14—MANCHESTER HERALD, Friday. June 14.. 1991 w Town man attempts suicide at jail I Blame From Page 1 J MANCHESTER — A Manchester ftian attempted a pulse before paramedics arrived on the scene, policy natural tendency for everyone to try role he played in the BNE failure, suicide in a jail cell at the Manchester Police Department said. ..T to justify their part,” Connolly said. also heaped blame on regulators Wednesday, the second such incident in six weeks, police Labbee said he was going to try to comimt surer ^ “I will not try to do that who he says suddenly changed their said today. again while the paramedics were checking hrs coirdrtron,^ manrhratpr M rral “I was at the helm, chairman and rules in 1989 to impose strict stan­ hi Wednesday’s case, PEitrick Nelson Labbee, 37, of, police said. After the paramedics detemined ^ b b ( » w ^ Lannan drove him to Manchesti ^ CEO (chief executive officer) dards for loan valuation “that I had 144 Center S t, Apt. 9, was jailed on a charge of first- physically stable, Lannan drove hirn to M a ric l^ t^ SATURDAY NEWSSTAND: 350 during most of the period prior to never seen in 30 years of banking ... degree arson, three counts of threatening and breach of Memorial Hospital for a psychological examination? JUNE 15,1991 TWELVE PAGES— TWO SECTIONS — Volume 110, Number 219 HOME DELIVERED: 300 the failure,” he said. “I set the and that we all thought were un­ peace, police said. police said. Manchester, CT A City of Village Charm strategy and policies that launched realistic. Labbee was found on the floor of his jail cell by Of­ Lannan responded to Labbee s apartment buildingl the B a^ of New England, and I ac­ “If our customers were honest and ficer David K. Lannan, the same officer who had arrested after the police department received reports of an vgu*^ him. One end of his shoelaces were attached to a bar of ment between two tenants in the* apartment building u cept responsibility for my judgments we judged that their problems could — that failed.” ultimately be worked out, as bankers the jail cell, while the other end of his shoelaces were police said. 4! After years of rapid growth tied around his neck, police said. Labbee was released on $2,500 bond with a promise t^ throu^ mergers and extensive lend­ we believed it was our job to work A police sergeant immediately cut the laces, and appear back at the hospital. His court date is schedule^ ing in the commercial real estate with them — in the bad times as checked L.aDDee's vital signs. He was breathing and had for Monday. sector. Bank of NewL England and well as the good,” he said. “Instead, Yeltsin declares other BNE Corp. subMdiaries were the Compfroller’s formula forced us declared insolvent Jan i^ and taken to throw our customers over the waiter Jr. Connolly Jr. BNE From Page | over by the Federal ^Deposit In­ side. surance Coip. “Overnight, we were forced to X Communism dead lawmakers, Connolly hedged, refus­ “Through the years, examinations tion troops in for a hands-on, on-site nowledged that he knew BNE w asf Bankers, federal regulators and revalue our entire real estate ing to say the b ^ could have found problems — questions about inspection of every aspect of the engaged in excessive real estate^; portfolio, to write off hundreds of reporters after the meeUng. lawmakers agree the bank failed remained solvent had it not been for the bank’s rating of its risks, asset Bank of New England empire.” ' lending and noted it on reports of4j MOSCOW (AP) — Boris Yeltsin N primarily because it made excessive millions in loans and to stare at the said Hiday there was no way to save Yeltsm’s grand vision of a Russia the sudden regulatory fervor. quality, poor loan underwriting, ade­ Martin Marasco, national bank three bank reviews he led fi'om 1 9 8 ^ investments in the commercial real specter of a decimated loan He, in fact, agreed with a remark the Communist system, and his top with family farms, pnvate busi­ portfolio, a new set of rules and a quacy of loan losses and, ultimately, examiner for the OCC, ack- through 1988. g estate market, which plummeted in by Rep. Barney Frank, D-Mass., that some serious management deficien­ pnonty as the Russian republic’s nesses and easy links to the outside the recession. sea of red ink.” “Regulation will always be limited. first popularly elected president was world would transform seven Later, however, when pressed by cies,” said Committee Chairman But Connolly, while admitting the “The failings in this situation Henry B. Gonzalez, D-Tex. ^ ......... pressing ahead with radical reforms. decades of centralized Communist were overwhelmingly in the private In his first public edhunent on his rule. sector,” Frank- said. “There are “None of these triggered enough HAPPY victory Wednesday, Yeltsin pledged Yeltsin said Soviet President limits to what the public sector can concern at OCC to sound a general .to restore the histone ues tetween Mikhail S. Gorbachev telephoned EDC From Page 1 do.” alarm that could have sent examina­ iSoviet UhuHi’s biggest republic and him Friday to congratulate him on 4001 Eurqie. He also said he hoped to his election. The two men discussed Morrison also presented a vast months. According to commission start a dialogue with the Umted their future cooperation, he said. array of services available through Chairman Richard Pelletier, the States during a visit to Washington The two rivals ate at odds over the department’s divisions, includ­ panel can be made permanent only BIRTHDAY next week. how quickly the nation should adopt ing engineering and financial con- after a public hearing. RICCARDO'S 'Ybltsin was in a buoyant mood at reforms. sultation, small business “They (the town) want to see the Russian parliament, raising his Yeltsin stud his top priority was troubleshooting, promotion of what we can do first,” said Pelletier, JOE glass in a champagne toast with implementing more than 150 laws tourism and town demographics. who is also selectman for Bolton. MUSIC CENTER visiting Ukrainian lawmakers in an already passed by the Russian par­ The Bolton EDC has a life of 18 In other business, each commis­ Call novf to reserve your QUAGLIA ornate reception hall with a liament, which make up his plan for Local business benefits sion member volunteered to be a panoramic view of the Moscow radical economic reform. cystic fibrosis „— . Rage 3. liaison to one or more of the other instrument for September. RivCT. Election officials said Yeltsin cap­ town boards. Besides Pelletier, the “It seems to me that Communists tured 60 percent of the vote running Independence Day or­ Come in and select your own or we Yes, that is Joe Q. during and honest Communists are starting against five opponents. His nearest Sewers other EDC members are former First ganizers need help .P a g e 3. Erom Page 1 Selectwoman Sandra Pierog, to understand the system is begin­ rival. Communist Party candidate Jonathan Treat, John Morianos, Don deliver directly to the school. prom time in high school ning to collapse and there is no way Palmer, Leonard Matyia and Marian All repairs done on our premises. to save it,” he said, speaking to Please see SOVIETS, page 6. ■ Collector’s column.... repairs to an emergency generator at Kelsey. Here's a special wish to a special P a g e 6. a water treatment plant at Globe The EDC will next meet on Aug 8 50 Main Street East Hartford Hollow Reservoir. The generator is and thereafter on the second GUY from his BUDDIES! a back-up for electric power. Thursday of each month in the 568-0692 Bush demands The directors tqiproved another Community Hall. bid waiver to rent another emergen­ cy generator for the two or three weeks while the existing unit is proof of reform repaired. The eight-year-old generator has WASHINGTON (AP) — Presi­ and pricetags, I think there’s a Shuttle mission about 1,200 hours of actual running dent Bush said Friday he wants to recognition on all sides that the best insightful success time. It got its biggest workout way to assist the whole reform see the Soviets move toward EDWARDS AIR FORCE during Hurricane Gloria in 1985. process is to move to reform itself, genuine ecoixmiic reform before the BASE, CaUf. (AP) — Space and then we’ll see what happens.” leaders of the world’s wealthiest shuttle Columbia glided through countries consider a request for a Bush has taken several steps in Oaty Tbekar/UanchMlar Harold a clear sky and returned home multibiUion-dollar aid package. recent weeks to improve U.S.-Soviet Osellas ties, including a guarantee of $15 THEY KEPT HIM SMILING — Sgt. first-class Raymond Hill of the 82nd Airborne grins as he with seven astronauts today fol­ The heads of the seven industrial­ lowing a nine-day mission that billion in bank credits to enable the addresses the students of Bowers School during Rag Day ceremonies at the school. Hill took From Page 1 ized democracies, known as the provided new insight into how Soviets to buy American grain, and Group of Seven, will gather in Lon­ vacation time to come from North Carolina to visit the students, some of whom corresponded humans adapt to space. he is eiqiected to ask Congress soon don one month from now to hear with him during (Operation Desert Storm. Columbia landed on the desert give him a card this year? Soviet President Mikhail S.