Word: trust
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Dates: during 1990-1999
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...very close to the other patients in treatment. Your weaknesses are on display, and you trust the others not to attack you where you are soft. It's how the place works; you're all supposed to get better together. We gathered twice a day for two-hour sessions to process issues of grief, relapse prevention, fears, depression, abuse and insecurity. We were supposed to acquire greater awareness of, and healthy respect for, the disease of addiction by identifying with other addicts, the theory being that it's easier to recognize the manipulations and dissemblings in another person than...
Wait, though. That's only the beginning. Estimates are that with no change in current policy Washington over the next 10 years will collect a mind-boggling $2.9 trillion more than it spends--$1.9 trillion in the Social Security trust fund, and $1 trillion as an excess of tax collections over spending for everything else the Feds do. The $1 trillion overage is the size of the entire federal budget in 1987 and, paradoxically, creates a problem for politicians that they have never faced before: How best to channel that torrent of cash...
...Budget Committee, decried all talk of surpluses as "a circus act if I've ever seen one." Said he: "Instead of the deficit and debt going down, they're going up." His point: while the government is no longer borrowing from Social Security, it is still borrowing heavily from trust funds for Medicare, pensions for military and civilian government employees, highway building and other things. Without those nonpublic borrowings, he contended, the government ran a deficit of $127.8 billion last fiscal year, and the debt, including amounts owed by one part of the government to another, is still rising from...
Last May the North American Securities Administrators Association cited viatical scams as one of the country's top 10 financial cons. "I like a lot of people in this industry, but I don't trust a lot of them, and that's sad," says Carole Fiedler, of Sausalito, Calif., an established viatical broker who each year helps about 100 people find buyers for their policies. "I hope there's a weeding-out process...
There will be, if regulators and prosecutors in states from Florida to California get their way. Late last summer a federal grand jury in Florida indicted Frederick Brandau and his company, Financial Federated Title & Trust, for allegedly defrauding thousands of viatical investors across the country in an elaborate, $115 million Ponzi scheme. Brandau's attorney denies the allegations. Just a month ago, two officers of Justus Viatical, a Pompano Beach, Fla., firm, were charged with selling investors $2 million worth of fraudulently obtained life-insurance policies. Their lawyer calls the indictment a farce. And insurance heavyweights like American General...