Word: scuttlebutt
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Dates: during 1980-1989
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...that it was a great deal is a gross understatement. It was unbelievable," says a high-ranking savings and loan executive. So goes the industry's scuttlebutt these days about Robert Bass's takeover in December of the crippled American Savings & Loan of Stockton, Calif. In one of the sweetest deals ever bankrolled with taxpayer money, the intensely private Fort Worth billionaire, 40, stands to benefit hugely from a decade of regulatory laxity. His purchase of American Savings is the pre-eminent episode in a string of controversial bailouts last year in which regulators handed out gilt-edged gratuities...
...Washington people always suspect ulterior motives. The town briefly buzzed with rumors that Baker was maneuvering to get the vice-presidential nomination. Aides to George Bush scoffed at the scuttlebutt. So did Baker. "There isn't even the remotest possibility that such a thing will come about," Baker told TIME. "It's something I don't expect and don't want. I'm doing nothing to promote that...
...soon as the rumors became public, the issue of Cunningham's integrity dominated coffee table chatter and cocktail party scuttlebutt at corporate gatherings everywhere. The press lavished so much attention on speculations about Cunningham's morality that The New York Times--after running the story on its own front page--editorialized, "Never in recent memory has so much been written about so little," The question both the media and the business world seemed to want answered was not whether Cunningham was qualified, but the snickering, "was she or wasn...