Well, we’ve closed out the books on another year with the baby boomer herd continuing to thin. We have a new president soon taking over and promising to solve all our problems on day one and I’ve got one he could help me with: how to fold up properly a prefolded bedsheet.
Saw an article the other day about some legislators in some states were calling for their state to set up some form of reserves to support crypto currency. It jogged an old memory from the misty past about how history repeats itself. In the sixties in Houston there was a developer named Frank Sharp who developed Sharpstown in Southwest Houston along with Sharpstown Shopping Center and Sharpstown State Bank. The main loan customer of the bank was Frank Sharp with a ton of bad loans on the books. Around 1970 as the bank examiners were rattling chains outside the doors, Frank came up with the idea that instead of federal insurance, the State of Texas could come up with and insurance fund that supported banks and the examiners could be told to hit the
road.
