Tag: Banking

Back In My Day: Civilized War – Bank Autopsy Time

It is time to provide a summary analysis of the former employers and related principals in Goober Gump’s journey from the equipment company through the beginning of the team’s control of its fates a decade later.

I will not divulge confidential financial information from past employers, just discuss the practices that were good or bad, or, that led to them making the decisions they did BIMD. I have provided other links to their publicly reported financial reporting going back in time to when we first began. In addition, you can use the link below to the FDIC website to see the current reporting of every active bank in the system.

https://banks.data.fdic.gov/bankfind-suite/financialreporting

In the spirit of Stephen Covey and his 7 Habits of Highly Effective People, of which I fully endorse, the autopsies will provide my view of win-win and win-lose in the final results.

I have also added a section on the current banking issues of the day relating to bank examinations. I will try to not get down in the weeds too far with my comments.

Bank #1 – 1994

Links are below to describe.

https://www.dailycitizen.news/news/local_news/first-volunteer-bank-rebrands-to-builtwell-bank/article_beef91a8-1275-11ed-b120-ebc57d085223.html

https://www.builtwell.bank/About/

Patti Steele is the CEO of the rebranded and expanded First Volunteer Bank of Tennessee based in Chattanooga. It is now known as Builtwell Bank. BIMD the privately held bank holding company was named Community Group (CG). The majority owner’s name was Robert Anderson, a long term solid, executive banker from South Carolina whose family were the primary operators and in ownership of a larger South Carolina bank. Robert left the SC bank and purchased a small community bank in the rural community of Marion, TN outside of Chattanooga. From that start and with that bank’s President, Sherman Barnette, he began purchasing small rural community banks in east TN. They added a financial services subsidiary led by my former CEO a few years after forming their holding company for the purposes of doing small business government guaranteed lending. It required state banking regulatory and SBA approval to exist as a service company for the affiliated banks in the CG system as it was the first of its kind in the southeastern U. S. region. During my employment CG grew to about $350 M in total assets size.

Patti was in operations at the holding company level and on the Board when I was employed there. She was the heir apparent, professional and competent with their business model. She reported to Sherman, who reported to Robert. Sherman was a sharp, good ole boy community banker. Robert was a more formal, cordial, old south plantation type with a leadership style from the past. We got along well with each other as we shared a mutual understanding of big banks as well as a love of golf. I had a good relationship with all of the senior leaders. Patti was very competent at what she did, however, her interests were clearly linked to breaking the glass ceiling even BIMD. It seemed to drive her ambitions. In recent years her Board additions have been less than inspiring and more toward feministic purposes, which reveals her politics. They did not add tangible value to the Board or business operations. It is something to keep an eye on as it can lead to losing focus of the bank’s primary purposes, which is to make money for stockholders and service the customer base well. As long as ownership remains focused on those two truths, they should be fine.

The financial services subsidiary I worked in no longer exists. When we exited, it went into decline and died. Its demise coincided with the merging of banks from being operated as affiliate banks, which is reflected in the link below during the fiscal year ending 12/31/2001. In the financial services subsidiary’s place they expanded the reach of their residential mortgage company to serve their now, 30 locations. BIMD there was only one mortgage originator in the system. While merging the bank system in the late 1990s/early 2000s, they renamed all individually named banks to First Volunteer. They have grown through acquisition of other small rural banks in other areas including northern GA over the ensuing two decades. They are old school community bankers with conservative practices, who have served their internal desires and customers well overall. They are now at $1.8 B in assets with a conservative 70% loan to deposit ratio and stay at a ballpark level of 10-11% on Tier One Capital; which is solid. They paid out a strong dividend in excess of $8 M in 2022, to the privately held ownership.

https://www.usbanklocations.com/builtwell-bank.shtml

My autopsy reveals they continued to grow through acquisitions at a measured pace while becoming who they desired to be and still are. Our subsidiary’s presence in the holding company was implemented to fuel higher profitability for a season of time so that they could purchase more small rural banks. That was a legitimate choice of ownership and it served them well. It also confirmed that our analysis was correct when they hired the SCO who began tightening credit. Our common goals and interests were diverging, so it was time to go. They would have never accepted nationwide or even a larger eastern footprint delivery of what we did. The higher compensation being paid to the team that delivered it, which was prevalent within the industry, would have created internal division. It simply would have been too big of culture shock to the rest of their employees and Board.

However, at that time it was win-win between us. They signaled their change in direction, which gave us time as a small team to change ours. We both won with the changes.

Bank #2 – 1997

https://www.sierrasun.com/news/bancwest-purchases-sierrawest/

Sierra Tahoe Bancorp was the owner of SierraWest Bank, which came into existence by name a couple of years before we joined them. Its predecessor bank was called Truckee River Bank, which was also very involved in government guaranteed small business lending in the area. The bank grew into the Reno, NV area via acquisition, which led to the name change and was similar to the name of the acquired bank.

Despite the bank’s emphasis on our line of business, Truckee River had a spotty record as a government guaranteed lender until my division CEO was hired a couple of years before our arrival. They did not do it well and had numerous losses and issues with the SBA. He addressed the issues along with his excellent SCO, who was also a fine human being. It all turned around at that point with the division being the primary driver of the bank’s net income and asset growth. The theme of good people, good results, was one that was repeated throughout my work life for many years.

When BancWest, parent of Bank of the West, announced the acquisition of SierraWest, the later had grown from just south of $600 M when we joined them to over $900 M in assets in three years. There were no hiccups with the acquisition as it closed as projected in mid-1999, less than six months after announcement. Which explained why SierraWest allowed Bank of the West to be involved in the credit approval process prior to the completion of the transaction, a reality that led to our early departure as a team.

https://www.usbanklocations.com/sierrawest-bank-23323.shtml

Since SierraWest did not sell from a distressed position, there is very little financial autopsy needed. The intent to sell was known to us in our region at employment. The bank was profitable and fit BOW’s expansion desires geographically. However, the sale to BOW did impact our futures and forced several members of our region to find alternatives. This led to the second best career move I ever made, with the first being entering this line of work with CG.

I could care less about BOW, then or now. Let Canadian bankers now deal with the effects that the criminal bankers in France created. Based on how Canada operates today, they will continue to be the money launders they have been.

As a result, I rate it as a win-lose-win with eyes wide open. A calculated risk to work there that paid off in unknown ways prior to making the move. SierraWest employees, its stockholders and our team highly benefitted from the relationship. The sale to BOW was a loss for our team. However, we seamlessly recovered with a much bigger win.

Bank #3 – 1999

Imperial Bank was the one. It just made sense as it targeted its efforts and did not try to be all things to all people. However, it had an Achilles heel. By virtue of being a NYSE traded business bank involved in the finance of venture capital related enterprises (think SVB) as well as the entertainment industry (think boom or bust movies) in two of its three primary lines of business, its annual net income was volatile. As a result it was watched by regulators closely. Provided below is summary financial data over a period of years for those interested in more details. As an example of its growth, total assets went from $3.4 to $7.5 B in just five years. You typically cannot grow a bank that fast (unless you are a cabal constructed SVB type bank) with income drivers in volatile lines of business and not have hiccups in net income, liquidity and capital formation due to overall economic pressures. Every boom or bust cycle will be reflected in your financial statement results.

https://www.usbanklocations.com/imperial-bank-18835.shtml

By the time of the transaction with Comerica, the bank had grown to over $8 B in assets. The article below is an excellent summary of the reasons behind same and acquisition. I will not regurgitate it. The acquisition made great sense to Comerica.

https://www.latimes.com/archives/la-xpm-2000-nov-01-fi-45069-story.html

The founder and Chairman of Imperial, who was active daily in its management, had hit 81 years of age. It was time. If he had waited until after 9/11 occurred, the bank would have probably gone under at some point. With the acquisition Comerica entered the Top 20 banks in asset size in America. They have doubled in assets since then, but dropped to #38 in asset size today.

As a result, I rate the situation as I did with Bank #2. It was no surprise that our employer sold. It was a total win for both banks. However, Comerica simply did not have the credit culture and leadership team in our line of business. We did not drive their net operating income (NOI) up high enough to justify a real commitment in their minds. Comerica chose to reward themselves as the victors instead of the people who operated our line of business smarter, more productive, while making much more money at it. At Imperial we were not the volatile income producers. We were the second highest provider of ROI in the bank, year after year. The transaction was win-win for the banks and win-lose-win for our division and my team. It was also a very short sighted decision by Comerica to go about it as they did with our division. Like many other bigger banks, they still have no idea on what they missed.

Bank #4 – 2001

When we arrived on the scene with Temecula Valley Bank, it was a small, five year old community bank in the rapidly growing SoCal area. It had the highest 5 star rating for financial condition by industry rating agencies including being rated the #1 small bank in America by same. The Chairman/CEO wanted to use our line of business to fuel growth of bank operations into the real estate markets of the area as well as branching. He had good knowledge of what we did and how we did it from his previous stint as CEO of a larger community bank in the region for many years.

https://www.usbanklocations.com/temecula-valley-bank-34341.shtml

We knew how to scale and ramp up our operation to accommodate the smaller size of the bank. Despite its size, the management team was competent and they contracted their operations system platform to one of the larger, national providers. They could deliver on their promises.

That they immediately changed the rules to the game upon our arrival created tension and was a major red flag. I am sure bank examiners may have been concerned with the scope of our operations due to the bank size as well as there may have been pushback from the Board initially. Regardless, they lied. However, we were able to leverage ourselves into a better situation and became a successful, expanding operation.

The Achilles heel of TVB was its arrogant Chairman/CEO. That ‘I’m smarter that you’ attitude passed to the executive level credit officer, other senior management and Board. They never believed the good times would stop, until it did. With the industry overbuilding real estate in SoCal markets, their hellbent desire to play the dog and build the brand was a train wreck waiting to happen. When liquidity began to be an issue with closing transactions a couple years into our arrival, Mr. Arrogant began to significantly use brokered deposits to add to the deposit base. We could see the handwriting on the wall for our efficiency and success. When banks buy brokered deposits, which is limited by regulators, they pay higher interest rates than market to attract them. The deposits are usually CD’s with longer termed fixed rates called “hot money”. So, what do you think happens when interest rates as a whole decline due to Fed decisions? You earn less interest on loans while paying out higher interest on deposits. Not the formula for banking success I would choose.

So for your banking lesson of the day, add in what happens when the economy cools and there are less borrowings. You now have locked in higher than market fixed rates with hot money and insufficient loan demand to offset it with interest income. The core local business customer balances go down as they use more of their own funds to lower interest expense. When the hot money matures, it leaves unless you price it high again to retain. If it leaves, you lose serious liquidity with a high concentration of real estate development and construction loans on the books that are not being paid off from less property sales due to the local economy cooling. If the hot money is retained you need income drivers to offset the declining interest margins between deposits and loans. All while at the same time, you as Mr. Arrogant, have increased your operating expenses through the increased numbers of branches, related facilities costs/expenses, and increased staff payroll relating to the branches.

This makes any bank any where totally dependent on generating more fee income and reducing its operating expenses to survive if they plan to be prepared to take advantage of an economic rebound in the future. Instead of making things better for our division to provide the high premiums, fee and servicing income, Mr. Arrogant did the opposite. He had also reduced our ability to make non-real estate secured business loans that would have added diversity to the loan portfolio, which was a major desire of the regulators. He doubled down on making real estate loans in SoCal while expanding the branch network. For awhile he could brag about how smart he was… until he couldn’t with the debt market and general economic crash of 2008.

Our regional team left in the fall of 2003. My former division CEO left about six months later to begin operations of the company he started. We left TVB a few production officers in our region who were lesser performers, who began sending their loans to the credit area in Temecula. They never reopened a regional credit and loan closing operation in the east. They hired a less accomplished replacement for our former division CEO in mid 2004. He lasted a few years before leaving as the bank started into serious decline. The top credit officer retired and was replaced by a rogue, possible criminal that Mr. Arrogant hired. The bank had grown to $1.4 B in assets by this point, ten times the size it was when we were first hired. The debt market melt down of Wall Street had occurred and with it the national economy. So, let’s see what the FDIC’s Office of the Inspector General (OIG) wrote in their official autopsy. This is highly worth your time to read as a behind the scenes view of how it all works. Please at least read the opening summary.

https://www.fdicoig.gov/sites/default/files/reports/2022-08/10-018.pdf

I am confident this could be used as a case study in banking schools nationwide of what not to do. It was complete vindication for us and our line of business. With the collapse and closure in 2009, Mr. Arrogant was relieved of his duties. The force of his personality and cronyism kept him in the seat for far too long. The stockholders and employees lost out as a result.

The experience was another win-lose-win from my viewpoint. Despite the early lies, we were able to restore the pre-employment agreement and go on to be successful. When the bank first began experiencing liquidity issues, we had sufficient time to negotiate our way into an even better situation. However, we did not expect it to become necessary when we first arrived there. With the stock options and solid plan forward, we thought it would be a long term stay. We did not count on the insatiable greed and arrogance of Mr. Arrogant and crew taking over as it did. Which is a shame, but very common in the industry.

Bank Examinations

This section was not originally planned to be in this story. However, current conditions merit its inclusion. It was pertinent BIMD and especially so today.

Bank examiners are people like all of us. They have special knowledge and training. They also have personal goals, ambitions, families, friends, strengths and weaknesses. The have various levels of competency. During my years of being employed in banking, I only met a couple who had made the profession a career. I saw a good number who used it as a stepping stone into careers in banks, investment banking, insurance, rating agencies such as Moody’s/S&P/Fitch and so on. That made their motivations and attention to detail suspect at times.

I have experienced examiners openly lobbying for jobs in our credit and audit departments. I had a couple who became cheerleaders for us within their agencies. With our departure from TVB and acceptance of employment with the Tennessee bank, one state banking commission official told our Chairman/CEO that he should lock me and my key management up on long term contracts, to not let us get away, with me standing there with the two of them. I had one FDIC examiner tell me that we were not making enough loans for sale to the debt markets about six months before the crash.

Think about what my last statement infers. He was stating that we were not churning enough, not making enough money. I learned later he told our ownership and CEO the same thing in their exit interview. At that point our division was providing 80% of the NOI of the total bank; making more money than ownership believed possible a few years before. But here is the lead FDIC examiner stating we were not doing enough.

As a result of these experiences, it never left my mind that sprinkled throughout these regulatory and rating agencies were globalist cabal operatives even BIMD. It is incestuous by nature. If the banks do not do much business, the examiners have nothing much to examine. That exposes them to extreme boredom as well as job loss eventually from RIFs. Rating agencies have a similar issue. If they rate a bank, company, debt issue, securitization, etc. too critically, their client will never use them again. As an example our favorite rating agency for what we did was Fitch. They attempted to understand the business and as a result, the underlying loans in our pools. The other two majors were useless for our purposes BIMD.

So the key for both the bank and the examiners is to maintain an arms length, mutually respectful harmony between them, which happened frequently in my younger years and rarely in my later years. The later situation leads to excesses that can be nudged forward or destroyed by the examiners. Add to it that through the years I saw very few gray hairs remaining as examiners. If the role was truly a life’s profession, that a person could make a rewarding career of it; then there would be more talent and more experienced people in the role. That was not the case. The revolving door led to lower cost, less experienced personnel. As the years rolled by I saw fewer who did not fraternize with the leaders of the banks they examined. Occasionally you would see one later employed by a contract audit or management consulting firm to place their stamp of approval on a client bank or its loan portfolio as the recognized expert in the field.

There will be more discussion on this in future stories.

If you reviewed the OIG report on TVB, you could simply replace their headlong pursuit of real estate financing with what SVB did with their emphasis on higher risk lines of business in the Silicon Valley among other places. Neither took their foot off the gas pedal and pushed the brake pedal until it was too late. The end result was the same along with many of the contributing factors. It is a situation that keeps repeating year after year, bank after bank, and as a direct result of Federal Reserve and politician aided booms and busts.

The FDIC and California bank examiners had every reason and justification to pull the plug on Mr. Arrogant’s practices long before they did. But they did not, just like SVB. If we knew of serious issues as key officers of the bank in 2003, they had to know when they completed their next exam in 2004 after performing their stress tests, financial and operations reviews. These were duties they continued to perform annually until TVB failed five years later. They even categorized TVB as “Well Capitalized” from 2006-2008. Yet, they failed the next year. Yeah, OK.

I don’t view what I witnessed over 30+ years in this area as accidental, incompetency related, or an inconsistent application of regulations. I see it is as a system feature. Consider the huge implications.

Conclusion

i have disclosed a lot from Goober’s banking employment adventures over about a nine year period. With each new employer the team grew and became better at what they did. They were never forced out or terminated by the employer. Even in the more strained or incompetently managed situations where they chose to leave, the leaders wanted them to stay. They left because conditions changed from decisions made by ownership and/or executive management that signaled that it was time to look around. There was never an employment situation that they accepted when they were not prepared in their minds to walk away, while at the same time hoping they would not have to anytime soon.

They felt like Abraham and family as he moved from place to place at the Lord’s direction while experiencing inexplicable events. They learned to accept that was in the DNA of the industry. It did not have to be, it just was. With their move to the TN bank and control of operations, they all hoped that would end and they could do something that would last long term.

Remember this as we move the story forward.

Blessings to all.

Back In My Day: Civilized War – The Buck Stops… With Goober?!

As I left the last part, something was about to happen to our region at the bank. We just did not know it yet. This will be the last background story leading into more recent times and experiences.

Time To Go – Again

Our region had rocked along with TVB for a few years in a bumpy climb to annual loan volume of just over $115 M at about 175-180 transactions per year. We were making the bank good money and were up to about 45% of the division’s total loan volume. However, loan closings were being delayed by slow funding of loans and there were signs the hot SoCal real estate market was cooling some.

During this time 9/11 had reared its ugly head and the country was reeling from the shock. I still remember where I was when it all began – in my vehicle on the Cumberland Plateau about an hour west of Knoxville heading to Nashville for a SBA lenders conference. My SCO called me on my Blackberry to let me know as he knew I listened to CD’s when driving. We both agreed that more of the prophecy of Revelation was underway.

I was on that cold interstate…

Yet, the business world continued on. TVB continued to participate with developers and contractors with financing packages for residential development of lots and new homes. The homes were primarily built spec, no buyers on the hook. Their price ranged from $1 – $2 M per home. This was not unusual for that market while seeming otherworldly to us in the southeast. It also averaged about twice as many loan dollars committed per transaction than one of ours, of which at least 75-85% of our single transaction loan amount was guaranteed by an agency of the federal government that would be sold on the secondary market for a tidy premium while retaining servicing rights for an additional minimum 1% annually on the sold loan balance. We could make three or four $1 M loans for every one spec house construction loan while adding far greater income to the bottom line.

It typically would not take a genius to figure out that our division was the profit bell cow. Except it did at TVB where they were convinced that the reverse was better. Which perfectly illustrated the ego of the bank Chairman/CEO and his buds in executive management and the Board. They wanted to play the dog in the local area. They wanted bragging rights in their pond over bank stability and profitability, which would not be the desire of the national investor looking for value in bank growth stocks on the NASDAQ. One approach was for show, the other was for dough.

As an interesting educational experience for Goober and his SCO, we had difficulty grasping how subdivisions in the desert around the region were cropping up everywhere. There was no vegetation like in Tennessee and the ground was dry, sandy and rocky. Then as we drove in from LAX for meetings one time we saw a first for us. It was a dirt mine. A mine where decent soil was being extracted for use in the booming subdivisions for vegetation purposes. We knew at that point we had seen everything this old world had to offer. What we took for granted in the east was gold in them thar hills of Californ-I-a.

We noted that some of TVB’s contractor customers were beginning to default on those spec house loans and the loss of liquidity and the constraints on bank capital were making it increasingly difficult for our loans to fund in a timely manner. If the homes would not sell, the development financing would also fail. The credit committee began declining larger loan requests in our region that were of a type that were formerly approved. Production officers were beginning to complain again and rightly so. They worked hard to generate the flow of business that was being gradually undermined by the bank’s executive management and Board decisions. We also knew that sometimes management in any business will use that method as a way of downsizing without stating the obvious. There are no exit packages to pay if people leave on their own to take better opportunities. Regardless of the motive(s), the financial situation signaled major issues ahead for our division.

At this point I notified my division CEO of our concerns. He felt the bank would work out of it, not seeing there was a sense of urgency. His response was unusual. Normally he would shoot straight with me (I found out why later). I signaled to him and the Chairman/CEO that I disagreed with that assessment by selling a large block of my stock near the top in the $40/share range. At this point there were still ample buyers as the markets were not yet aware anything was amiss as regulators had given the bank a good rating in their last exam and reported profits and capital were still strong. Since I was not an executive officer, just listed as senior management, I had no legal constraints in doing so. I had only paid $5/share when executing my options. As a result I fully recovered my total investment plus made a profit while holding some additional shares for selling later in a different tax year. There was no mention of it by the Chairman and I expected it would fly under the radar since he and some Board members routinely bought and sold as well.

I was preparing without knowing exactly what was to come, just that “it” was coming. I could feel it.

^^^ This ^^^

Opportunity Knocks

While this was going on, I discussed the situation with my SCO and a key regional sales manager. We agreed it was again time to explore our options. This led to a long dance with a well established large community bank nearby before the Chairman/CEO, a man I greatly respected, informed me that he could not convince his Board and SCO to agree. He clearly saw the opportunity and recommended the venture to them along with another Board member we knew, but they did not as they did not understand the industry and were basically uninterested in working harder and smarter. Disappointed, but undeterred and facing no deadline, we continued looking and kept working. That Chairman/CEO was correct in his assessment. We could have been the profit generator that bank needed to pull out of a longterm downtrend in profitability, which was a shame. It simply scared them to being doing business all over the country in a line of business in which they had no real knowledge.

At this point it is important to state our industry’s reach during those days. In the eastern U. S. there were only a half dozen big banks and a few licensed non-bank lenders like GECC who did more volume of loans annually than my eastern U. S region of TVB did. Most of the industry’s loan volume was generated in the western U. S., with 40% of the total coming from California. Our region was providing the loan volume that ranked TVB as the #1 lender in volume in four states and in the top five in nearly all of other states in our eastern region. There was no real commitment to the industry by banks in the east. If a small business customer could not be financed conventionally they simply declined the loan rather than hire specialized staffing to process the government guaranteed loans. It seemed we were blazing a trail as it had never been done like this before in our region of the country. Even the big banks did not sell the loans as we did, they retained them in their portfolios. The benefit for them retaining on the books was the loan amount that was government guaranteed did not count against their capital, while also earning a higher rate of interest than a conventional loan. Even our state regulators and eastern region FDIC area bank examiners’ minds were blown with how our method worked. So, we understood why prospective banks would be nervous about the opportunity. We just needed to find the right situation.

We had made our team aware we were looking at options and that seemed to reassure them to hang in there with us. A month later the production officer who was assigned to TN walked into my office. He had a potential opportunity that had fallen in his lap that he thought we should pursue. He had contacts in the western part of the state that referred him business that owned a small community bank of about $250 M in assets there. The executive management was intrigued about how we did what we did. One of the four owners was a general contractor, another was an attorney/nursing home chain CEO, another was a mega wealthy businessman who owned a larger bank, and the fourth was the community bank’s Chairman/CEO. They were from the same area and lifelong friends. Even though their bank was small and unsophisticated, it was over twice as large in assets as TVB was when we started with them along with a stronger capital position. We knew it was sufficient to get the job done as well as how to do it.

I told my guy to go ahead and visit with them to tell them we were interested in talking. He was already working on a couple of referred loan requests of their clients for lodging type financing such that even if it amounted to nothing, his trip would be worth the time. Two days later the bank’s Chairman/CEO gave me a call and asked if they could fly over and visit in a few days, to which I was happy to oblige. We talked a bit and I told him to contact the Chairman/CEO of the area bank who had passed on the venture since he had offered to be a reference for us should we find another opportunity. He responded that they knew each other well from the Tennessee Bankers Association meetings and that he had a lot of respect for him.

When the day arrived I picked them up at the airport. My SCO and I had spent time reviewing their bank’s financial call report to verify they had the capital and liquidity to do the deal, which we confirmed. They had too much liquidity to be as profitable as they wanted as there was a limited amount of business activity in their rural markets. There were three of the four owners and their CPA present in the meeting. The wealthy businessman chose not to come. We gave the group a quick tour of our offices and made introductions since they were already referral sources of bank business. This was a normal practice with our customers and referral sources.

We then retreated to a business associate’s conference room in the same office building. I went through the business methods and gave them a five year financial projection to review for any questions. Their eyes fell out of their heads and huge grins crept across their faces. Their CPA became very engaged with me at that point. The others asked a few questions and wanted to know how a transition of our people would work along with timing. I asked about their missing owner. They said he was reticent about the opportunity, but stated he would not stand in their way if they wanted to do it. The three owners said that was not unusual for him as he usually dealt in larger endeavors and owned a minority share of 40% with the three of them owning the other 60%. They had the authority and Board control. The missing owner will be discussed again in a future story. But as a spoiler, he did not come because he would not understand it and his pride would not allow him to admit it.

We had a deal on the spot in one meeting. It was time to take control of our fates as a team and they were well past ready in their minds to accelerate the growth of their bank. The Chairman/CEO was a member of his hometown UMC, so we shared a common bond. I knew he was a well liked family man and respected banker as my friend, RB Summitt, had known him for years and verified it to me. The contractor owner was very entrepreneurial, which is important for our line of business. As a result they had no problem at all with expanding nationally in scope. They asked if my SCO, National Sales Manager (NSM) and I wanted employment contracts. I told them that we did not. We preferred to work from a position of trust in each other. If it did not work out for either side, we each needed to be free to pull the plug on it. They were shocked and agreed. I asked that each employee I approved for hire to receive an offer of employment from the CEO that stated a. job description, compensation arrangements, benefits and so forth. I would be titled the Division President with my SCO and National Sales Manager, who was my current regional sales manager, also becoming executive officers of the bank with asset procurement authority for new offices including the leases. They agreed to all of it. They wanted us to know they owned the bank’s computer operating system as a separate company that had a couple of dozen of other small banks contracted as customers. They wanted us to know it would need tweaking to accommodate us, so there would be no surprises.

All that was left was to implement the plan once the employment offers were signed by the three of us. Goober Gump and friends had arrived at our destination just like Goober’s brother, Forrest, did during his day.

Time To Peel Our Own Banana

Monkey see, monkey do. Figurative, but almost literally speaking. The whole small business journey since the equipment company fiasco had been just that. I had learned so much. My personal strategy to take one or more steps back in compensation and position to move forward three had worked to perfection as our growing team and I learned more and became more cohesive, thereby increasing our value in the industry. We were winning financially for our employers as well as for ourselves. We just had to remain flexible, open to change, and realize one important truth about our role with each bank employer. Which was…

We ignited insatiable greed within the hearts of owners and executive management everywhere we went. We were like cash cocaine they snorted. Seriously. Goober Gump had just become the head of a legal, figurative cash cartel.

Achieving 35+% Return on Investment (ROI) on each transaction does that in the banking industry, which typically has much smaller margins and ROIs in most lines of business while using OPM. We told them up front that economic downturns could sharply reduce our profitability, yet our recovery from it would be reasonably quick. They were informed to remain flexible and that the business worked in quarterly cycles. We could not do in reductions in force on a whim and be able to rebound quickly because the employees were specialists, training was time consuming.

Looking back, in the first two California bank employer situations, the bank’s executive management and Boards intended to sell out to larger institutions. We were just a contributing means to an end to that purpose and knew in advance of its likelihood. In the later TVB situation, we were means to a different end. They wanted to become a major player in SoCal as a traditional bank and were a long term hold as an investment. Which meant our division would have been deemphasizedexpendable just like the others if their primary goal had been achieved.

The exit strategy of selling the bank worked better for what we provided than for the later. Booms and busts of the economy highly affected its profitability and balance sheet management requirements. Being the primary driver of income would be a major issue for a small publicly traded bank wanting to be a bigger fish in the highly competitive SoCal pond. In contrast we could not afford to get caught with their financial issues messing up our delivery system because their egos would not allow them to properly manage their bank.

We knew as a team, we were never employed by the employing bank. We were employed by our industry. In essence we were contractors or even the non-violent mercenaries of banking.

I gave a heads up to my division CEO. He had been frequently absent in recent months and evasive about what turned out were his plans of starting his own loan origination, processing and servicing company in the industry that contracted to banks. I turned in my notice to him. He was very understanding and not surprised. He briefly discussed the new venture that he was starting as soon as his employment contract with TVB ran out later that year. He stated it would be a couple of years before he could offer me a role. He seemed relieved I had the new option and would be moving the eastern operation over time.

I came into work one morning as I worked out my notice and saw I had a voice mail. It was from the irate TVB Chairman/CEO who proceeded to denigrate my choice of future employer and asked me to reconsider in a strained, pissed off voice. He said the TN bank was too small and unsophisticated to do what we did. Ironic, since his bank was half their size when we started there. He then said some angry comments under his breath as he hung up the phone that I could not make out. 😎 I never returned the call. I considered it just another former ego maniac employer who disrespected the very guy and his team who had delivered serious profitability to their bank while not being willing to humble himself to admit he needed to make positive changes. He made it easy to move on and I would never be listing him as reference in the future anyway.

I left TVB in the spirit of Johnny Paycheck…

C’mon, I know you love it.

Conclusion

During the course of these stories I will periodically go back and update readers on what happened to people and employers from the past. That will be happening again in the the near future. In TVB’s case I will post a link to give readers a more technical picture of where their path of choice led and why. Coothie will be one of the few readers that would probably enjoy reading that financial and operational (spoiler alert) autopsy. 😀

I had reached a point in life that I was tired of the lies, manipulation, and ego trips of those who felt they had power and control of the lives of others through their employment. I guess age and experiences being what they were made me less tolerant of being dependent on azzhats.

It was time for me to step out of my comfort zone. It is really easy to blame others when things do not go the way you think they should or to your personal benefit. I tried hard not to do that, to recognize the good and value of each situation. Yet, when conditions soured to the point of harming our team, the Lord had once again opened the door for that to change.

In my humble opinion obedience was the reason.

Job 36:11 – If they listen and serve Him, they will end their days in prosperity, and their years in happiness.

Isaiah 1:19 – If you consent and obey, you will eat the best of the land;

II John 6 – And this is love, that we walk according to His commandments. This is the commandment, just as you have heard from the beginning, that you are to walk in it.

And the big one:

John 14:15 – If you love Me, you will keep My commandments.

And. Here. We. Go.

I could not resist.

Back In My Day: Civilized War – Banks Are Like Carter’s Little Liver Pills

There’s an old expression that when things proliferate beyond reason that they are like Carter’s Little Liver Pills. Carter’s had an infinite number of little pills that would cure what ails ya…

Here they are 80+ years after cranking up, while still selling the same schtick.

Which leads to the following short summary history for those unacquainted with Carter’s.

https://www.southernliving.com/culture/carters-little-liver-pills

The company’s marketing was off the charts great. That many of us still remember them, their slogans, and commercials is a testament to the promotional brilliance.

It was not their only product, however, it was the primary product line of a plain old laxative to make you poop.

Banks Are Like Commodities (and Laxatives)

Sort of like the standard active ingredients in stimulant laxatives, such as Biscodynl (Carter’s) or Senna, it is difficult to discern many differences in commercial banks. They have a perception of added value, much of the time the customer cannot determine why one might suit their needs better than another, and they can make you feel like you have the runs.

In total there are over 4800 federally insured banks. In the mid 1980s the number was 10,000+ higher. So, there has been a steady decline since that point. Why? The federal government and greed of bankers has taken over. Various regulatory and tax acts have made it difficult for smaller banks to survive as well due to government (i.e. politicians) creating financial meltdowns (bubbles and busts) of various segments of the economy. Add in the profit (greed) motive of starting a bank, growing it and then selling out to a larger bank who wants the market presence.

For example, the second largest bank in the nation in asset size is Bank of America at $2.4 trillion. They have 6,314 locations in 38 states and 2005 cities. The vast majority of banks are minuscule in locational presence compared to B of A. However, most all have branch networks to increase access to customers. The global number for bank locations in America is approximately 77,000 in over 9,900 cities. This number of physical locations is not expected to grow significantly due to online banking. However, the number of chartered banks is expected to continue to decline as smaller institutions are acquired or closed by regulators. Why? Same reasons as above; the federal government and greed of bankers takes over. The politicians love to be in the pockets of big banks, so they pass regulations to make it more difficult and costly for small banks to comply. That reduces competition and innovation at the local level. Which turns urban as well as community banks into commodities.

Even with this happening, there are still more locations and methods to deal with banks than Carter’s have little liver pills. The next topic goes into the large presence of credit unions.

Community Banking Evolution

As I was entering the banking industry after graduating from college I was taught one important fact of that time. To the average customer, the teller was the bank. Of course that was nearly 50 years ago and banks were slow on the innovation side and highly regulated and controlled. The vast majority of customers never dealt with anybody else, and when they did it was the teller who directed them to the person(s) who could handle their other needs. So, who do you think were the lowest paid staff in the bank? Yep – the tellers. 🤪 The face of the bank that average customers trusted most were some of the least valued by management and ownership.

Times have changed and with it the relationship aspect of banking. Yes, relationships are still important in rural market community banks and flyover states. However, even in those markets it is becoming a thing to bank electronically and only use local banks for cash, demand deposit accounts, small business services and safe deposit boxes. Mortgages for homes can even be done online now with the better rates and terms coming from mortgage companies dedicated to the purpose. Vehicle loans are generally done through dealership provided indirect financing and credit unions. Credit card applications are everywhere online and in the mail box. Other small loan options are abundant with finance companies for less credit worthy small loan applicants.

Credit unions grew rapidly during the downtrend of community banks. As their regulators agreed to liberalized rules for joining, more and more retail consumer based accounts moved to them as well as small business checking and savings accounts. They returned the relationship aspect of banking of the past and filled the void left by banking industry consolidation. There are currently over 4800 credit unions with 20,000 locations nationwide. They are not involved in commercial lending by regulation. They are regulated by the NCUA and accounts are federally insured in a similar manner as with banks and the FDIC. However, their numbers reduced by around 2500 in the past decade as the economy worsened, cryptocurrency arrived and the regulators tightened down on their practices and capital adequacy.

In reality, nothing has materially changed for customers and members with banking and credit union services in terms of access. It just shifted around changing its shape like an Amoeba, or maybe like a Coronavirus. Where it changed most was within the industry. The one size fits all as well as being all things to all people approaches – died.

The first and overriding principle to understand is that bankers use OPM (Other People’s Money) to make money for themselves and stockholders. To protect OPM (customers), banks are regulated in the manner in which they may invest the OPM. But, who controls the regulators? Ultimately it is politicians in Congress and the administration of the POTUS. Who do they work with to produce the results they seek? The federal government’s privately owned agent – the Federal Reserve.

Enlightening isn’t it? Once again, if you have not read this article by Badlands Media contributor, American Hypnotist, now would be a good time to do so.

https://badlands.substack.com/p/do-we-have-a-contract-with-the-federal?utm_source=post-email-title&publication_id=1135129&post_id=105437643&isFreemail=true&utm_medium=email

With these trends in mind that extended back in my day to the 20-25 years ago timeframe we find ourselves in this story; it finally became increasingly clear to me that to succeed and help customers meet their goals using my abilities and experience, I needed to focus on transactions as compared to relationships. The world was changing and people were becoming more selective as they learned how it all worked. Competition had increased the options they had available. In addition the politicians and federal bureaucracy were beginning to exert more control and influence with the ability to accelerate or throttle lines of business as well as entire industries and segments of the economy in the blink of an eye. As they did so they strongly impacted all aspects of society. Instead of working for We the People, they were openly working for themselves and their cronies. The rest of us were left with the scraps unless we could work harder and smarter than them.

I realized then that when the Lord saved me from my mistakes and sins, He opened the door to a career that fit the trends and my abilities exactly. I just needed to pay attention. His ways and timing are always better. Always.

Imperial

All I can say is if that bank had chosen to stay the course and keep doing what they were doing back in my day, I would have chosen to work there until retirement if that is what the Lord had in store for me. Everything was done win-win. The attitude was to develop and execute your plans, here are the tools. They had the deceased NFL owner Al Davis’ of the Oakland Raiders mantra, “Just win, baby.” The lines of business that won and were more profitable received even more access to capital and tools to grow. Let’s see, where have I read or heard about that approach before? Oh yeah, Matthew 25:14-30 and The Parable of the Talents.

They were not saints to work for, however, they employed the principles of the parable. It was a great place to work, no micromanaging headaches. In general they treated their people well and with respect. You felt valued and appreciated. They were not legalistic. They recognized personal and family needs at times would take precedence. They just asked that you do well at your work and be profitable for the business. Just meet or exceed expectations and all would be fine.

As a result, we were able to build a strong eastern U. S. region credit administration support staff to go with eight experienced production officers. We had become active in all 50 states as a division. Our regional operation would be the core group that stayed together for the next decade. They were the foundation. We all helped grow the Imperial operation toward the Top Ten nationally in loan volume with a plan in place to be #1.

And then one day a couple of years into it, they announced they were selling to a big top twenty in assets bank out of Detroit, Comerica. We were not surprised, but had hoped for a longer run with Imperial. My CEO called and asked me to head to Cali for transition team meetings. It would be him, our division SCO and me working with Comerica’s team with similar roles represented on their side. Our operation was twice as large in scope and annual loan closings. Yet, during the process we learned that they would get the senior leadership roles. To the victor went the spoils. Not very wise on their part, so, oh well…

Here we go again.

The CEO of Comerica’s small business division was a middle aged woman who was a former elementary school teacher for much of her work life. She was based at their regional bank headquarters in San Francisco. Their national sales manager was a leftover from their acquisition of a Dallas based bank previous to ours. Their SCO was a doofus, but located in San Francisco with the schoolmarm wannabe. He was her beta lackey.

At this point my CEO was considered “the” go to expert nationally in the business. Our operation was fine tuned and highly profitable. Theirs was better than BOW, but not nearly on our level. I could tell our CEO was probably not going to be willing to report to schoolmarm, but once again we would have to play along until something better developed.

The transition meetings were filled with some of the silliest school teacher type attempts at bonding I have ever witnessed participation by adults. Absurd. She was also quick to tell the story of how she got into banking by being the teacher of a Comerica bank exec’s child. It was intended to demonstrate how “in” she was with the org. She obviously had no idea she was a minnow in the industry who was swimming with sharks. None of us commented. Didn’t care. Moving right along.

She finally gave up attempting to school her kids and let the rest of us actually do the transition work. I kept my cool, but stayed detached from her attempts to bond. When I returned, I informed my SCO and told him he was next up for credit meetings in Detroit.

Upon my SCO’s return, his first words to me were that they were not a fit at all. He felt he had wasted his time. We learned once again, just like BOW, that the acquisition was about increasing their California banking presence and using our programs to appease politicians and regulators in the the states where they had a presence. Imperial had a strongly profitable division involved in venture capital start-ups in the tech and medical research industries that held an attraction as well.

Our division CEO told me he was already in discussions with three other options. He would keep me informed and to just keep working. To Comerica’s credit, unlike BOW, they did not overstep their authority as it applied to our pipeline of loans being approved or in processing to close in Imperial’s system. Their acquisition of our bank would not close for another 6 months, so we were to continue to operate as is for the time being.

Which was all the time we needed.

Temecula Bound

The winner of the now recurring bank flavor of the month was a small, five year old national bank in Temcula, CA. Since we acted like the wild, wild west in our industry, we might as well join a bank in the old west.

The Chairman/CEO was a highly experienced banker who had been the CEO of another area bank for many years. He had left to start our future employer, Temecula Valley Bank. As the largest stockholder of a publicly traded bank with majority control by a consortium of area stockholder friends and a handpicked Board, he was free to steer the bank into the lines of business for which he had expertise. One of those lines was ours. He understood everything we did as his former bank was a major player with it in CA. A unique opportunity was provided, which included granting stock options to key senior officers in our division. We knew we could manage the balance sheet of the bank with all of the planned growth. Building a deposit base would not be a problem in this high growth area of the country and with the Chairman/CEO’s connections.

The stock options pushed it over the finish line. Our division would be a major driver of profitability, which would enhance stock prices. The Chairman/CEO was wanting to emphasize construction and development financing in single family homes in hot SoCal markets. In so doing it would grow the name and provide places for future branches. The plan was also to be added to the NASDAQ to attract additional capital in the future.

Having significant stock options was a really nice benefit. My role and compensation package were essentially the same – build the eastern U. S. presence. Just keep doing what we do.

Parting Is Unsweet Sorrow

Meanwhile back at Comerica, our new schoolmarm wannabe CEO was making the rounds of her expanded playground. She was trying to build a relationship with us and other regions of our division. You could tell her spidey senses were telling her it was all about to fall apart. After our CEO left to go to Temecula, she and her sales manager were calling me and visiting routinely. During one such visit at one point she ridiculed southern women and the Bible Belt in an informal conversation after lunch. I responded, “Yeah, we all talk slow because we think slow. Jesus understands.” She then apologized profusely and said it was a poor attempt at humor. Nah, she meant what she said. She also knew she stepped in it with me. Later in a phone call she tried dangling a high salaried compensation package to get me to stay, but the inability to keep and attract production officers with the credit constraints and big bank attitudes would eventually kill the operation. So I declined citing the ground floor stock option opportunity at TVB. She attempted to deride that as well, which was about as dumb as it gets. Yeah, be sure and deride the analysis of the senior manager you are trying to retain and just formally offered to highly compensate. Jeez…

Now you know why I cannot stand Nancy Pelosi even without regard to her politics. Schoolmarm and her came from the same mold.

I began working out my notice. After I left, our staff of a dozen employees began leaving one at a time to join me in our new offices a half dozen blocks away. Over about four months they transitioned in until the last one turned out the lights on the Comerica operation for good in TN and the eastern U. S.

More Banking Wars Drama

For the first time in our years of working together, I witnessed my division CEO friend being fooled by his new boss, the Chairman/CEO of Temecula. The old guy pulled off a bait and switch on us. He promised one set of credit policy and parameters pre-employment that he had no intention of delivering. He made it worse on our region by only having our one SCO on the newly formed three person credit committee for the division. That meant that any loan request over $500 K that was real estate secured or $250 K for non-real estate secured must be approved by the committee. This was half the amount of my SCO’s approval authority at Imperial, which was an agreed condition for our joining them. Since the other credit committee members knew nothing about business loans in the eastern U. S., we were placed in an awkward position with our referral sources and customers. The main office could and did begin throttling our volume, making it difficult to get deals done that were never a problem in the past. Our loan collection and default rates had been historically good and well below government agency averages. There was no justification for the tail wagging the dog other than unjustified fear or big egos or both.

I figured it out quickly, especially when our production officers started screaming at us. We had hired the five best from Imperial/Comerica in our region and at this point had added another four. Business was growing and this was throwing a wrench into the machine at exactly the wrong time. It was time to take a stand with my CEO and the bank Chairman/CEO as our eastern U. S. operation had been noticed by other potential employers based on the calls from recruiters.

We had options and did not have to work for con artists.

So I fired off a memo to both that include the “bait and switch” observation. To say the Chairman/CEO got his panties in a wad would be an understatement. My division CEO was placed in an uncomfortable position, which I considered before doing it. However, he was the one who had chosen this employer and was being paid the big bucks. To his credit, he stuck by me and told the Chairman/CEO that if I was terminated, he would also leave. He told the guy that we had other options than working for them, which was true.

Power base established.

The bank’s execs and Board got their heads together and suddenly decided they could modify credit parameters and give my SCO increased authority, doubling the previous levels to what he had at Imperial. This gave the production officers what was necessary to retain them and also incentivized them to prospect for more real estate secured loans that were obviously preferred by the Chairman/CEO and Board. Things settled in and we began doing what we did.

Occasionally we would be brought out to Cali for division meetings with the Chairman/CEO and his execs. The visits were cordial, we were making them good money and the move to the NASDAQ was completed. The last time my SCO and I went, they elected to have it at the Bellagio in Las Vegas. Having meetings previously in Reno with SierraWest brought back memories of that type of environment.

Such a sad environment in Reno during those days in my opinion. Anybody who knows or frequented the mall type enclosed casino district downtown back then understands. It never shut down, at 5 AM it was like 10 PM. No clocks, no sunlight, and very few smiling faces as people sat with drinks in hand at the tables or slot machines to toss in their money on games of chance. This time we would be in the real deal of glitzy Vegas, not the Reno wannabe, and I had been there before with my ex back in the late 1970s. I knew what to expect and I had changed greatly since those days. I just wished this guy was still alive and performing there.

Yep, had to…

Even in my more rogue days I was never a gambler. For me, life is too big of gamble as it is, much less risk what was so hard to gain. Regardless, I never condemned anybody else for their choices and that included TVB’s choice of venue for the meeting. However, I was not going to change me either. So while the others began eating, drinking and talking; my SCO and I prayed silent prayers of thanks before beginning our meals. At first the others were puzzled, but as the days rolled on they became quieter and even respectful. Our evenings were spent back in our rooms with work and calling home, not out carousing and gambling with the rest of them.

However, one evening the Chairman had all of us head out to one of the popular, high end area steakhouses, Smith and Wollensky, frequented by some of the rich and famous. As we dined we looked across the room and there was this guy.

Coach K – Hall of Fame head coach of Duke

He was very gracious and spoke briefly to many of us in the restaurant. Folks were reasonably respectful and after quick visits everybody left him alone to enjoy his meal with his companions.

After our return and over time the bank’s execs had begun using our divisional profitability to expand into their desired financing of homes in SoCal as well as adding branches. Over time we began noting slower coordination of funding our closings as well as a subtle tightening of credit approvals on larger projects. It was something I needed to keep my eye on. It was an indication that the bank’s liquidity was drying up from over expansion into SoCal real estate financing.

Conclusion

We had no idea in our region’s offices that our careers were getting ready to dramatically change in a surprising way. We will dive into that next time. Until then be well and be blessed.

Back In My Day: Goober Gump’s Misadventures – A Box of Assorted Chocolates

Before we move on to Goober Gump’s more recent adventures of the past 25 years or so, it is time to revisit some lessons learned through the years, some politics, some faith journey observations, and “wonder what happened to…” answers from the period. Instead of meandering prose, I will go point by point. Goober’s own version of “Momma said…”.

Lessons Learned

Most of us want to live in freedom and peace. We disdain conflict and oppression as natural instincts. Our opposition knows that and uses it to their advantage until there is major pushback.

Never trust the government’s word for anything.

I am responsible for me. Pointing fingers at others solves nothing.

The first step to personal freedom is to accept you are going to physically die at some point. Accept it, then you will be more prepared for when it happens.

Many of us take human interaction too casually. Many of us simply do not realize or even care how our actions and words impact others around us. That is a choice we also make – to care about the well being of others or not.

All of us deal with something in our lives that had or is having a negative impact. Nobody is exempt from trouble.

Honest intentions matter even if we mess up the delivery of what we intended.

It is what it is. To pretend it is not, will not change what it is.

Truth is truth and does not need any of us to agree with it to be true. I learned I liked being on the side of truth no matter the cost.

Avoid interaction with people who frame all of their arguments. They are not interested in discussion or considering other thoughts, just persuading you to accept theirs.

Law enforcement and the judiciary may be mercenaries as well as controlled opposition at times.

Politicians create situations while passing and using laws to achieve personal and sometimes, nefarious ends. Law enforcement and judiciary play their parts in making it happen. At times the alphabets are used by powerful people who will move you out of their way, ruin you and kill you if necessary to achieve their goals. J6 was all you needed to see if you did not know it before. Stay out of their crosshairs if at all possible, but never back away from the truth if you believe in eternal life.

If you can retain your integrity and values while being involved in politics, law enforcement and the judiciary – America needs you desperately.

Powerful people and politicians create conflict to make even more money and gain even more power that compels average folks to go to war, figuratively and literally, to defend their families, communities and nation. Those same powerful people then take credit for the positives, if any, that come from the warfare while enriching themselves regardless of the outcome. Their names go into the history books, not yours. Choose your involvement wisely.

Sacrificing principles and truth for the sake of reconciliation or to build consensus is not a good idea.

Music can help heal the mind and soul. It may also be used to lead you astray and cause depression and even death. Choose your music wisely.

Those who have accomplished much in their careers and lives have common characteristics. They identify what they want to accomplish and what drives them to succeed. They then put in the work and do it their way. In virtually all of their cases in this BIMD series, they paid it forward in some way(s) that have provided great benefits to others. I have learned that most do it because they truly care and want to leave the world a better place.

Money can corrupt our lives if we allow it. Money is a tool, not an end goal.

Don’t overthink things.

Embrace change.

Some people delight in the destruction of others regardless of having reason to or not.

You can recover from personal disasters and be restored in a manner far beyond your greatest expectations. Never. Give. Up.

Politics

Some people are willing to sell their souls to be elected (appointed) master over others.

Many elected officials have honest intentions to serve their constituents’ best interests when first elected. I have learned this view frequently changes to one of being served and dictating what they want to have happen during the rest of their careers.

Most politicians become corrupted by special interests, so they enter office compromised in some way. They build alliances along the way to being elected and add to them afterwards. They richly profit from this activity.

The Uniparty in America is real and has run government for many years. They have a system that confuses the general public, yet is well known to them in playing their parts.

If you do not play politics well and are not willing to dance with the devil, stay out.

This country and parts of the world are ruled by The Big Club. There are a number of smaller clubs that contribute members, support and assets as needed to accomplish the desires of Big Club members. Many of the American Big Club members laugh at the mention of being Democrat or Republican. They are neither. They run in the same circles and are friends and business associates.

Election cheating has been a thing in America for over 200 years. The process utilized has evolved, but the intent is still the intent – appoint who serves The Big Club the best using whatever method is necessary.

Faith Journey

I learned the greatest of these is love, however, it is faith in Jesus that sustains me.

It is on me to investigate and consider all information and data to determine truth or lies. I choose to do that through the instructions of Jesus. That is my world view. Others may choose to take different routes. That choice is theirs to make. You own your choice.

You gotta serve somebody, just like Bob Dylan sang. If you don’t choose who, the choice will be made for you.

God’s natural creation is beautiful.

I chose one day who me and my house would serve just like Joshua. Joshua 24:15.

Life is in the blood. COVID is a current reminder. The Cross is the permanent reminder. No greater love has ever been expressed than at Calvary.

As a citizen you either believe America was dedicated to God in its founding documents or you do not. It should be obvious why that is important. Nations have risen and fallen throughout history based on that belief and choice.

There was no known Jewish presence among the framers and signers of the Declaration of Independence and Constitution. There was a total population of around 2500 Jews in America’s population of 2 million people during those days. Only about 100 served in our military during the fight for independence. As a result the God that is referenced in those documents is attributed to the Christian view of same. Just an observation to ponder and one I will be bringing back when the Civilized War series returns.

My life and those of my loved ones, friends and co-workers changed noticeably for the better when I made the choice to totally give all of me to Jesus and follow Him. More to come on that subject in the near future.

You can KNOW that He is God and that He loves you, forgives you and will never forsake you. It is entirely up to you. He will not force Himself into your life, you have free will. However, he will respond if you do.

Wonder What Happened To…

My ex? Married to her third husband, the local banker dude her parents targeted before me many years ago. Wish they had succeeded. Her parents have passed away.

Many of my friends in Arkansas who were not tied to the area by family associations moved away. The SAC AF base was closed and with it went a thousand related area jobs and dozens of businesses who could no longer survive. Many farming families in the region sold out to corporate farming operations. The community has declined significantly in population and become a blip on the radar screen of life. Fortunately for the locals, the Bush’s Beans canning operation remains.

The banking officers and staff I worked with in East TN back in those days have also moved on via relocation, leaving the industry and retirements. It was a tumultuous time in the industry with mergers and acquisitions all of the time. Gone are the older, experienced bankers who had seen the goods and the bads; the ups and downs of the economy who could help guide their customer bases through the dangers. They were replaced with lower paid younger, inexperienced versions who were trained to be order takers with all decisioning made via computers from input of people located hundreds to thousands of miles away. Cookie cutter banking became a thing. Decentralized main street banking gave way to globalist controlled. It extended to government controls and regulation through various acts of Congress and the White House that have led to the bubbles and bursting of same that wrecked havoc on average Americans. Community banks did not die out as the feds and globalists wanted. It was difficult for many due to the compliance needed to satisfy the regulators, so some sold out to larger institutions. However, many flourished and grew stronger as customers became highly dissatisfied with globalist versions. Many other customers found refuge in using credit unions, which exploded in number nationwide. Where there is a will, there is a way.

Equipment Company

The shisters fell victim to the weight of their lies and criminal activity over time. It was totally shuttered back in the debt market and economic collapse of 2008. They began closing locations a couple of years after we settled the lawsuits in the late 1990s. The bank that held their debt finally woke up to the fact they had been conned and began to systematically squeeze them by making them comply with their loan agreements with no waivers. During our lawsuits they believed the lies to some extent until the truth became apparent. Like most bankers they needed to reserve enough potential loss on their own financial statements, so they stalled until it could not be stalled any longer as the regulators could see the company was a fraud. After which they deemed themselves insecure per the loan agreements and called their loans due immediately. The company chose reorganizational bankruptcy that allowed them to liquidate over time and cease existence. Good riddance.

Shocker – FIB, DODGE, IRS, EPA, etc. did nothing to the company and its owners and operators despite all of the criminal activity. I presume their attorney/Chairman called in favors or bluffed his way through it. The only difficulty they faced while still operating came from the Chairman of the state’s Underground Storage Tank governance; a long time local friend and business during those days. He made sure they were audited and tested regularly for the period they remained in business, which made me smile.

The company’s attorney/Chairman lost his golden goose that laid the golden egg and it was not long thereafter, his law firm went with it. Our referral to the Board of Professional Responsibility dinged his record and word spread within the legal community that alerted many to the snake he really was. The firm lost clients and could not attract new ones. Other attorneys in the firm left until there was only he and his son. They closed it down soon after as he could no longer milk the equipment company for any income. He is in his 80s and still resides in the area, albeit in poor health.

The patriarch owner of the equipment company passed away soon after the termination of the lawsuits to very little fanfare. He was a miserable human being. His wife is still alive and in her early 90s. Her GM son, now in his early 60s, is still around doing nothing along with his older brother. When their mom dies they will probably sell the family farm and live off of the proceeds.

My attorneys from the lawsuit are nearing retirement, yet remain active in the firm. Good guys.

The FIB agents retired and moved away from the area. The assistant US attorney retired and remains in the area.

Arkansas Mafia

The Arkansas mafia deserves a special section. Several from the cast of characters bit the dust and aged out. A few went to prison like Jim Guy Tucker who was governor after Slick. He was convicted in Whitewater and had to leave office. Mike Huckabee followed him as Governor. Note: it took nearly 20 years for Ken Starr to take down some of the Whitewater participants from the time the mess began as I was leaving my Little Rock bank employer. A summary version that would satisfy Democrat viewpoint is provided in the link below.

https://encyclopediaofarkansas.net/entries/whitewater-scandal-4061/

Tucker was another of the Harvard educated crowd of politicians and globalist business people in that state. This was a common denominator along with other liberal college and graduate school grads as we have seen play out over the years. Harvard, Yale, Princeton, Northwestern, Georgetown, Vanderbilt, etc. are all listed on resumes. A handful also came through West Point and Annapolis. The Harvard educated politicos included Tucker and Wilbur Mills (of Fanne Foxe stripper fame) as well as Sen. Cotton today. As the older heads left the scene, their younger lieutenants stepped onto the stage. Slowly over time many were fired by voters as Mike Huckabee, a wealthy businessman/attorney named Sheffield Nelson and others remade the GOP. The same Sheffield Nelson who was a Dem during the Clinton rise to power who switched to the GOP and became a mortal enemy of the Arkansas Mafia and its wealthy kingmakers; patriarch, Witt Stephens, and brother, Jack, that I featured in a previous BIMD. Not only did he pizz off Witt and Jack, he switched to support the GOP when the Stephens had just switched horses to the Dems and Clinton. It’s highly doubtful Sheffield was ever invited into membership at Augusta National by Jack as he had cut himself out of membership in The Big Club. I doubt he lost any sleep over it.

For a more fair link on Sheffield Nelson see below.

Sheffield Nelson: An Accomplished Life

To add more “color” to Whitewater and Nelson’s anti-Clinton and supporters position, this Newsweek article from those days provides it.

https://www.newsweek.com/source-whitewater-190308

It took a lot of principled men and women to turn Arkansas around politically. When they did America began to be served well. Which led to this lady bursting onto the scene as a future leader with whom many Americans can identify.

https://www.breitbart.com/politics/2023/02/02/gov-sarah-huckabee-sanders-deliver-republican-response-bidens-state-union-address/

By being loyal to President Trump and never backing down from the fake news media, she earned her place in American history. The citizens of Arkansas voted her into the governor’s mansion by a 2:1 margin in her first run for public office. The move away from liberal politics and politicians has been completed in that state and the remaining Establishment types are next on the removal agenda. Once the general public recognized the indoctrination and brainwashing of students by liberal colleges and graduate schools, their presence on a political candidate’s resume in the state became disqualifying. Other than Cotton, the vast majority were educated in the state.

Sort of a strange and ironic observation is that three Arkansas governors were born in the same small town of Hope, AR; one of which who became POTUS. Even Clintonites Mack McLarty and Vince Foster were from the town. The town has a population of less than 9K today and is located in a rural nowhere in the southwestern corner of the state. With their elections, you could not pick two families and supporters that are more polar opposite in their morals, ethics and politics. Which is similar to the rest of America. The good news in that state is the white hats replaced the black hats.

Conclusion

We will resume the steady march toward DC and Wall Street with the next BIMD. Of course Goober will need to make a left turn to Cali along the way. He wouldn’t be Goober if the journey went without incident. Oh well…

A Higher Loyalty: Hongkong and Shanghai Banking Corporation, a.k.a. HSBC

Wherein we postulate that the real driver of James Comey and Spygate comes straight out of CHINA-PWNED BANKSTERISM – that the Clinton relationship to China may actually be “handled” via HSBC, and that the fact that the entire international cast of Spygate is nearly perfectly matched by the amoeba-like shadow of HSBC is no accident.

So WHO or WHAT is HSBC?

AND I QUOTE:

HSBC Holdings plc is a British[6] multinational investment bank and financial services holding company. It was the 7th largest bank in the world by 2018, and the largest in Europe, with total assets of US$2.558 trillion (as of December 2018). HSBC traces its origin to a hong in Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991.[7][8] The origins of the bank lie mainly in Hong Kong and to a lesser extent in Shanghai, where branches were first opened in 1865.[1] The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation.[9] The company was first formally incorporated in 1866.[10]

HSBC has around 3,900 offices in 65 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, and around 38 million customers.[11] As of 2014, it was the world’s sixth-largest public company, according to a composite measure by Forbes magazine.[12]

HSBC is organised within four business groups: Commercial Banking, Global Banking and Markets (investment banking), Retail Banking and Wealth Management, and Global Private Banking.[13][14]

HSBC has a dual[15] primary listing on the Hong Kong Stock Exchange and London Stock Exchange and is a constituent of the Hang Seng Index and the FTSE 100 Index. As of 6 July 2012, it had a market capitalisation of £102.7 billion, the second-largest company listed on the London Stock Exchange, after Royal Dutch Shell.[16] It has secondary listings on the New York Stock Exchange, Euronext Paris, and the Bermuda Stock Exchange.

https://en.wikipedia.org/wiki/HSBC

I had NO IDEA that this company that hired James Comey was CHINA-RELATED until I began writing this post. The reason is that I never see Hong Kong, Shanghai, or China ever mentioned when HSBC is being talked about. ENGLAND and EUROPE are usually hinted at. Thus, to me, HSBC was always just some “European” bank. But yet – well – Hong Kong and China – possibly being almost the same thing to the ChiComs per their propaganda – are IMPORTANT at the very least in HSBC.

My revelation about Comey and his relationship to HSBC being CRITICAL in understanding Spygate stems from my recent time in Paris, mentioned earlier in my post about the cab driver there.

When I was in Paris, I saw very EXPENSIVE signs and ads for HSBC almost EVERYWHERE – so much so, that I assumed it must have been some kind of FRENCH BANK. Well, not quite. But nevertheless, the main impact of all these signs was to IMPRESS ME with the POWER of HSBC.

How could Comey even THINK of resisting that stuff?

I mean, seriously – how do you TALK BACK to this shit when you’re just a guy like me on the internet who CAN – [ barring some minor attempted outsourced GUNPLAY, “vide infra” ] – much less somebody who actually WORKED FOR IT?

HSBC – whose fortunes are largely controlled by the CHICOMS – wants to take away your GUNS? Hey – it might actually HAPPEN. And if a few Americans are killed in the process…… Well….. Not thinking these people really CARE all that much.

Suddenly, the idea that Comey had WORKED for HSBC, began to make me think that maybe they were still INFLUENCING HIM – even if only in his LATENT WORLDVIEW.

And then something CLICKED. HSBC was even MORE connected to one of my weird little GUN SET-UPS – which I have assumed were FBI-related – than even “Epstein-related corporate entities”.

“Mmmmmmmm-hmmmmmmm.”

Suddenly, things began making sense. What if the FBI has been TAINTED by HSBC after Comey’s time there? What if it’s not “THING 1” but rather “THING 2” that has been mucking with the FBI from the inside?

CHYYYNNAA – and maybe LONDON, too.

Perhaps not right NOW, with Director Wray in charge, because Wray has been very aggressive in taking on the China threats which Mueller and Comey tended to ignore. But IF the HSBC taint in the FBI was deep and subtle, it would explain a lot.

And then there is this:

HSBC Money-Laundering Case Haunts Mueller’s Prosecution of Manafort

Why Mueller, Comey, Loretta Lynch and Eric Holder let HSBC walk on criminal money-laundering crimes in exchange for $1.9 billion fine

https://www.newswars.com/hsbc-money-laundering-case-haunts-muellers-prosecution-of-manafort/

LINK: https://www.newswars.com/hsbc-money-laundering-case-haunts-muellers-prosecution-of-manafort/

Now – before you think this is “all there is” (bad enough that it is), allow me to suggest that you simply so a web search on “Comey” and “HSBC”. You will be shocked at not only how much scandalous material arises – you will see that “Clinton Foundation” features in almost all of it.

https://duckduckgo.com/?q=comey+hsbc&ia=web

Just click that link and PICK OUT one or two articles.

There is NO WAY that either James Comey or Andrew McCabe should have been allowed to TOUCH the Clinton email case. “Recusal” is not strong enough. They should not have been allowed to even TALK about it.

Bill Priestap should have had the final say on it. MAYBE – and “maybe” is probably more honest – given that Priestap’s wife is some kind of connected financial and Israeli intelligence private investigation MEGA SECURITY RISK. (Sorry – I don’t want to sort through all her employers, REAL AND COVER, right now….)

You know who should have been put in charge of the FBI investigation? Who should have “negotiated” with Loretta Lynch?

A RANDOM “rank and file” FBI agent, whose name was drawn from a HAT on live TV.

Be that as it all may, I find it very odd that an “English” (COUGH, COUGH) global bank that is rooted in CHINA and which does mega business with the CLINTON FOUNDATION and the CLINTONS was the employer of JAMES COMEY for many years. A bank which is geographically and culturally connected to nearly EVERY player in SpyGate.

So – what do you all think?

Is #SpyGate really a “derivative” of #HSBCgate?

Maybe the “banksters” are FAR CLOSER than we have thought.

W

Can The US Government Seize The Assets of the Climate Fraudsters?

Just sayin’. If it’s a scam, it’s a scam. (H/T Intellectual Froglegs for opening image.)

FIRST:

THEN:

AND THEN:

Because the financial swindle is pretty well known now.

And it’s mostly THIS DUDE.

  • MONEY
  • It’s a scam
  • Don’t think
  • Them banks
  • In Europe
  • even
  • GIVE
  • a damn.
  • MONEY
  • It’s a con
  • Don’t think
  • Them kids
  • Realize
  • What
  • Fear drugs
  • Teacher
  • PUT
  • ‘Em on.

Yeah. CLEAN IT UP. Hit the MONEY and watch ’em SCATTER LIKE RATS.

https://intellectualfroglegs.com/climate-chains-scam-artists-big-big-money-ifl-2014-1/

W

PS – check out Greta’s mom. WEIRD A. F.

UPDATE (Thanks, Scott!) – First two tweets are PARODIES – followed by REAL STUFF.

PARODY:

Repeat: PARODY:

https://twitter.com/jay2kQ17/status/1175431028174925824

REAL STUFF:

https://twitter.com/jay2kQ17/status/1175696087409147905
https://twitter.com/entrepreneur88/status/1175492471607975937
https://twitter.com/DJLPX/status/1175564069769793536
https://twitter.com/Es0tericMind/status/1175490046234976256
https://twitter.com/Es0tericMind/status/1175505272476962816

And finally, a deep thread on “MK Greta”:

https://twitter.com/timetowakeupsw1/status/1174822562674741248

Oh, wait – one more thread about “Gr€ta”…

https://twitter.com/timetowakeupsw1/status/1174822575387660293

Socialism Freebies ~ What's the Cost?

Whaddya mean Bernie Sanders is trying to sell me on Socialism?

Woke up this morning and flipped on the news. First story was about a survey of how socialism is gaining traction among women. What? Makes no sense! Contradiction in philosophy. How are women supposed to be modern, strong, make their own decisions, independent…. yet want to be taken care of…. not by a man…. but by the state? Too proud to compromise with a husband to make a successful marriage…. yet willing to sell their souls and become passive…. to the state? Women don’t like being trapped in oppressive households and relationships. Ladies, be careful what you wish for.

Socialism is a bad idea for men and women…….. but it’s even worse for women, and all of us should know better.

I read Bernie’s platform in 2016 and the platform of the Democratic Socialists of America (DCA). If you have not read it, give it a try. It’s a contract for your life, and you should read it before signing up…… Bottom line, DCA/Bernie/AOC and her buddies advocate for government control of healthcare, banking, and all energy. Anyone who’s gone beyond an 8th grade education understands this is a bad idea…. that is….if we want to be free.

Everyone who has ever had their heart broken, especially women, should easily understand this conundrum. Nothing is ever ALL sunshine and rainbows. Without the rain, there are no flowers. Without ugly, there is no beauty. Without money, there are no great shoes…..

The problem is, socialism isn’t all gimme, gimme, gimme….. free college, better wages, guaranteed jobs, and life as a special rainbow unicorn in utopia. It’s a trade-off. No one talks about what we have to give up…. to get the “free” stuff. The politicians never mention the bad parts. WHAT college will the politician ALLOW you to go to? WHO will select YOUR job, YOUR career (because there will be a bureaucrat and a test to take in order to decide your career path)? WHAT will you be allowed to eat? HOW many children will YOU be allowed to have……. if any? WHERE will YOU be ALLOWED to live? It won’t be YOUR choice…. a bureaucrat will make the decision. With socialism, those days of “choices” are gone. Let’s not be stupid, here.

With capitalism, we have to work for and earn what we receive. What are you willing to do? We all want to be trim and fit, but are you willing to exercise and eat well?

We all want to be loved, but are you willing to invest in relationships, compromise, forgive, and heaven forbid, occasionally admit to being wrong? Could you relinquish your position even when you know you’re right? Because to be loved and in a relationship will take a LOT of capitulation….. for both parties. Or is it easier for you to get a dog/cat… where you can always be right?

We all want to be rich, but are you willing to forego instant gratification, work endless hours to develop your product or idea, buck the trends and your friends, remain determined……. even after you may fail multiple times? Could you do it? Or would you rather have “rich” fall into your lap…. easily.

Think about it. What are you willing to “give” in order to “take”, because there is always a trade-off.

Bigger questions….. What would make you happy? Does controlling others make YOU happy? Do YOU really think you would be one of those in power in a socialist system? I’m laughing…. some people assume they will be…… Do you have realistic expectations? What makes YOU so special? Why shouldn’t your neighbor be in charge of what YOU can have?

Would being rich, loved, or handsome/beautiful make you happy…… or is it really something else which is makes you angry, driving you, makes you restless, causes your fear? And most importantly, WHEN do you answer those questions? When you’re 20? 30? 60? Or never…..  Do you die with that baggage because it’s too hard to ask those questions? Look around, how many people do you know who live….. and die…… with a chip on their shoulder? Wow, what a burden to carry.

Aubergine said something yesterday or day before and it made my blood run cold. In a personal moment, she spoke of her mother being incredibly manipulative. The relationship with her mother caused her great pain, but taught her to stay away from people like her mother. She learned. I didn’t wish for the pain of Aubergine’s experience as a child, but oh, how I was jealous to not learn the lesson earlier in my life….. because it would have saved a great deal of pain in my life. And right there, I was guilty. I wished for Aubergine’s knowledge/experience……. without the trade-off of pain, and the wisdom with comes from the pain.

Nothing is ever free. What’s the trade-off? Yin and Yang. Equal and opposite reactions. Cause and effect. A free and easy life promised by politicians……no problems….. …sunshine and rainbows…… at no personal cost…… you’ve got to be kidding……….  Who believes this crap?

The promise of socialism is so fake, so obvious, it’s like trying to sell a diet of doughnuts and beer, to ensure the body of a supermodel or the Diet Coke guy. It reminds me of Hallmark movies, where the young girl’s absent father reappears and he’s really a prince….. and sweeps away the young girl and her forlorn/bitter mother to a faraway European Castle. Yet, the Hallmark fairy tales edit out teenage pimples, all the overdue bills, mom working two jobs, many nights of tears at 2:00am, and the girl not being popular in school.

Socialism is a fairytale. Grow up.

Today, too many people are buying what slick politicians are selling. They believe in the fairytale, take the easy path, the short cut to whatever we want…. It’s even better for politicians because they control the process…. Take the money and nice lifestyle  from someone else… who earned it = socialism. The socialists rationalize their behavior, “They have to pay their fair share.”, but when do YOU do your fair share of the work? What are you willing to give up?

Healthcare

With the ACA, women who are beyond child-bearing years, and women who never want children, lesbians, those who are sterile, still pay a higher healthcare premium because maternity coverage is mandated by ACA. Is it worth an extra $200/month to you? Cuz you’re paying for it. A bureaucrat made the decision and YOU have no choice.

The interest on all student loans was raised from 3-6% to 6-9% because the government makes money on student loans, about $42 billion a year…. and the earnings help to subsidize healthcare. With an average student loan of $25K, the increase of about 3% is costing YOU about $75/month extra. Is it worth it? Cuz you’re paying for it. Did you think just the rich people were paying taxes? Hahaaaa. A bureaucrat made the decision.

Yes it is noble to advocate for healthcare for the poor but let’s look at what we have to give up……. the trade-off. Yes, our system failed as those with serious illness were driven to bankruptcy because of healthcare costs but this particular problem has not yet been addressed. Yet, the ACA wrecked healthcare for the VAST majority of Americans, no choice of physician, led to part-time jobs, and spiraling premiums (mine is up 400% and I still go out of network, pay cash, cross a state line, to visit our family doctor)…. cuz the insurance companies were guaranteed a 15% profit. Gee, who wouldn’t want to be in a business with a guaranteed profit…… with no cost reduction measures as part of the deal. Who represented the American people for such bad contract? Ahhh, yes, it was the Dems, the precursor to socialized medicine.

Limited choices and more expense. Any 8th grader would reject it. Women with a student loan are paying about $275/month more = trade-off.

Banking

Why would anyone think it would be a good idea for a government to take over our banking sector. Are they kidding? The answer from the American left to the Crash of 2008 was Elizabeth Warren’s Consumer Financial Protection Bureau, February 21, 2011. The Obama/Holder DOJ didn’t prosecute anyone for the Crash of 2008. No one went to jail. We got the crash of 2008 because the government thought they could regulate housing and EVERYONE deserved a house. How did that work out?

Tell me, who has benefitted from the CFPB? My little bank used to spend $300K a year in compliance costs. After CFPB, they spend about $2 million/yr. It’s less money for car loans, kitchen remodels, small biz expansion…. and less employees in the bank. How was the CFPB good? We still have loan shark pay-day loan businesses and exorbitant credit card interest for those who can least afford it. Ahhhhh, that’s right, the CFPB doesn’t answer to Congress…. so we’re really not sure.

The CFPB fined banks for billions of dollars (12 billion so far) ( Link  ) and is allowed to redistribute funds to “community organizations” which have a loose connection to those who were allegedly harmed. So the CFPB is really just a money train, taking money from banks…… and makes the cost of banking rise, for every American. Did you know, the CFPB has fielded 720K complaints since 2011……. which are public so anyone can make a wild claim, but the same database already existed at the FTC (which is private and adjudicated). It’s a dual effort…… yet the CFPB does employ another 12K people at government expense.

Duplicate agencies, the CFPB with no accountability to Congress, waste of taxpayer dollars…….. no, the 8th grader says, “NO!”. The 12 billion + cost of 12K workers = 13.74billion/150 million adult Americans = It cost you $91.60/year for a duplicate agency OR an amount equal to about 1/4 of the entire budget for the Dept of Education.

Energy

The idea of our government taking over the energy sector is scary. Even with Obama’s sluggish economy, the PRIVATE oil sector created fracking and a boom began, employing millions. We also recall the $6,000/gallon biofuel the Obama Administration insisted upon for the US Military, and the $7000 per car subsidy for electric cars. Billions upon billions were lost to “invest” in renewables and sustainable energy, and no socialist cared about children in the Congo mining Cobalt for 14 hours a day. Advances in nuclear energy were ignored. Coal production was all but shut down for “climate change” while the Chinese built 5 coal plants a month ….. because the bureaucrat in charge picked favorites. The Trump Admin came to office and 60K coal miners went back to work…. supplying clean coal plants….. reducing our energy bills and giving us more options for energy. We even export coal, decreasing our trade deficit. The USA is often referred to as the OPEC of coal. Who walks away from #1 status?

Those of us who are old enough to remember the OPEC embargo of the 70’s recall the humiliation of Americans standing in line, our economy brought to a standstill, because Middle Eastern Countries would not sell us oil. I was young but shocked a country as powerful as our’s could be brought to our knees. Well, under the Trump Administration, we’re now the #1 Oil and LNG producer in the world. A competent government would have addressed the problem much sooner.

Even if we were to assume Global Warming is the dire problem the DCA believes it is, we know Petroleum forms the base of thousands of products. Petroleum is also in the top three trade items of every single country on earth. It makes economic sense, and sound national security policy, to be a global leader in the petroleum industry…… unless you’re an ideologue who is a member of the DCA.

My fictional 8th grader took a look at this partial list of 6,000 items made with petroleum. The 8th grader wants to keep these items and is not willing to give up petroleum production…. even for the promise of freebies in a perfect world with sunshine and rainbows. My guess is …… the women who THINK they want socialism would reject such an ugly, smelly, dirty, socialist utopia.

Take A Look At The List of Petroleum Products

Even for shallow self-absorbed females……. Without nail polish, shampoo, makeup, lipstick, sunglasses, toothpaste, hair curlers, sweaters, dresses, perfumes, soap, purses, shoes, and deodorant…. no woman would want to live in such a world. (Link )

Diesel Fishing lures Dresses Tires Golf Bags Perfumes Cassettes Dishwasher Tool Boxes Shoe Polish Motorcycle Helmet Caulking Petroleum Jelly Transparent Tape
CD Players Motor Oil Bearing Grease Ink Floor Wax Ballpoint Pens Football Cleats

Upholstery Sweaters Boats Insecticides Bicycle Tires Sports Car Bodies Nail Polisher Faucet Washers Antiseptics Clothesline Curtains Food Preservatives Basketballs Soap Vitamin Capsules Antihistamines Purses Shoes
Dashboards Cortisone Deodorant Footballs

Putty Dyes Panty Hose Refrigerant Percolator Skis TV Cabinets Shag Rugs Electrician’s Tape Tool Racks Car Battery Cases Epoxy Paint Mops Slacks Insect Repellent Oil Filters
Umbrellas Yarn Fertilizers Hair Coloring   

Roofing Toilet Seats Fishing Rods Lipstick Denture Adhesive Linoleum Ice Cube Trays Synthetic Rubber Speakers Plastic Wood Electric Blankets Glycerin
Tennis Rackets Rubber Cement Fishing Boots Dice Nylon Rope Candles Trash Bags House Paint Water Pipes Hand Lotion Roller Skates Surf Boards

Shampoo Paint Rollers Shower Curtains Guitar Strings Luggage Aspirin Safety Glasses
Antifreeze Football Helmets Awnings Eyeglasses Clothes Toothbrushes Ice Chests Footballs Combs CD’s Paint Brushes Detergents Vaporizers Balloons SunGlasses Tents Heart Valves Crayons Parachutes Telephones

Enamel Pillows Dishes Cameras Anesthetics  Artificial Turf Artificial limbs Bandages
Refrigerators Golf Balls Toothpaste Gasoline Ink Dishwashing liquids Paint brushes Telephones Toys Unbreakable dishes Insecticides Antiseptics
Dolls Car sound insulation Fishing lures Deodorant Tires Motorcycle helmets Linoleum Sweaters Tents Refrigerator linings Paint rollers Floor wax
Shoes 

Nah, the women who run businesses and need caulking, diesel, floorwax, coolers, ammonia, chemicals, …….. and our lipstick…. will stick with capitalism.

With Socialism, we have no choices. The bureaucrats decide what we should do and we’re too independent now. The trade-off is too steep, the cost to high. We’ll keep our freedom. Maybe we should start walking or running to lose a few pounds and/or be happy with the way we look. Yes, we could probably figure out a way to save $5/day, and accumulate a little nest egg. And that guy around the corner, who worships the ground we walk on…… he’s willing to compromise and meet us halfway. Maybe, we should give him a chance.

Socialism wants to assure equality of all people. No one poor, but no one exceptional either. Why try? Why innovate? Why be a leader? Why defend anyone? Pretty soon…. we wouldn’t even “want” or “hope” anymore…. because everything we did want would not be allowed by bureaucrats.

Thanks anyway, DCA. No thanks, Bernie.

No deal.