Strib carries AP wire feed reporting, this link.
If Jimmy Stewart "It's a Good Life" local banking is all it's cracked up to be - with readers owning and operating small businesses being better positioned than I am to guess at that; how is the "orderly" folding of failed local banks into other situations being handled? What objective criteria are officials using?
For State chartered banks, many own a share. When the Kiffmeyer-Otsego bank was put under, Central Bank of Stillwater was tapped to step in - and Commerce Dept., the Mpls. Fed, and the FDIC each had some kind of a role in deciding and orchestrating all that.
Would any reader with knowledge of how these things get done, who's picked to pick the bones, etc., please either post an explanatory comment or send an email - see the sidebar for the address.
I confess, it is all quite murky and mysterious to me. Who gets a shot, who does not, does the favored bone picker have very thickly capitalized status, or if that's not the deciding factor then what decision criterion or criteria hold sway?
Is it a case of turning off the lights and first hand at the money on the table takes? I feel ignorant of facts regarding something happening that is very important in long-term community and statewide consequences; and that makes me feel uneasy.
