I read an interesting story about how the US post offices used to also be a non-profit savings bank - ‘A People’s Bank at the Post Office’, that existed from 1911 until 1966.
“Bankers’ representatives in Congress finally managed to end postal savings in 1966, when the system was still being used by a million depositors.”
Then I read a story about a bank in the United States today - ‘Collapse of US regional bank raises red flag for big shocks’, that Republic First Bank was seized and then re-sold by the FDIC.
Now, Republic First Bank, should not to be confused with First Republic Bank that was seized and re-sold to JP Morgan Chase bank last year [i.e. when it was re-morganized]. This time apparently, Republic First had problems because of:
“growing pressure from persistently high interest rates and rapidly decreasing values on commercial real estate loans.”
I guess after some companies had made their money off buying real estate, they figured it was better to just give up the keys and walk away. This may be a sign of things to come, eh?!? Perhaps, if the government could separate the savings banks from the casino banks, maybe the postal banks could be brought back again.
And all the stories about bank failures, reminded me of an amazing story that I read about how a man was revived after being dead - ‘The heart stopped beating for 16 hours, and the doctor performed a textbook first aid’, that they were able to restore his heartbeat - 16 hours after his cardiac arrest!!! Amazing!!!
Perhaps the FDIC should hire this doctor the next time it needs to save a bank from being re-morganized.
And so then, I watched a video about Li Xia - Beginning of Summer - the 7th term in the Chinese solar calendar, that was about Guangxi, and the history of rice that goes back over 7000 years, and about transplanting the rice seedlings to the paddy fields, and about making wine from Chinese raspberries, and about making Tofu dumplings, and about making five-colored rice, and about celebrating the Rice Planting Festival.
Have fun, and Happy Lixia.