BANKING & FINANCE - April 4, 1992

Spiegel Assets Kept Frozen: A judge refused to unfreeze the assets of former Columbia Savings chief Thomas Spiegel, accused of wasting $40 million in S&L; funds on jets, holidays, guns, wine, luxury cars and other indulgences. The order from regulators requires Spiegel, an old friend and business ally of junk-bond financier Michael Milken, to produce a detailed personal financial report. That includes assets transferred by and among family members for the past five years, tax returns, judgments pending against him and overseas assets.