Sunday, January 29, 2012

Creative Destruction: US Bancorp Buys Failed Institution in TN

“I want to be a ConsumerAnd do my duty well;For that is the thing that’s needed most,I’ve heard Economists tell.I’ve made up my mind,” the lad was heard,As he lit a cigar, to say;“I want to be a Consumer, Sir,And I want to begin today.”
Patrick BarringtonQuoted from The Failure of the New Economics, Henry Hazlitt (1959)
On Friday the FDIC reminded us that the banking crisis continues, closing and selling several institutions in arranged transactions. This may seem

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