Is it a bank or a thrift?

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1 Response

  1. j says:

    I’d hate to risk making the grumpy editor even grumpier, but he’s wrong. Using the term `thrift’ may be a nifty, and accurate, way to distinguish a savings bank from a commercial bank, but it is by no means the only one that works. `Savings bank,’ `savings & loan’ and even `bank’ — when you’re working with limited space — are acceptable, I think, so long as you explain at some point how the institution works.
    Think of it this way: Would you insist editors call Goldman Sachs a `securities firm,’ and not an `investment bank’ since its primary function is to buy and sell securities? Nah.
    So lay off the humble headline writers and find a new target. I hear the financial press is totally responsible for the “recession.”

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