10 - The Michigan Daily - Wednesday, January 18, 1995 Chechen officials agree to proposed truce with Russia, Los Angeles Times MOSCOW-Raising hopes that the mass bloodshed in Chechnya could end as early as this evening, two high-level Chechen offi- cials agreed yesterday to a truce proposed by Russia's prime minister as a way out of what has become a Russian national tragedy. But Kremlin insiders immediately cast doubt on whether the officials, who planned to report back to Chechen President Dzhokar Dudayev, could actually guarantee that the defiant fighters in the breakaway Muslim republic would lay down their weapons. "Judging by the emissaries that Dzhokar Dudayev has sent to Moscow, it is clear that he does not control the situation in the repub- lic," said Kremlin Chief of Staff Sergei Filatov. An attempt at a cease-fire last week broke down less than two hours after it began - in part, it appeared, because word that the fight- ing was to stop did not reach combatants. However, the truce agreement did appear to be an indication that Prime Minister Viktor S. Chernomyrdin, seen as one of the more dovish members of the Kremlin inner circle, was taking on more control of Russian policy on Chechnya. Chernomyrdin had proposed an extensive cease-fire, including a ban on artillery shell- ing and troop movements, in a nationally televised address Monday night, then fol- lowed it up at a meeting with Chechnya's chief prosecutor and justice minister yester- day. "It can be said that beginning (tonight) evening, the fightingwill be stopped," Chechen Chief Prosecutor Usman Imayev, told report- ers. If the cease-fire does take effect, it could let President Boris N. Yeltsin step back from what has become a military disaster for Rus- sia. Although the official death toll among Russian soldiers in Chechnya is only about 500, Parliament defense experts put the figure at closer to 3,000, and hundreds if not thou- sands ofcivilians are said to have died as well. The expense of the offensive, launched on Dec. 11 when up to 40,000 Russian troops moved into Chechnya to break its bid for independence, threatens to bust this year's national budget and hurt market-oriented re- forms. The widespread killing of Russia's own citizens has damaged Moscow's foreign relations, tarnished the military's image and brought outraged protests from human rights groups. The intense bombardment of Grozny, the Chechen capital, continued yesterday as Rus- sian troops maintained their campaign to take over the city center. A tri-color Russian flag was reportedly on its way to Grozny, to be planted atop the nine-story presidential pal- ace, seat of-the rebel government, in place of the green Chechen flag that has been flying there. . But Chechen militants still reportedly con- trolled the palace last, and the Interfax news agency said that Chechen snipers and gre- nade-launchers there kept the Russian troops at bay. It said Chechen military leaders acknowl- edged that they had taken to executing Rus- sian scouts they caught. The Chechens told Interfax that the fight- ing in general in Grozny had grown much more cruel. U Ex-Orange County treasurer blames bosses SACRAMENTO, Calif. (AP) - His bosses paid little attention to the way he invested their money and he made little effort to tell them before Orange County went into bankruptcy, its former treasurer said yesterday. Robert L. Citron's history of lu- crative investing of public funds had made him a hero to the nation's fifth- largest county and to 186 government entities that pooled their money in the investment fund he managed. But Citron's plunge into heavy borrowing from brokers to purchase risky securities resulted in a $2 billion loss and led to the fund's bankruptcy last month. The mess focused atten- tion on the investment practices of officials entrusted with public funds. In his first public remarks about the disaster, Citron testified before a state Senate committee yesterday that there was virtually no oversight of his activities. He never relayed to county supervisors warnings in 1993 about his portfolio from Merrill Lynch & Co., his chief broker, or told the su- pervisors of a 1994 inquiry by federal regulators, he said. "I was so sure of what I was doing based on the many years of success I had," Citron told the Senate Special Committee on Local Government In- vestments. "In retrospect, I find that I was not the sophisticated treasurer I said I was," he said. Citron testified under oath but without a promise of immunity against prosecution. Merrill Lynch, the nation's larg- est brokerage firm, remained above the financial scandals of the 1980s but has come under scrutiny in the Orange County case, with questions about whether star municipal invest- ment salesman Michael Stamenson improperly pushed risky strategies on Citron. The former treasurer said yester- day that pressure from the county supervisors and Merrill Lynch sales pitches led him to make the high-risk investments. Even as Merrill Lynch warned Citron that rising interest rates could torpedo his fund, it continued to sell him interest rate-sensitive securities and provide him with some forecasts of lower rates by its top analyst, Charles Clough, Citron said. Merrill Lynch, which made more than $100million in the 1993-94year selling securities and underwriting municipal bonds for the county, has portrayed Citron as a sophisticated investor who would simply give his business to others if Merrill threat- ened to cut him off. Paul Critchlow, a Merrill Lynch spokesman, said Citron lobbied suc- cessfully to pass many laws easing restrictions on investments made by municipal treasurers around the na- tion and showed an understanding of the complexity of arcane derivative securities in reports and letters. Critchlow said Citron had de- scribed developing software to moni- torcomplex investments and had criti- cized San Jose officials for a similar investment loss, blaming them instead of Merrill Lynch. "He can't say all those things and then say he was unsophisticated and was led down the garden path by Merrill. It just doesn't wash," Critchlow said. The Orange County fund was brought down by sharply rising inter- est rates, heavy demands by brokers for more collateral and some inves- tors deciding to redeem their hold- ings. " WE'LL GIVE YOu10 WEEKS. Ten weeks may not seem like much time to prove you're capable of being a leader. But if you're tough, smart and determined, ten weeks and a lot of hard work could make you an Officer of Marines. And Officer Candidates School (OCS) is where you'll get the chance to prove you've got what it takes to lead a life full of excitement, full of challenge, full of honor Anyone can say they've got what it takes to be a leader, we'll give you ten weeks to prove it. Marine-resa Tre Fewi: The Pivu~rd.7The Aannes Capt. Conley and Capt. Hitchcock will be handing out more information and answering questions on Marine Corps Officer Programs at the EECS Bldg. Atrium on North Campus from 9:00 a.m. - 3:00 p.m. on January 18, 1995. If you are interested please come by, or call 1-800-892-7318. Semper Fi! The Office of Academic Multicultural Initiatives is now taking applications for Student Program Hosts positions for the King/Chivez/Parks College Day Spring Visitation Program Student Program Hosts' responsibilities include supervising and developing work schedules for teams of student leaders who will work with students from middle schools visiting the University during KCP College Day Spring Visitation Program. Applications and job descriptions can be obtained at The Office of Academic Multicultural Initiatives 1042 Fleming Building, first floor. For additional information contact Felton Rogers at 936-1055 The Young Women's Health Project II The Young Women's Health Project University of Michigan Medical Center FEMALE VOLUINFERS NEEDED lw The Young Women's Health Project is conducting an ongoing, federally-funded study of nutrition and its impact on menstrual function. Subjects are needed who have experienced or are regularly engaged in any of the following behaviors: " binge eating . intense dieting or fasting * vomiting or other types of purging If you are interested, and you are a sophomore woman, you may be eligible to participate. For further information, please contact Eva Rosenwald, Project Coordinator at 936-4867. All subjects will be paid for their participation in this project. 0 0 >PF "All r9" 'v