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Politics : Clinton -- doomed & wagging, Japan collapses, Y2K bug, etc -- Ignore unavailable to you. Want to Upgrade?


To: SOROS who wrote (188)9/10/1998 8:47:00 AM
From: SOROS  Respond to of 1151
 
South China Morning Post - Hong Kong - 09/09/98

STAFF REPORTERS and Agencies

Financial Secretary Donald Tsang Yam-kuen yesterday called on governments worldwide to unite to devise a plan to crack down on international speculation.

The call mirrors a similar plea by Malaysian Prime Minister Dr Mahathir Mohamad at last year's World Bank/IMF Conference in Hong Kong - widely ridiculed at the time.

Mr Tsang said: "We believe there has to be some discipline - universally agreed, internationally agreed - discipline in regulating the flow of funds which are used for speculative purposes of this kind.

"We have been advocating this and so many countries, in Asia, for that matter are advocating this and so is the IMF," he said.

"The permanent solution does not entirely rest with Hong Kong," he said, adding that the Government was not preparing any further measures to force "manipulators" out of the market.

Mr Tsang's comments - made on RTHK - came the day after he unveiled sweeping plans to deter speculative activity in the stock, futures and currency markets.

The 30-point package - the second series of measures in three days - were aimed at tightening regulation and disclosure, mainly of short selling, and included stiff penalties for violators.

The Government also plans to study whether legal changes are needed to give Chief Executive Tung Chee-hwa greater powers over the stock and futures exchanges in times of crisis. Mr Tung denied the
proposed changes would make him an "overlord".

He said the measures were needed, because market conditions changed very quickly and a mechanism was needed which allowed quick reaction.

"I'd only use the powers in an emergency and absolutely not in normal times," Mr Tung said.

Mr Tsang said it was right that the Chief Executive should have the "residual power" to give direction to the exchanges and clearing houses.

Mr Tsang said these and other measures already announced would help reduce the need for further intervention in the SAR stock market - the world's fifth-largest - although he would not rule out more
government buying.

Critics within the financial industry have accused the Government of increasing its authority over the financial markets at the expense of the Securities and Futures Commission, the futures exchange and the stock exchange.

Brokers estimate authorities may have used up to $100 billion in its intervention.



To: SOROS who wrote (188)9/10/1998 8:54:00 AM
From: SOROS  Respond to of 1151
 
Westergaard 2000 Site - y2ktimebomb.com

Dancing On the Rim of the Canyon

Here's a riddle: Can the power grid be both robust and fragile plus both resilient and brittle? The answer is yes. Today's column tries to explain how this can be true, and how it relates to Y2K.

It sounds like double talk to say that the grid is robust, and also that, "a tree branch caused the 1996 blackouts." If you think we speak in double talk regarding past events, you'll be less likely to believe
what we say about the future. Therefore, it's important to give a proper explanation.

1994 - Grand Canyon, Arizona: A few years ago I visited Grand Canyon with my Dad. At sunset we were standing on one of the lookout points with lots of other tourists enjoying the scenery. Two men appeared.
Both were stinking, falling-down drunk. One of them jumped over the railing, fell, and rolled toward the rim of the canyon. Everyone gasped. At the last moment, he stopped right on the rim. What happened next was astounding. He stood and started dancing on the rim of the canyon. I didn't have the stomach to watch a man die so I left.

That night I dreamt that the man slipped on a pebble and fell, and that the Flagstaff newspaper reported the headline as "Loose Pebble Kills Local Man."

1996, California: In 1996, two regional blackouts troubled 12 western states and provinces. It was widely reported that it was only a tree branch growing too close to a wire that caused one of the blackouts.
Today, that fact is used as evidence that the power system is actually very brittle, and that any trivial Y2K failure could cause a big blackout.

It was a period of power shortages in southern California, and power surpluses in the Northwest. The price differential made it very profitable, and very humane, to transmit every watt possible north to south. The utilities operated as close to the rim as they prudently could. Unfortunately, they estimated incorrectly where the rim really was so they weren't as prudent as they thought. They fell off the rim.

The rim of this electrical canyon isn't something you can see. It's just a metaphor for an abstract limit. Its shape is irregular, with lots of ins and outs. Its true position and shape can only be predicted by mathematical modeling.

Here's the real story about the Western States Blackout. Over a period of years the utilities got sloppy with the data used in their mathematical models. The model's accuracy deteriorated, and the rim wasn't where they thought it was. Given that state of affairs, all that was needed to trigger a collapse was a branch, or a squirrel, a raindrop, or a sneeze.

Now you understand how some of the headlines which said, "Tree Branch Causes 12 State Blackout", can be absolutely true, yet terribly misleading.

Back to Y2K: There are two ways to cause catastrophic failures in highly redundant systems, rim dancing and common mode failure is the other. This statement applies to many redundant, highly reliable systems, not just the power grid.

What is a common mode failure? Many airliners have four engines because the chance of independent failures in all four at the same time is increasingly small. However, if there's a common mode such as no
fuel, then all engines could stop at once because of the same reason. Redundancy is no defense against common mode failures.

There have been four really important blackouts in the 110-year history of the electric utility industry. Dancing too close to the rim caused two of them, the 1996 Western Blackout just discussed, and The
Great Northeast Blackout of November 1965. In 1965, we knew much less than today about the canyon or where the rim might be, or how steep the slope.

The other two, caused by common mode failures, were the 1977 New York City Blackout and the 1998 blackout in Auckland, New Zealand. Weather was the primary common mode in both.

In 1977 thunderstorms knocked out one heavily loaded transmission line importing power from outside the city, then another lightning strike, then another. After that things started cascading on their own. The common mode was weather.

The Auckland blackout was similar in some ways. Four big underground cables supplied the city's electric system. One cable failed, then another, then things started cascading. The common mode was hot dry weather plus the age of the underground cables.

In both the NYC and Auckland cases, the utilities could have been more cautious and may have been closer to the rim than they should have been. However, I think it is fairer to say that their real error was to incorrectly decide that the chances of certain events were negligibly small.

It used to be hard to think of real life examples of common mode failures because they were so rare. Well, we don't have that problem any more because there presently exists one that is ubiquitous to every power plant. You guessed it ...Y2K. Y2K is the mother of all common mode failures. All those devices from all those years by all those vendors and what do they have in common? Time. Common mode
failures used to be an advance concept that many engineers didn't understand. After 2000-01-01 it will be ordinary talk in the local coffee shop.

Without the common mode, what would the chances be of 100 million computer failures occurring independently on the same day? Unthinkable; right? Right, but only unthinkable if we assume that no
common modes exist.

Designers detest the common mode failure problem. Not only can it spoil the seemingly great reliability of the redundant systems they design, but also because they can never be certain that a common mode
problem was not overlooked. It's one of the classical impossible problems ... proving a negative. All the king's horses and all the king's men can never be sure that no common failure modes exist.

Explanations are nice, but what can we learn from this about how to act in the near future? Well, in addition to fixing the bugs, we make sure that on 2000-01-01 we're not dancing anywhere near the rim.

Operating conservatively, well away from the rim, will have costs we'll have to pay. If there's a shortage in Southern California, for example, we might decline to ship them power needed to help. We can bring mothballed power plants out of retirement. That would be expensive, but it will increase generating margins. We can cancel vacations, and call in all the extra help we can. We can make sure that every power plant and every transmission line and every other critical component is operating at considerably less than 100% of its maximum capacity. We can pre-start all the backup auxiliary generators.

We can warn people to stay away from elevators and amusement park rides or other optional activities, where safety could be compromised by a power interruption. We can inform people in cold parts of the
country where they can go to find shelter and heat if their home loses power. We can advise against large-scale millennium celebrations in urban centers, or in penthouse suites.

If we can get far enough back from the rim, and don't dance, then our chances for avoiding or reducing the negative consequences of Y2K can be improved a lot.

By the way, I don't mean to excuse the corporate responsibility failures that led to the four blackouts mentioned. However, I want you to understand that human screw-ups can never be totally eliminated.
That's why I wrote in an earlier column that prudent power customers should be prepared for a regional scale blackout, of duration 24-72 hours, Y2K or not. I wouldn't be surprised if that advice is still valid in the year 3000.

Past & Future Columns I get a lot of mail saying, "Yes, but did you consider ..." There are far too many things to consider for a single week's column. If you're new here, I recommend catching up on the
previous columns in the series that started 1998-06-26. See the PP archive. Also, here's an advance peek at some subjects for future columns.

EMS/SCADA nuclear backing away from the rim interconnection, islanding and security power quality customer contributions to Y2K problems triage testing information to the public Y2K problems in 1999
the Infocast Y2K Conference product review - Plan Ahead some positive benefits of Y2K the ripple effect why do we have these computers if we can get along without them

CORRECTION A couple of readers tell me I was wrong about all nuclear plants having black start capabilities. Some plants, notably Pressurized Water Reactors, have such big pumps that the diesel
generators that are there aren't big enough to start them without outside help. I don't have an actual count of how many can do black start or not. Nevertheless, other points in the column remain valid,
especially the title. We CAN restart the grid after complete blackouts.



To: SOROS who wrote (188)9/10/1998 9:03:00 AM
From: SOROS  Respond to of 1151
 
How will America (make that Europe, Canada, etc., etc., etc.) handle TRUE hardship? Will everyone work together? Will the able care for the unable? What kind of people have we become? Are we more like the early settlers, or are we more like the cities God destroyed? You be the judge:

Rocky Mountain News - 07/08/98

By Cathy Cummins Rocky Mountain News Staff Writer

Free Beanie Babies led to a free-for-all at the All-Star Game Tuesday.

The Beanie Baby mania created a mob scene at the main entrance to Coors Field.

About 50,000 limited-edition Glory Beanie Babies were handed to fans as they passed through the turnstile, each with a card certifying it was received at the All-Star Game.

And just beyond the entrance, parents, friends and grandparents offered quick cash -- the going rate was about $100 -- to anyone willing to part with their newly acquired red, white and blue bear-like creature.

Denver police tried to sweep the crowd from the entrance, but lines of ticket holders backed onto the Blake Street sidewalk as people tried to shove beyond the instant Beanie Baby marketplace.

"I had four different offers as high as $250 just coming to my seat," said Hall Hosler as he wolfed down a hot dog on the first level, his Beanie Baby tucked securely into his pocket.

Selling wasn't an option, he said.

"My wife told me don't come home unless you bring the Beanie Baby," Hosler said.

That attitude made it difficult for a woman who identified herself only as Andee of Brooksville, Fla., who wanted five Beanie Babies for her nieces and friends.

"We're offering $50 and people are just laughing at us," she said. "This is crazy. People are paying too much. There's 50,000 of these things."

But the lesson in collector mania turned sour about 6 p.m. when the Beanie supply at the main gate ran out. Ticket holders mobbed volunteers handing out the last Beanie Babies, then shouted at police.

"I've been a season ticket holder since 1994, and my wife and children want a Beanie Baby," Bill Ambron of Littleton said angrily.

Ambron's anger subsided about 20 minutes later when the Beanies returned to the main gate -- handed out under police protection.

"Yeah, I know it's crazy, but it would have been worse if I hadn't come home with one," Ambron said.

Staff writer Carla Crowder contributed to this story.




To: SOROS who wrote (188)9/10/1998 9:08:00 AM
From: SOROS  Respond to of 1151
 
David Wilkerson - Pastor of Times Square Church - Author of the "Cross and the Switchblade" Pulpit Series - March 30, 1998

God promised the prophet Zechariah that in the last days, he would be a protective wall of fire around his people: "For I, saith the Lord, will be unto her a wall of fire round about." (Zechariah 2:5).

Likewise, Isaiah testifies: "For thou hast been a.shadow from the heat, when the blast of the terrible ones is as a storm against the wall" (Isaiah 25:4). "There shall be a tabernacle for a shadow in the
daytime from the heat, and for a place of refuge, and for a covert from storm and from rain" (4:6).

These promises are meant to comfort us beforehand - because all the prophets warn of a great storm coming in the final days, which will beat against God's wall of protection with ferocity!

Indeed, Jesus says this coming storm will be so frightful and overwhelming, people's hearts will fail them as they see it developing (see Luke 21:26). Now, if Jesus says this storm is going to be ferocious we know it will be an awesome moment in history. Yet, the Bible assures God never sends judgement on any society without first revealing to his prophets what he plans to do. "Surely the Lord will do nothing, but revealeth his secret unto his servants the prophets" (Amos 3:7)

Moreover, God is faithful to speak in times of prosperity, just before the fury of his judgement strikes. While the storm clouds are still gathering, he raises up prophetic voices all over the land. And, according to scripture, whenever a sinful nation was prosperous and at peace, God told his prophets to warn the good times soon would end: ".the Lord hath cried by the former prophets, when Jerusalem was
inhabited in prosperity."

Beloved, God has judged every past society for lesser sins than America's.

Consider this: ú No other nation has killed more babies than the United States has through abortion. Souls cries out with the blood of these children! We'd rather save the life of a whale then one of our own babies. ú America has the world's highest rate of illegitimate pregnancies. ú Teenage crime in this country is the highest in the free world. ú American's now spend more money on dog food than on foreign missions. ú We have begun to glorify homosexuality and lesbianism. Our media applauds the "bravery" of gays who declare their sexual orientation - but we ought to weep over it! TV's "Ellen" was hailed as a heroine when she came out of the closet on national television. Yet at one time, Christians across the country would have been on their faces crying out to God for mercy over such immorality. ú Network newscasts showed images of half-naked gay woman in Florida celebrating "Lesbian Pride Week." An estimated 30,000 woman gathered to indulge in drunken orgies all night long for a whole week. And local officials applauded it saying "It's wonderful that they're all together here." But it must have been breaking God's heart! Radical homosexuals cry out to society, " In your face!" Yet what they're really saying is, "In your face, God!" ú America has brazenly kicked God out of its schools and courts. Now there's even a movement to remove his name from the Pledge of Allegiance and from all U.S. Coins. People no longer want to hear even the mention of His name. ú Fifty million Americans now smoke pot, and millions more are hooked on heroin, crack and other drugs. ú Our schools have become bastions of blasphemy and agnosticism. Our children have been robbed of all moral standards, denied all access to God - and they're reacting by becoming more violent and rebellious.

Beloved, God destroyed Noah's generation, as well as Sodom's, all for lesser sins than ours. What arrogance to think that while these societies were judged severely, we might be spared.

Very soon, America is going to wake up to a sudden news report of calamity - and the storm will be upon us suddenly!



To: SOROS who wrote (188)9/10/1998 9:11:00 AM
From: SOROS  Respond to of 1151
 
Wall Street Journal - 09/10/98

By JOE REBELLO Dow Jones Newswires

WASHINGTON -- U.S. Deputy Treasury Secretary Lawrence Summers warned Asian countries against drawing the wrong conclusion about free-market capitalism, saying that countries that reject the international financial system hurt "their own citizens most of all."

"It would be a catastrophe if countries were to develop the idea that somehow withdrawing from the global system was right and that building the foundation for a market economy was wrong," Mr. Summers said in a speech to bankers and government officials from 62 countries.

"Countries that choose to embrace unilateral action as a substitute for reform and cooperation hurt the world system and, by severing ties to world markets, hurt the prospects of their own citizens most of
all," Mr. Summers said, obliquely referring to Malaysia's abrupt imposition of controls on the flow of money across its borders.

Addressing the new global interest in using various forms of controls to contain the current financial crisis, Mr. Summers acknowledged that unfettered flow of capital in countries that lack strong financial-supervision systems can be dangerous. "We have seen in recent months in Asia ... the danger of opening the capital account when incentives are distorted and domestic regulation and supervision is inadequate," he said. But the proper response to the danger should be strengthening supervision systems rather than curbing capital flows, he said.

As other economists have, Mr. Summers distinguished between different sorts of capital flows. "Inflows in search of fairly valued economic opportunities are one thing and a good thing," he said. "Inflows in
search of government guarantees under the belief that they are immune from standard risk are quite another."



To: SOROS who wrote (188)9/10/1998 9:13:00 AM
From: SOROS  Respond to of 1151
 
Wall Street Journal - 09/10/98

By JACOB M. SCHLESINGER Staff Reporter of THE WALL STREET JOURNAL

WASHINGTON -- When a country suffers from recession, a common treatment involves cutting official interest rates in hopes of spurring greater borrowing, investment and consumption. That's what the Bank of Japan tried Wednesday.

But sometimes, a nation's economy and financial system are so sick that conventional links between monetary policy and economic activity are damaged. Many economists think Japan is in just such a shape now. And that's why Tokyo's move -- its first rate cut in three years -- generated so little hope around the world that Japan's economy was any closer to recovery.

"It's a policy that's bankrupt," says Catherine Mann, a former international economist at the Federal Reserve and now a senior fellow at the Institute for International Economics. "They've had the lowest
interest rates in the world for five years, and there's been no incentive for increased capital formation. Why is another quarter-point going to do anything?"

'Liquidity Trap'

Many economists think Japan has now fallen into a "liquidity trap," a bind no major economy has seen since the 1930s. In that state, interest rates hover near zero, but demand remains stagnant. There is no room to cut rates more. Another frequently invoked image compares monetary policy's impotence to "pushing on a string."

How does that happen? Government interest rates affect the economy through the banking system; lower rates are supposed to encourage private banks to borrow more, then lend more to companies and
consumers. But in Japan today, as in the U.S. more than 60 years ago, that mechanism has broken down.

"The banks are distressed, and even if the cost of borrowing funds is very low, almost zero, banks will be reluctant to borrow in order to lend," says Barry Eichengreen, an economic historian at the University of California at Berkeley. "The Bank of Japan now faces a similar problem the Federal Reserve faced in the 1930s."

More broadly, a prolonged recession like the one Japan now suffers can so damage consumer and business confidence that people won't spend regardless of rates. "The only way in which this rate cut can have a big impact on the market in Japan is by changing expectations," says Ms. Mann. "But I would say that, if anything, the expectations are for more really bad news."

Breaking Out

That doesn't necessarily mean that Japanese policy makers have their hands tied. In the 1930s, the Fed helped break out of the trap by going beyond mere rate cuts and printing more money, going around the
banks and literally flooding the economy with new liquidity. Massachusetts Institute of Technology economist Paul Krugman has been urging just such a strategy for Japan for months. While he
acknowledged that Wednesday's rate cut "isn't going to do anything by itself," he said the change "maybe serves as a signal that their commitment to monetary rectitude will be weaker in the longer run."

Others say that massive fiscal stimulus could help, an approach the U.S. also invoked in the 1930s and, more definitively, in the 1940s, with the massive military spending of World War II.

Most analysts remain confident that Japan's troubles are unique. Investors assume that a rate cut in the U.S. would do wonders to stave off a recession. That's why the Dow Jones Industrial Average soared
Tuesday on the mere hint by U.S. Fed Chairman Alan Greenspan that he might ease monetary policy.

But some economists fear that Japan is experiencing a new version of the 1930s liquidity crisis that may become more typical in the world economy. "That's what scares me," says Mr. Krugman, who notes that
conditions creating extreme consumer and business caution in Japan -- an aging population and assumptions of low or falling prices -- exist in other advanced economies as well, notably in Europe.

One reason the world has gone so long without a liquidity trap, says Mr. Eichengreen, is the tight financial regulation that followed the Great Depression, controls that have since been eased around the
world.

"The possibility of a large-scale banking crisis was suppressed for decades after World War II," he says. "We've reaped many of the benefits of liberalization, but those benefits come with a dark side, and we're now seeing that in Japan."



To: SOROS who wrote (188)9/10/1998 9:14:00 AM
From: SOROS  Respond to of 1151
 
Wall Street Journal - 09/10/98

U.S. Stumble, Profit-Taking Pressure Asian-Pacific Stocks

Share prices slumped across Asia Thursday, as profit-taking and Tuesday's decline on Wall Street weighed on the region.

On Wednesday, the Dow Jones Industrial Average fell 155.76, or 1.94%, to 7865.02, on a day punctuated by worries about President Bill Clinton's future and about financial troubles in Japan and Latin
America.

The U.S. losses pressured shares in Australia, the Philippines and Taiwan. Profit-taking in electronics and financial shares dragged down shares Taiwan.

Tokyo stocks fell despite the Bank of Japan's decision late Wednesday to ease monetary policy for the first time in three years.

The central bank cut its average overnight call rate to 0.25% from just below 0.50%, in an effort to keep the country's economy from slipping into a deflationary spiral. But market participants said the rate cut wasn't nearly enough to offset worries about Japan's troubled banking system. Traders also are closely watching deliberations in Parliament over bills to revive Japan's financial industry.

"Getting action on banking reform is much more important than a small rate cut," said Keiko Kondo, a strategist at Merrill Lynch. The ruling Liberal Democratic Party and the opposition remain deadlocked over legislation to restructure the banking system.

Meanwhile, speculation that the U.S. may also cut rates and uncertainty about President Clinton's political future spurred a sell-off in the dollar, traders said. Independent Prosecutor Kenneth Starr delivered to Congress a report on his investigation into Clinton's admitted affair with a former White House intern.

Elsewhere, Hong Kong's Hang Seng Index slipped in cautious trading. Shares on the Korea Stock Exchange closed mixed, but the key index soared 3% near the end of the day's session as investors bought a massive amount of stocks in the spot market to settle their September futures contracts.

Singapore and Malaysian shares came under pressure from profit-taking. Investors in India also moved to lock in some gains. Thai stocks jumped late in the session amid a large purchase of shares of Thai International Airways.

Buying in cement shares helped buoy Indonesian stocks amid continued fears about the domestic political situation.

In dollar terms, the Asia-Pacific sector of the Dow Jones Global Indexes rose 0.26 to 67.68 around 6 a.m. EDT Thursday, after falling 2.25 Wednesday. The Dow Jones World Stock Index shed 0.42 to 171.26, after falling 2.89 the previous session.

Asian Stock Market Indexes Market Index Sept. 10 Change Australia All Ordinaries 2526.30 - 0.64% China DJ China 88 132.57 + 2.11% Hong Kong Hang Seng 7849.96 - 0.70% India Bombay Sensex 3110.53 + 0.43% Indonesia JSX Index 327.271 + 0.46% Japan Nikkei 14666.03 - 0.61% Malaysia KLSE Composite 380.20 - 2.43% Philippines PSE Index 1100.17 - 4.95% Singapore STI 865.00 - 2.31% S. Korea Korea Composite 338.95 + 2.96% Taiwan Weighted 6803.83 - 1.32% Thailand SET 218.91 + 2.30%



To: SOROS who wrote (188)9/10/1998 9:18:00 AM
From: SOROS  Respond to of 1151
 
Associated Press - 09/10/98

WASHINGTON (AP) -- Thrust into the first presidential impeachment case since Watergate, the House is moving rapidly to release some of the ''substantial and credible'' information gathered by prosecutors
against President Clinton.

A day after Independent Counsel Kenneth Starr surprised Congress and the White House by delivering 36 boxes of impeachment material to the Capitol with extraordinary security, lawmakers planned today
to finalize arrangements to make at least 445-pages public Friday. The information would be posted on the Internet.

Sources familiar with the report said it lays out evidence of alleged obstruction of justice, perjury and abuse of power by Clinton in his effort to conceal his affair with Monica Lewinsky -- in the Paula Jones sexual harassment lawsuit against the president and the subsequent criminal investigation. The sources, who spoke only if not identified, were not more specific.

Clinton's personal attorney, David Kendall, immediately went before microphones Wednesday at the White House to insist, ''There is no basis for impeachment.''

But Starr spokesman Charles Bakaly told reporters the independent counsel had turned over ''substantial and credible information that may constitute grounds for impeachment of the president of the United States.''

When the Starr material arrived at the Capitol, Clinton was in Florida for two fund-raisers, assuring key supporters that he is contrite and willing to do what it takes to weather the controversy, aides said.

Now facing the gravest challenge in a career of political crises, Clinton planned to meet today with Senate Democrats and his Cabinet.

Following a dizzying series of meetings among House members Wednesday, much remained unsettled on how lawmakers would proceed. Republicans balked at Democratic requests that the White House be
given a day or two to review the Starr material and respond.

''The Democrats on the Judiciary Committee feel this is important as a matter of basic fairness,'' said a Democratic committee official who spoke on condition of anonymity. ''I don't think we're going to win the fight.''

Discussions also were under way on whether to quickly make public some 2,500 pages of backup material Starr gathered in his grand jury inquiry, said Rep. Gerald B. Solomon, chairman of the House Rules Committee and a key Republican negotiator.

But Starr cautioned in a letter to House leaders: ''Many of the supporting materials contain information of a personal nature that I respectfully urge the House to treat as confidential.''

Other unresolved matters include how much authority Judiciary Committee Chairman Henry Hyde, R-Ill., should be allowed to wield without Democratic consent, and a timetable for determining whether Starr's report warrants a full-scale impeachment inquiry by the House.

The 445 pages include a 25-page introduction, a 280-page narrative and 140 pages detailing grounds for possible impeachment, Solomon, R-N.Y., said.

Solomon told reporters he recommended to colleagues that a Judiciary Committee review of the material be completed this year, possibly before the November election. If need be, the House could recess when
legislative business is completed for the year and return to vote on conducting a full impeachment inquiry next year, he said.

However, the new Congress seated in January would have to reconfirm any decision to move ahead.

Republicans and Democrats alike emphasized repeatedly Wednesday their wish to keep politics out of the serious issue of impeachment. However, Solomon said, ''Some would like to stonewall on both sides'' of the political aisle.

Only one president -- Andrew Johnson in 1868-- has been impeached by the House, and he was acquitted by a single vote in a trial in the Senate. In 1974, Richard Nixon stood on the brink of impeachment over the break-in at Democratic Party headquarters at the Watergate, but he resigned before any votes were taken by the full House.

Watergate has cropped up frequently in recent weeks as House lawyers studied precedents in anticipation of Starr's report. And in a speech in the Senate on Wednesday, Sen. Robert Byrd, D-W.Va., accused Clinton of handling the current scandal as ineptly as Nixon did his.

''We seem to be living history over again,'' said Byrd, who long served as his party's leader in the Senate. ''Time seems to be turning backward in its flight. And many of the mistakes that President
Nixon made are being made all over again.''

Starr's grand jury has questioned numerous witnesses since January, when a former colleague of Ms. Lewinsky, Linda Tripp, precipitated Starr's inquiry by providing prosecutors with taped conversations in
which the former White House intern alleged an 18-month affair with the president.

On Jan. 21, Clinton publicly denied having sex with Ms. Lewinsky or telling anyone to lie. In the intervening months, the White House battled Starr's office over his right to question Secret Service
agents and White House lawyers.

Clinton confidants such as Vernon Jordan and Oval Office secretary Betty Currie were questioned as Starr looked into whether Clinton tried to buy Ms. Lewinsky's silence with job offers and gifts.

Clinton made a speech to the nation on Aug. 17 about Ms. Lewinsky in which he described his relationship with her as wrong and ''inappropriate.''

The 36 boxes delivered by Starr arrived outside the Capitol late Wednesday afternoon in two vans. Hundreds of tourists and reporters watched the boxes handled like they were filled with gold bars, with
police officers standing by as the material was transferred by congressional vehicles to a secure room at a congressional office building nearby. No member of Congress was allowed to see the information.

With the fate of his presidency possibly residing in that locked room, Clinton made an appeal to Democrats on Wednesday. His voice falling to a murmur in a banquet hall of supporters, Clinton told
Democrats in Orlando, Fla.: ''I ask you for your understanding, for your forgiveness.'' He promised to set the Lewinsky matter right before the November elections.

''I'm determined to redeem the trust of all the American people,'' he said.



To: SOROS who wrote (188)9/10/1998 9:23:00 AM
From: SOROS  Read Replies (2) | Respond to of 1151
 
Doomsday seers: The end of prophecy isn't nigh

SIGN OF THE TIMES

By RICK de YAMPERT

With the year 2000 charging toward us like some sort of cosmic buffalo, all sorts of prophets
are predicting the end of the world. Doomsday cults are becoming as common as salt.

In the spirit of these times, now I can reveal: I once was a member of a doomsday cult. Well,
sort of.

When I was about 7 years old, I saw one of those school science films and the uncle-like
narrator smiled perversely and said, "One day the sun is going to burn out!"

Not for a second did I doubt the revelation. I believed! Because I believed, and because I
didn't have much of a concept of time, and because I didn't have any concept of my own
mortality, this sun thing scared the bejeezus out of me!

I can still recall this sinking feeling of doom that writhed in my gut. "One day the sun's going to
burn out and the whole earth and every one and every thing is going to freeze! Freeze to
death! Including me!" I thought.

Of course, I soon figured out that I probably wouldn't be around when the sun poofed out and
the earth turned into a giant snow cone of death, and I returned to a carefree life of pick-up
football and toy trucks.

As near as I can tell, that panicky feeling of doom must be what a lot of prophets are inspiring
in folks these days. As mentioned, anticipation of the big 2-0-0-0 is creating a buzz among the
end-of-the-world set.

Heck, that buzz has been percolating for centuries. Nostradamus, that granddaddy of
doomsday seers, said back in the 1550s that the "Great King of Terror" would arrive in 1999,
followed by the "end of the world age" in 2000. Should we be spooked that Nostradamus
accurately forecast the date of his death -- July 2, 1566?

In the 11th century, a visionary named Malachy penned brief, colorful descriptions of all the
popes to come until the end of time. Many observers say his epigrams are right on. For
example, Malachy's "Light of Heaven" indeed seems to fit 19th-century Pope Leo XIII,
whose family crest was a comet.

The bad news: St. Malachy lists only two more popes to follow the present John Paul II.
Yikes!

Today's prophets are no slouches, as everything from Atlantis to the Antichrist, computers to
communists figure in end-of-the-world scenarios.

Lori Adaile Toye, who's in touch with four "Tibetan masters," says a giant meteorite will strike
Nevada, causing Florida and California to sink beneath the sea. Byron Kirkwood says a shift
in the earth's axis will kill two-thirds of the planet's population, while the survivors will be
rescued by "the space brothers."

And let's don't forget that king bee of Christian doomsday dudes, Hal Lindsey. In his 1970
book, "The Late Great Planet Earth," he deciphered biblical prophecy and claimed that
current events in the Middle East and Russia are fulfilling the visions of the ancient Hebrew
seers. Armageddon and the Antichrist, Lindsey hinted, are just around the corner.

Even for nonbelievers, all this doomsday stuff can get creepy, even chilling and tragic. Recall
that recent millennialist cults such as the Branch Davidians and the Order of the Solar Temple
came to deadly demises.

But we can take comfort in the prophecies of William Miller, who predicted that the world
would end in 1843. Wrong. That comet Jeanne Dixon said would hit the earth in 1985?
Wrong. Harold Camping's Bible-based doom date of September 1994? Wrong.

Tired of fellow Christians who abuse the prophecy game, William Alnor penned "Soothsayers
of the Second Advent." The book's telling subtitle: "A compelling expose of doomsday dating,
pin-the-tail-on-the-Antichrist, and other non-biblical games that Christians play."

In fact, the doomsday field is littered with faulty prophets who've had their excited followers
ready to board the giant space arc to safety, only to be stood up.

One prophet I do have faith in: pop music star Prince. As he said in his song "1999," the turn
of the millenium should be one big party. Let's just hope the Antichrist, nuclear missiles,
comets and the space brothers aren't invited.

Rick de Yampert is a News-Journal staff writer.