Word: sectoral
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That hasn't come without cost. As the FHA filled the void left by the private sector, it has assumed the risks of those loans. And now that a growing number of people have stopped paying their mortgages, the FHA has had to pay out more in claims that it forecast. The agency has just $3.6 billion on hand to cover any unexpected losses in its $685 billion portfolio. That paltry level of reserve funding, less than is mandated by the government, has left some members of Congress in a twitchy mood and some onlookers to wonder...
Virtually every country in the world, large and small, has an official tourism department to woo visitors to its shores. Tiny Tunisia has 24 tourism offices in 19 countries across the globe. South Africa has 10 offices on four continents. America has none, relying instead on the private sector to attract tourists. "Airlines, tour operators, hotels - they've had the responsibility of promoting America," says Henry Harteveldt, a travel industry analyst at Forrester Research in San Francisco. "The government has stayed away from these kinds of initiatives and as a result, we've lost out on travelers...
...would have a budget of up to $200 million, funded by contributions from the private sector (hotels and airlines, for instance) and a new $10 fee that would be paid by any entering foreign visitor who does not require an entry visa. The latter element has proven controversial - especially to the mostly European travelers who would have to contend with those extra costs. Ambassador John Bruton, head of the European Commission delegation to the United States, called the potential levy "discriminatory" in a September statement, and warned that it could become "a step backward in our joint endeavor toward transatlantic...
...string of success stories has transformed a design scene once considered frivolous - back when banking was choice - into one of the few sectors driving Iceland out of its economic quagmire. In September, the Ministry of Industry bestowed its first million-dollar grant to a fashion house, Andersen & Lauth. The company's creative director, Gunnar Hilmarsson, was also recently crowned chairman of the year-and-a-half-old Design Centre. Although it was created before the crash, Hilmarsson explains that the center - which is a government-sponsored platform for exhibitions and seminars - took on a new life once the money disappeared...
...vote. And unlike his other moderate Democratic colleagues, he has claimed he's not even open to the compromise proposal that Republican Senator Olympia Snowe has been pushing - a so-called trigger mechanism whereby a state would be able to access a national public option only when the private sector was not providing enough affordable plans of its own. At a time when Senate Democrats are trying to avoid the mistake their House colleagues made - drawing too many lines in the sand - Lieberman is the only one drawing lines...