OTHER NEWS - Aug. 16, 1991

Frederick H. Joseph Settles With Regulators: The former chief executive of Drexel Burnham Lambert Inc. agreed to pay the government more than $3 million to settle a civil suit for losses suffered by the nation’s failed savings and loans. The Federal Deposit Insurance Corp. and the Resolution Trust Corp., charged with cleaning up the failed savings institutions, announced the agreement in a statement. The two regulatory agencies have sued a number of Drexel officials, including Joseph and former junk bond king Michael Milken, to recover about $12 billion in losses at the thrifts, which invested in junk bonds peddled by Drexel.