Tuesday, April 28, 2009

Most Economists

Some people get the idea that economists are somehow "liberal" or "conservative." Most are really neither. Instead of being ideologues on any particular issue, economists are nerds who think about technical models and behavioural assumptions. And we usually see the world in shades of gray. That's why there's really less political polarization than most people think, as this by the Free Exchange and this by David Colander point out. For the most part economists see the world as one big trade-off. One policy prescripting is appropriate if the conditions support assumptions A, B, and C, but the exact opposite is appropriate if A', B', and C' are true. Hence, Harry Truman's quip about wanting a one-handed economist.

If you do happen to be an ideologue, on either side, you probably won't like what an economist has to tell you about it, because the support you get will be equivocal, at best.

Monday, April 27, 2009

Some Banks Do Fail

Here's a list since Feb. 2007:


Bank Name Closing Date
1 First Bank of Idaho, Ketchum, ID 24-Apr-09
2 First Bank of Beverly Hills, Calabasas, CA 24-Apr-09
3 Heritage Bank, Farmington Hills, MI 24-Apr-09
4 American Southern Bank, Kennesaw, GA 24-Apr-09
5 Great Basin Bank of Nevada, Elko, NV 17-Apr-09
6 American Sterling Bank, Sugar Creek, MO 17-Apr-09
7 New Frontier Bank, Greeley, CO 10-Apr-09
8 Cape Fear Bank, Wilmington, NC 10-Apr-09
9 Omni National Bank, Atlanta, GA 27-Mar-09
10 TeamBank, National Association, Paola, KS 20-Mar-09
11 Colorado National Bank, Colorado Springs, CO 20-Mar-09
12 FirstCity Bank, Stockbridge, GA 20-Mar-09
13 Freedom Bank of Georgia, Commerce, GA 6-Mar-09
14 Security Savings Bank, Henderson, NV 27-Feb-09
15 Heritage Community Bank, Glenwood, IL 27-Feb-09
16 Silver Falls Bank, Silverton, OR 20-Feb-09
17 Pinnacle Bank of Oregon, Beaverton, OR 13-Feb-09
18 Corn Belt Bank and Trust Company, Pittsfield, IL 13-Feb-09
19 Riverside Bank of the Gulf Coast, Cape Coral, FL 13-Feb-09
20 Sherman County Bank, Loup City, NE 13-Feb-09
21 County Bank, Merced, CA 6-Feb-09
22 Alliance Bank, Culver City, CA 6-Feb-09
23 FirstBank Financial Services, McDonough, GA 6-Feb-09
24 Ocala National Bank, Ocala, FL 30-Jan-09
25 Suburban Federal Savings Bank, Crofton, MD 30-Jan-09
26 MagnetBank, Salt Lake City, UT 30-Jan-09
27 1st Centennial Bank, Redlands, CA 23-Jan-09
28 Bank of Clark County, Vancouver, WA 16-Jan-09
29 National Bank of Commerce, Berkeley, IL 16-Jan-09
30 Sanderson State Bank, Sanderson, TX 12-Dec-08
31 Haven Trust Bank, Duluth, GA 12-Dec-08
32 First Georgia Community Bank, Jackson, GA 5-Dec-08
33 PFF Bank and Trust, Pomona, CA 21-Nov-08
34 Downey Savings and Loan, Newport Beach, CA 21-Nov-08
35 The Community Bank, Loganville, GA 21-Nov-08
36 Security Pacific Bank, Los Angeles, CA 7-Nov-08
37 Franklin Bank, SSB, Houston, TX 7-Nov-08
38 Freedom Bank, Bradenton, FL 31-Oct-08
39 Alpha Bank & Trust, Alpharetta, GA 24-Oct-08
40 Meridian Bank, Eldred, IL 10-Oct-08
41 Main Street Bank, Northville, MI 10-Oct-08
42 Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT 25-Sep-08
43 Ameribank, Northfork, WV 19-Sep-08
44 Silver State Bank, Henderson, NV 5-Sep-08
45 Integrity Bank, Alpharetta, GA 29-Aug-08
46 The Columbian Bank and Trust, Topeka, KS 22-Aug-08
47 First Priority Bank, Bradenton, FL 1-Aug-08
48 First Heritage Bank, NA, Newport Beach, CA 25-Jul-08
49 First National Bank of Nevada, Reno, NV 25-Jul-08
50 IndyMac Bank, Pasadena, CA 11-Jul-08
51 First Integrity Bank, NA, Staples, MN 30-May-08
52 ANB Financial, NA, Bentonville, AR 9-May-08
53 Hume Bank, Hume, MO 7-Mar-08
54 Douglass National Bank, Kansas City, MO 25-Jan-08
55 Miami Valley Bank, Lakeview, OH 4-Oct-07
56 NetBank, Alpharetta, GA 28-Sep-07
57 Metropolitan Savings Bank, Pittsburgh, PA 2-Feb-07