Word: thrifts
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...story), commercial banks are in no real danger. They have raised their prime rate on business loans as high as 11½%, and they are paying between 11% and 11 ⅜% on large-volume certificates of deposit (CDs) in order to attract funds. But the situation is different at "thrift institutions"-savings and loans and savings banks, which make mostly mortgage loans. Their income is held down by loans made years ago at relatively low interest, so they cannot pay anywhere near as much to attract deposits as commercial banks...
Rose Fitzgerald was schooled by her mother in solitude, thrift and order, though there was always money for cooks and nursemaids, for the trips and the couturier clothes that she loved. Once married, she never questioned her husband's long absences from home or his judgment-except once. That was over the boys' schooling. She favored a Catholic education, but Joe wanted his sons prepared for a broader, more catholic world. He turned out to be right, she says, and from then on, "if Joe said...
...Like some medieval plague, inflation today is sweeping across national borders to infect almost every country at the same time. And the consequences of the international spiral go far beyond economics: they include a sharpening of social divisions and a shaking of values, as inflation rewards speculators while penalizing thrift. The ultimate threat is that inflation will eventually weaken confidence in democratic governments and institutions and prepare the way for sharp, violent shifts to the radical right or left. At present that danger seems vague, but political leaders do not dismiss it. Says German Finance Minister Helmut Schmidt: "I only...
...money for at least 2½ years. Now, however, at least four mutual funds have been organized to give the small investor a crack at the high yields-a move that seems likely to put them into head-on competition with savings banks, savings and loan organizations and other thrift institutions for small savings...
...winter loomed as a grim season of cold bedrooms and chilly classrooms, of painful shortages of oil-related products ranging from phonograph records to penicillin, of cramped inability to travel, of shuttered factories and high unemployment. And that supposedly would be only the start of a new lifestyle of thrift, sharing and self-denial -spiritually cathartic, perhaps, but hardly very comfortable...