Word: thrift
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Rochon recommends the local Salvation Army Family Thrift Store, where he found a $40 plaid couch. "For 40 bucks it's in great shape," he said...
...helped her join a convoy making a daring cross-desert escape to the Saudi border. A cheer went up when word reached the Washington Post newsroom last week that she was safe. Through the whole ordeal, the Massachusetts-born Murphy, 43, managed to keep her Yankee sense of thrift. When she telephoned the Post from Riyadh last week, an assistant tried to switch her to foreign editor David Ignatius. Murphy demurred. "This hotel is charging too much. Have David call me back...
...fact, the law that set the rescue in motion last year was so deeply flawed that it may have worsened some of the industry's woes. For example, regulators imposed strict new lending standards on thrifts and commercial banks; the restrictions helped cause a credit crunch earlier this year. Ironically, many thrifts may go belly-up because of the tough new regulation. The standards require thrifts to have more capital on their books than even some profitable S&Ls had previously carried. As a result, even some well- managed institutions such as Chicago's 68-year-old Talman Home Federal...
...problems of many large banks suffering from sour real estate loans are closely linked to the S&L mess. Seidman noted that the thrift crisis "has clearly had an effect on real estate markets" by lowering property values and making mortgage loans harder to get. "Real estate markets," he added, "have an effect on bank results. So there is a relationship between the two. And the effect has not been good." Nonetheless, bank depositors "shouldn't withdraw their money and hide it in mattresses," says Eli Schwartz, a Lehigh University economist. "We may be having a banking crisis...
...thrift crisis could become the heaviest domestic burden of Bush's presidency. In a TIME/CNN poll conducted July 24 to July 25 by Yankelovich Clancy Shulman, 49% of the adults in the survey said Bush was doing a bad job of handling the crisis, vs. 33% who gave him good marks. When asked which party they blamed most for the thrift mess, 36% said the Republicans, while 18% said the Democrats were mostly at fault. Only 12% said they have a lot of confidence in the government to correct the S&L mess. Another 59% indicated they were losing confidence...