I was judgmental against Mary Kiffmeyer in relation to a bank failure in a way that, to be honest and consistent, I would have to apply an same harsh and uncompromising standard to Bob Olson, when the failure of the St. Stephen's State Bank was reported.
I have met Olson and spoken very briefly, once in Anoka after he had debated Elwyn Tinklenberg, and have spoken with others who know him. He is capable and cautious. Yet a bank of 80 year's duration in rural Minnesota failed because of the current economy where community banks and savings institutions nationwide have failed at a rate not equaled except during the Great Depression and roughly so during the savings-and-loan crisis in the mid-1980's.
Because I cannot fault Olson or his judgment, (I have no basis for that), I have to withdraw my criticism over the Kiffmeyer situation with the other bank.
I dislike Mary Kiffmeyer and how she handled the Secretary of State duties and her passion for undermining separation of church and state.
But that does not make her good or bad as a banking person, and it is unclear at what stage she assumed responsibilty for the failed operation.
BOTTOM LINE: Since I cannot fault Bob Olson, and the Kiffmeyer situation is similar, if I do not publish now my second thoughts and withdrawal of criticism, it would be hypocritical. I must now say I was too hasty and too critical in my judgment. An intervening situation caused me to revisit my thinking and change my opinion.
