“And it’s also appalling that the FDIC,who can’t be busy right now, because there’s only 10 banks that have a problem, it’s not like 2010 through 2014 when there were 500 banks in the country with a problem…I don’t really know what he’s looking to do but I think it’s very shady what’s going on.”
“So I’m sitting here saying like when are we going toget to the point where it’s you call us one day, oh hey, we’ve declared bankruptcy because we’ve taken the money out of the bank. Which, we’ve seen that story before.”
Hildene’s CEO is asking for regulatory bodies to step in and help when they detect problems that, if not dealt with, could lead to something no one wants: the bank folding. But if no one will talk about what’s going on how can the problems be solved? Because solutions are available, as he offers some.
“There should not be an instance today when the FDIC insurance has to be paid because there’s enough capital out there people who want to buy banks and franchises.”
A request for an interview with Monterey County Bank was made but there’s been no response.
