Word: banke
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Dates: during 1960-1969
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Finally, for those whose frustrations cannot be expunged by small, subtle victories, Matusow proposes direct confrontation-attacking the inhuman enemy with the most human of weapons: "Women going into a room with a bank of computers are advised to wear a lot of the cheapest perfume they can find." Computers operate effectively only in "clean" air, Matusow explains, and are highly sensitive to environmental changes. Heavy dollops of perfume could paralyze a computer as effectively as they do those of a weak-kneed human office worker...
...what banks fail in Texas, as long as the Federal Deposit Insurance Corporation protects us? That would be a fitting refrain these days in the Lone Star State, where five small, state-chartered banks have collapsed since April.* Their fatal maladies were, variously, loose lending policies, lax management, land speculation, declining rural communities and, in one instance, alleged embezzlement. Perhaps it only reflects the new permissive attitude of the times, but Texas depositors have taken the closings with carefree jollity. Says Robbie Ferguson Jr., cashier and vice president of the failed Big Lake State Bank: "At first...
...reason, of course, is that the F.D.I.C. guarantees all deposits of member banks up to $15,000. Thus when the First State Bank of Aransas Pass (pop. 8,000) failed to open last week, the F.D.I.C. moved in with what by now has become a familiar operation to many Texans. The bank had speculated in land adjoining the site of a planned metallurgical plant, and lost heavily when the plant did not materialize. The price of failure was borne by First State's shareholders, who do not enjoy any Government protection and who suddenly found their...
Matter of Trust. When the Citizens State Bank of Alvarado collapsed in April, the F.D.I.C.'s chore was somewhat more complicated. The federal agency is suing the bank's president, Jack Park, who has been mayor of the town since 1954, for $512,000 that it says he embezzled. But the F.D.I.C. seems alone in taking offense. "I've never heard such nice things about me as people said after the trouble started," says Park. In fact, when the Pioneer and Old Settlers Association held its annual meeting last month, its members elected Park treasurer to guard...
...less trust attended the closings in Lovelady, a sleepy town in the piney woods of East Texas, and Big Lake, though there the faith was on the other side. The State National Bank of Lovelady (pop. 644) used to advertise that "we love people, particularly people to whom money is a mystery." President Jim Grady Waller lived up to his ads. "If a man needed money, Waller would give it to him, even if he didn't have collateral," says Mayor W. T. (for William Thomas) Bruton. "A man's word was good enough." The debtors still...