Should we be surprised that we are witnessing so many failures all around us? After all, the mainstream media claims that the U.S. economy is doing just great. Of course, the truth is that the economy is not in good shape at all.
“If you have no interest in banking, you are not a loan.” (Best said out loud to a 6th grader.) Cutting edge humor aside, this morning I head to Orlando for the FAMP event, in a state where there are a total of 186 banks operating with 4162 branches. Some of the conversation will be about Freddie Mac earning $2.9 billion in the 2nd quarter (how’d your company do?). Banks… Last Friday we saw something we haven’t seen for a while: a bank closure. “Heartland Tri-State Bank of Elkhart, Kansas, was closed by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver… the FDIC entered into a purchase and assumption agreement with Dream First Bank, National Association, of Syracuse, Kansas…” While we’re on Agency and government news, the Federal Reserve's quarterly Senior Loan Officer Opinion Survey found that banks have tightened credit standards f
Should we be surprised that we are witnessing so many failures all around us? After all, the mainstream media claims that the U.S. economy is doing just great. Of course the truth is that the