Word: thrifts
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Dates: during 1990-1999
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Amid the cries of alarm, some experts caution against equating the banking industry's problems with the thrift disaster. Overall, banks in the U.S. earned $26 billion last year, while S&Ls lost more than $19 billion. "I disagree strongly with the notion that the problem in the banking industry resembles the early stage of the S&L debacle," says Thomas McCandless, who follows the industry for Goldman, Sachs. "The regulatory environment has been much more rigorous than the loosey-goosey kind of overview that occurred in the S&L industry...
...pushing to clean up the savings and loan mess, have federal regulators acted too hastily in declaring some thrifts insolvent? A federal judge in Topeka thinks so in at least one case. Last week he ordered the Office of Thrift Supervision to return control of an S&L to its original owners on the ground that the agency used "arbitrary and capricious" accounting methods to justify seizing the thrift, Franklin Savings (assets: $9.3 billion) of Ottawa, Kans...
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...
...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...