Word: saversion
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he: "I'd rather call myself a bank than a money-market fund because more people know what a bank is." So far, it is unclear whether the money funds will get Government permission to go into the banking business. The banks themselves could decide to lobby ferociously against...
Irwin Halper, 35, the part-owner of a paper-goods company in New Jersey, put his money into tax-free bonds for several years and, more recently, into All Savers Certificates to take advantage of high interest rates. With the stock market shooting up, Halper last week called his stockbroker...
When billions of dollars are at stake, even the most reserved of bankers and brokers start chasing after customers. Last week marked the first anniversary of the beginning of the much ballyhooed All Savers program. Thus as some $31 billion worth of the one-year, tax-exempt savings certificates began...
The All Savers program was authorized by Congress in the summer of 1981 as a 15-month stopgap measure to help banks and S and Ls attract funds. By last week, as the certificates started to mature, the biggest question in the industry was: Where would investors stash their money...
The week-long All Savers free-for-all was hardly unique. These days millions of investors are being badgered by conflicting advice from bankers and brokers. That is because sliding interest rates are shaking up the entire investment industry. As the luster has faded from such multi-billion-dollar investment...