Word: thrift
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Dates: during 2000-2009
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...Reframed in the movie as an American, Becky is a classic case of the aspirational shopper, scarred by a childhood full of sensible brown shoes and thrift-store shopping with her mother (Joan Cusack, who in real life is all of 14 years older than Fisher). "When I shop, the world gets better," Becky says dreamily. "And then it's not, and I need to do it again...
...seem to be starting to rediscover thrift. Debt levels are falling. Consumer spending is down. The savings rate is on the rise. Great, right? Not exactly. The sudden sobering up of the American consumer happens to be the No. 1 force driving the U.S. and global economies downward. We're saving more, yet we're all getting poorer...
This is what some economists call the paradox of thrift. The notion is generally credited to Englishman John Maynard Keynes--seemingly the source of every important economic idea these days--although he doesn't appear to have actually used the phrase. Paul McCulley, an economist and portfolio manager at bond giant Pimco, defines it like this: "If we all individually cut our spending in an attempt to increase individual savings, then our collective savings will paradoxically fall because one person's spending is another's income--the fountain from which savings flow." (See the top 10 financial collapses...
...failure of Hope for Homeowners has heightened awareness of the fact that it can be incredibly difficult to shape the behavior of private companies and create an effective fix for such a complicated problem. In December, the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) issued a report showing that at national banks and federally regulated thrifts, nearly 37% of homeowners were 60 or more days behind on their payments six months after receiving a modification. That re-default problem has received much attention as the national conversation has turned toward the idea of taxpayers standing...
...former Rockefeller aide, Harry W. Albright Jr., recruited Parsons in 1988 to serve as chief operating officer of the Dime Bank, one of the largest thrift institutions in the United States...