Word: thrifting
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...have passed those ideas on to their kids." Little wonder that some favor the retro boom, based on a fascination with the 1950s, while others are enchanted with the 1960s. Vests and jeans, the preferred accoutrements of the '60s, are making a comeback. A funky boutique called the Chicago Thrift Shop not only offers Levi's jeans in both 501 and 505 models but also carries them used and tattered for that slightly disheveled look now back in favor...
...former owner of California's Lincoln Savings and Loan and a defendant in a lawsuit involving racketeering, fraud and conspiracy in using the institution's funds. After the smoke clears, bailout of this S&L is expected to reach $2.5 billion, making it the nation's costliest thrift failure. When asked whether his fat contributions to the five Senators influenced them to take up his cause, Keating replied, "I want to say in the most forceful way I can: I certainly hope...
...will begin, here and now, to eliminate the ongoing losses of the insolvent firms . . . I'm proud to sign this monster." So said President Bush last week as he stamped into law his long-awaited and much debated savings-and-loan bailout bill. The legislation, / which will rescue ailing thrifts at a cost estimated at $300 billion over the next 30 years, promises to transform the S & L business into a far smaller -- and potentially stronger -- industry. The law will also impose a sweeping reorganization on the Government's thrift regulators: the Federal Home Loan Bank Board, now independent, will...
...billion off budget, however, will increase the eventual cost of this year's bailout expenditures by an estimated $3 billion over the next three decades. That is because the off-budget money will have to be borrowed by the Resolution Funding Corporation, the Government agency responsible for restructuring the thrift industry, which will have to pay investors higher interest rates than the Treasury pays for on-budget borrowing. As a result, the S & L rescue's first installment is a case of bail now, pay later...
...golf tournament, one of the gag trophies is the George Bush Dress Award, shaggy plaid trousers bestowed on the competitor sporting the worst attire. Its eponym still buys bargain threads at a factory outlet. Despite his recent affluence, he continues to describe himself as "all name and no money." Thrift is a virtue for someone trying to build his own business without capital. Bush became known as a shrewd dealmaker who could attract investors without incurring debt. As the energy business flourished in the late '70s, he built a small, solvent outfit of his own. He also married Laura Welch...