Word: thrifts
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...however, Thatcher will concentrate on what she sees as her main task: transforming the nation's economy and attitude toward work. She is fond of calling for a return to "Victorian values," by which she means the virtues of thrift and self-reliance, hard work and sense of duty. (In an inspired bit of parody, the liberal New Statesman illustrated a special issue on the subject with a photomontage of Thatcher as Queen Victoria.) As Peregrine Worsthorne, associate editor of the conservative Sunday Telegraph, puts it, Thatcher "is as ignorantly contemptuous of the so-called values of the idle rich...
...rose in last week's Cabinet shuffle, Thatcher is likely to continue to rely heavily on Norman Tebbit, the Employment Minister, who has emerged as one of her closest confidants. Tebbit thrust through legislation making secret strike ballots mandatory and regularly delivers stern calls for thrift welfare cuts and hard work. Another Tory to watch is Michael Heseltine, the Defense Secretary, who launched a successful counterattack against the country's growing nuclear disarmament movement. His one possible drawback: he is not a Thatcherite in economics...
...able to meet the terms of the rate freeze - crucially, you have to have been making your payments, but be unable to keep doing so after the rate rise - will be much smaller than that. Earlier this week, reports The Wall Street Journal, the director of the Office of Thrift Supervision, John Reich, estimated that "tens of thousands" could be helped...
...income of pre-industrial England," he writes. Clark proposes a wildly contentious explanation for this disparity. By studying wills from England circa 1800, he finds that rich families tended to reproduce far more abundantly than poor ones. As the affluent outbred the poor, bourgeois values like thrift and literacy apparently diffused through English society from the top down, eventually jump-starting the Industrial Revolution, and allowing, for the first time in history, economic growth to outpace population growth. England's exploding prosperity, then, depended on the cultural, and perhaps even biological, transmission of those values. "The triumph of capitalism...
Next are the mortgage lenders that belong to the same corporate family as a bank or a thrift. They're subject to oversight by either the Federal Reserve Board or the Office of Thrift Supervision but not to regular supervision. In this category are HSBC Finance and CitiFinancial, among others...