1979-Page 9

H
to
01

WASHINGTON (AP)-The chairman
of a house subcommittee yesterday
p a e threatened to subpoena federal
documents on U.S. investments made
by oil-rich OPEC nations after the
Treasury Department declined to
rea tenu s release the information.
"We are looking to the execution of
the necessary subpoenas," Rep. Ben-
u bp o en a jamin Rosenthal (D-N.Y.) said after a
department official cited federal laws
and international considerations as
n ct reasons for the refusal.
The department fears release of the
data might cause tle nations to with,
draw billions of dollars in investments,
Wesam05EEEMS 11,,RIMNEs~mmameums

putting more pressure on the already
beleaguered dollar and on U.S. finan-
cial institutions.
THE DOLLAR HAS been dropping in
value on international money markets
for the past weeks.
A subcommittee official said no time
has been set for a vote on whether to
issue a formal subpoena.
Rosenthal's statements came after C.
Fred Bergsten, assistant Treasury
secretary for international affairs,
refused to tell the subcommittee how
much each individual OPEC nation has
invested in U.S. government securities
and in U.S. banks.

Bergsten told the committee overall
U.S. investment by OPEC nations
amounted to $42 billion-most of it in
special government securities-and
that 80 per cent of that came fron
OPEC nations in the Middle East. An(
he said the investments were expected
to rise as a result of new price hikes.
BUT HE SAID he could not release
individual data because both Saudi
Arabia and Kuwait had asked that their
investments be kept confidential.
"Don't have the secretary call us.
Don't have the White House call us. If
you don't want to give us the infor-
mation we wanted, we'll do it the
procedural way," Rosenthal said.

WeWII

amt: WOMEM

Chappaquiddick shadow still haunts Kennedy
WASHINGTON (AP) - "As long as opinion polls has dropped. The pened." War II, and a sister died in a plane
I'm in public life, I'll be asked about it," president's speech to the nation Sunday There was a party that night at a cot- crash.
said Sen. Edward Kennedy (D-Mass.) was followed by a boost in his ratings in tage on the island off the Massachusetts Those tragedies were "imposed on
yesterday, the 10th anniversary of the the polls. But Kennedy still leads Carter coast. Present were several women me. They had enormous impact," Ken-
accident at Chappaquiddick. in most surveys. who had worked on Robert Kennedy's nedy said in an interview with the
His answer varies little: "I expect the president to be 1968 presidential campaign. It was 13 Boston Globe.
"This is a tragedy that will live with renominated and re-elected and I in- months after that campaign was ended But Chappaquiddick, "this tragic ac-
me for the rest of my life. . . I assumed tend to support him." Invariably, that by an assassin's bullet. cident, which I bore the complete
full responsibility for it at the time." is Kennedy's response to the questions KENNEDY LEFT the party with responsibility for and complete accoun-
IT'S A question inevitably raised in about 1980. Mary Jo Kopechne. Moments later his tability for, had greater meaning. It
connection with Kennedy's prospects as Always in the background of the car plunged off a narrow bridge. Miss made me re-evaluate my own direction
a presidential candidate. presidential speculation is Chap- Kopechne, 28, was trapped in the and usefullness asa human being. After
"Obviously, it's a factor," he said paquiddick. Ten years have gone by - vehicle and drowned. a period of time, I made up my mind
when asked if it would be an issue if he 10 years and two presidential cam- It was 10 hours before Kennedy that there was no turning back in life."
ran for the White House. paigns. reported the accident, an action he
With President Carter's ad- later called "indefensible." KENNEDY rejected the argument
ministration shaken by domestic WHEN ASKED to recall details of the In several interviews timed to the an- that the accident demonstrated an
problems, inflation, and the energy night of July 18, 1969, Kennedy refers niversary of the accident, Kennedy inability to function well under stress.
crisis, and with the Carter Cabinet and questioners to the transcript of the talked about the accident and its effect
White House staff offering their inquest. on him. "The exhaustion surrounding
resignations, speculation about a Ken- "I testified six months after the ac- THERE HAVE been many tragedies that ... the sense of loss, the disorien-
nedy candidacy in 1980 accelerates. cident under oath," he says. The tran- in his family. Two brothers, John and tation, the trauma of that accident does
IN FACT, such speculation has been script runs more than 700 pages. "That Robert, were the victims of assassins, not, I think, relate to public policy
constant as Carter's standing in public remains the best account of what hap- another brother was killed in World questions.
Panel finds IvFIT y USICAL G0CIETY presents
oi firms
did not

create oil
shortage'
WASHINGTON (AP) - Government
investigators have decided that oil
company executives did not
deliberately create the current gasoline
shortage, an informed administration
source says.
The official, who declined to be iden-
tified, said this is the conclusion of an as
yet unreleased report by investigators
of the Justice Department and Energy
Department.
While the report will say that oil
companies may have held too much oil
out of production, government in-
vestigators have found no evidence of
deliberate company actions to create a
shortage, the official said.
PRESIDENT Carter mentioned the
investigation in a speech Monday in
Kansas City, listing the probe as one of
the administration's actions to protect
the public from price-gouging.
The investigation has been under way
for several months, and the official said
several drafts of its findings are being
reviewed.
IN EARLY June, Energy Secretary
James Schlesinger said refiners. ap-
peared to be "unduly conservative"
about taking crude oil out of their
stockpiles for use in increasing the
refinement of ga*gliqe, heating oil and
Qth" w rducts. .- t

GUSTAV
LEON IARdT,
IIARpSIC [ORd i sT __
Widely regarded as one of the finest
harpsichordists in the world this

Dutch virtuoso brings a vibrancy to
early music that makes it as alive
as anything written today!
His 8:30 recital feats- is the music
of Balbastre, Scarlot, and J.S. Bach
Tickets are $4, $5.50 and $7 at
Burton Tower, weekdays 9-4:30, Sat.
9-12 or at the box office after 7 p.m.
on the evening of the recital.
Telephone: 665-3717.

4 jI ,

MONdAy, July 23Rd
RACkJAM AudiTORiuM

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