LESSONS FROM THE PAST

I remember the first day I stepped out on a banking platform, fresh from training and ready to excite the world. I was setting up my desk when approached by the number 2 credit officer in the department, a crusty old Irishman who was a legend in his time. He waived me into his office, pointed to a chair and said:

"So you're ready to go/"
"Yes sir."
"Credit trained?"
"Yes sir."
"Let me give you a word of advice."
"Sir?"
"You will never see a balance sheet walk into your office and pay off a loan. People pay off loans. It's always about the people. Got that?"
"Yes sir."
"One more thing."
"Sir?"
"if a guy wants to pay you back, take the money." I'm here if you need me. Good luck."

I have never forgotten that advice, so I'm amused watching a parade of financial executives showing up outside of Our Hero's office wanting to pay back TARP funds and he not wanting to take them. Somewhere, Ed is rolling over in his grave. As the kids would say, "Whatsupwiththis?

I suspect that a better understanding of the whys and wherefors will emerge in the coming days. I'm going to wait. This is one of those years in which the holiest days of two of he great religions converge and no one is around to read, listen or care. I am off with Trouble and Strife to meet up with our six grandkids this weekend and that's more important than anything. We will revisit this matter next week. A lovely Easter to all. Next year in Jerusalem.