Word: portfolio
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Dates: during 1990-1999
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From the time he joined the White House three years ago, at a low point in relations between Clinton and the media, McCurry made it clear that he did not want scandal to be part of his portfolio. Through Whitewater and Donorgate, McCurry was able to shovel those questions to the counsel's office. But even while savvy, media-wise lawyers such as Mark Fabiani and his replacement Lanny Davis took the calls from investigative reporters, McCurry had to wage a vigorous internal campaign for openness. "What Mike McCurry has stood for is that if you give reporters...
...pouring over license renewal instructions; what they're doing, mostly, is studying the racing form. I pick up a copy and look it over, and it isn't long before I'm ready to, as they say, make a wager. In fact--in the interest of diversifying my gambling portfolio--I place a pair of bets on the fourth race. But all of my horses lose miserably...
...seems likely to ride out its troubles. The company employs 5,700 people at 200 locations across the country and holds a whopping 30% of the lucrative market for financing mobile homes, making it the sector's largest lender. In addition, more than 90% of its $28 billion loan portfolio is secured by mobile homes, houses and other customer assets. Such backing is rare in the sub-prime industry and enables Green Tree to recover a relatively high proportion of losses when customers default on their payments. And despite problems such as the downgrading of much of Green Tree...
...shouldn't take this as a cue to be seduced into commodities, and don't misunderstand this as a big move out of stocks," Hagstrom says. Indeed, the silver and T-bonds, even after recent run-ups in price, account for less than 10% of Berkshire's $34 billion portfolio...
...Fans of the current system wish to solve this imbalance by "tinkering." For example, some combination of benefit cuts, modest tax increases, a change in the investment portfolio of the trust fund and an increase in the retirement age could shore the system up for the next 75 years. Proponents ask why we should radically reform a program that has been so effective for so long. Opponents say that "tinkering" will not be a permanent fix and that there may be a cheaper way to get greater benefits...