Sticky Top Post

Howdy. We've moved from Cayce, but St. Elizabeth of South Rose Hill or Lizette de Waccamaw de Sud just don't do it for me.

Monday, September 15, 2008

Gonna need a bigger sock

Looks like the best place for any $$ we have might be in a sock under that mattress. With the threat of multiple bank closures, we might all need bigger socks.

Or patience -- we survived the Savings & Loan disaster in TX in the early '80's. We got royally screwed, tho, when our S&L was bought by the same guy who bought the Dallas Cowboys and fired Tom Landry. Bum Bright, the aforementioned owner, must have needed extra ready cash -- the "bank" started floating payroll checks. For two weeks. You can guess the havoc that played with our payments. 7-11 sends bounced checks back to the bank 5-6 times each....

Digression aside -- here's hoping the panic ends soon. I don't have a good understanding of high finance or economics, but it seems like these houses of cards should have been identified long ago.

1 comment:

Sean said...

Usury.... I think it was well identified at least 3000 years ago.Now we call it insurance and loans... :-)