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...usually returns to Nebraska, where he divides his time between constituents and his children, Ben, 15, and Lindsey, 13, who live in Omaha with their mother. On longer recesses, he is likely to travel abroad (early this year to Vietnam and Cambodia, in part for sentimental reasons, chiefly to shore up his foreign policy credentials). He is critical of the Bush Administration's Asian policy, but has yet to formulate one of his own, which he believes is a President's role, not a Senator's. Congressional colleagues, including some Democrats, fault Kerrey as unfocused and naive about Senate customs...
...largest bear market in any country since World War II," says Peter Tasker, head of research at Kleinwort Benson International in Tokyo. In a fleeting burst of euphoria, the index zoomed a record 13% last Tuesday, but much of the gain was the result of frantic government moves to shore up the market. Among other things, the Finance Ministry gave investors easier access to borrowed money and curbed the hours of futures trading...
Government investigators are now probing a complex network of companies and S&Ls that invested deeply in junk bonds, mostly handled by Drexel Burnham Lambert, and carried out elaborate deals to swap the bonds and other assets. Some of the bonds were used to artificially shore up ailing thrifts or were sold in multimillion-dollar lots to cooperating S&Ls. Federal investigators are giving particular scrutiny to Silverado, Charles Keating's Lincoln S&L in California, CenTrust Bank in Miami, and San Jacinto Savings in Texas. Each had extensive business dealings with Drexel and with one another...
...worst examples of government ineptitude concern 97 packages hurriedly thrown together in 1988 to shore up collapsing thrifts, many of them in the Southwest. Last week the Resolution Trust Corporation (RTC) reported its findings on how this first wave of bailouts was handled. Among its conclusions: the transactions were so poorly designed and generous that they allowed investors to reap billions that could have been saved had Congress and the Reagan-Bush Administration been willing to cough up more money up front...
Sometimes George Bush is at his dining room table in Kennebunkport, Me., looking beyond the rocky shore to the open water, and sometimes he is on his boat, casting for bluefish, when he wonders aloud about the new world order he must shape once the Iraqi confrontation plays out. He is looking beyond pure military matters...