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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:

Super Dad said...

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