Word: saverse
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Dates: during 1980-1989
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A dozen years ago, hot dogs and peanut butter were about the only affordable fare for Bruce Bent and Henry Brown, the inventors of the money-market mutual fund. Their creation, registered in 1971 as the Reserve Fund, offered big yields to small savers for the first time and eventually...
Along with the old disputes about spiritual imperialism or the propriety of seeking converts from other faiths, there is a continuing sharp debate over whether missionaries should be mainly savers of souls or workers trying to improve the daily lives of people. Among Protestants, there has been a shift toward...
In spite of the pervasive economic gloom, 1982 was a banner year for savers and investors. Having suffered huge savings outflows in prior years as depositors withdrew their funds to chase after the high interest rates available from money-market mutual funds, commercial banks and savings and loan institutions were...
Bankers and savings and loan officers are both excited and apprehensive about the Super-NOW. They hope this new weapon in their arsenal will help them recover a large part of the $230 billion in deposits that has been captured by money-market mutual funds. But the banks and S...
The new investments will have a large competitive plus but also several minuses. On the positive side, the accounts will be federally insured for up to $100,000. Money-market mutual funds, by contrast, carry no federal insurance. But bank and thrift customers will have to keep at least $2...