Hi friends. Welcome to my inaugural blog, The Missing Linc.
The name was chosen to honor my Dad, a journalism major at the University of Illinois who penned a daily sports column by the same name for the The Daily Illini newspaper.
I have yet to determine the frequency of this missive. I have determined the content, however. I will focus on observations and opinions of the U.S. financial system, and of course, implications for community banks. And so we begin.
I’m a talking head TV junkie. Call me strange, but I get jazzed by listening to opinion news programs that weigh in on the events of the day. Few are “fair and balanced” as they claim to be so often I opt for PBS or National Public Radio. At least they don’t talk over their guests and actually allow them to answer a question or two. But lately, I have about had it with all of them.
They would have us all believe that this country is going to hell in a handbasket and that all banks are in trouble and in need of a bailout. True, some are…the too big to fail banks that started all this mess with their risky and greedy subprime tendencies. But all banks are not created equal.
The nation’s 8,000 community banks for the most part are alive and well and doing what they have always done…lending to small business and agriculture and hometown folks that they know. And while some community banks (about 400 to date) have taken government money made available to all banks, they did so to put back to work in their local communities, not because they needed it to survive. Spurring lending activity was precisely what the Treasury, the Administration and the Congress were hoping they would do.
Now I am not blind or naive to believe that this nation has not fallen on tough times. Nor do I believe that all community banks will survive in this financial environment. But I am confident that most community banks are healthy and better positioned to withstand the current storm. The community banks will lead us out of this crisis so long as they are not painted with the same brush by bank regulators, news media and lawmakers.
All of us just need to keep perspective, and interject some optimism about the future of this country and putting our faith and trust back into our local communities and local financial institutions on Main Street.
But mostly, we all need to stay off the media bandwagon of doubt and despair and trust the American Spirit and the American Free Enterprise system….the greatest economic engine in the world.
chris, i commend you and your staff on starting the community banking blog. what a great way to get out our positive message. milton
Thank you for giving a portal to respond on topics closer to home.
“the too big to fail banks” you quoted should be finished with “maybe they shouldn’t be a bank”. Over the last couple of weeks I have had a number of calls from community bankers in search to find someone to participate their loans due to “the too big to fail banks” not lending. As a result, we community bankers now have a greater number of requests for loans over our legal lending limit. This gives us an opportunity to show our strength to the communities we serve and to Washington. Maybe when the media shifts their agenda, they will identify with your blog and those of this type.
Chris,
Congratulations on the new blog & on behalf of all community bankers in Texas & the U.S. – - – thanks for all you do to keep putting out the “Word” on community banks & representing us in the law making process.
Chris, the biggest problem is that no one realizes that there are banks outside the money centers. If you read the press or look at the packages being passes by Congress and the President, they all target the major money center banks – who do need the help – and ignore the rest of us – who may be doing better. Even SBA falls into that trap.
By the way, this is my personal opinion and does not reflect an official corporate position on the subject.
Good question…when you have Republicans even jumping on the “nationalization” bandwagon you have to wonder.
Congratulations on your first entry into the Blogosphere.
Now how do we get the media to hear you so that they stop spreading fear, fear and more fear.
How do we get our elected officials to hear you so they allow free enterprise to work?