The CEOs of home mortgages were Savings and Loan presidents. The typical Savings and Loan president was a leader in a tiny community. He was the sort of fellow who sponsored a float in the town parade; that said it all, didn’t it? He wore polyester suits, made a five-figure income, and worked one-figure hours. He belonged to the Lions or Rotary Club, and also to a less formal group known within the “thrift”* industry as the 3–6–3 Club: he borrowed money at 3 per cent, lent money at 6 per cent, and arrived on the golf course by 3 in the afternoon.
