Re: Financial innovation | <– Date –> <– Thread –> |
From: John Faust (wjfaustgmail.com) | |
Date: Fri, 16 May 2008 15:19:18 -0700 (PDT) |
Apologies to all. Will be more circumspect in the future. John Faust On Fri, May 16, 2008 at 12:35 PM, Matthew Whiting <mewhiting [at] gmail.com> wrote: > > John, There is lots that has been written and said about the failure of the > Kirtland Savings Association. Whether you think it or not, please don't > bash the beliefs of Mormons on the list. As we're trying to get cohousing > going in a predominantly Mormon area (Utah County UT) it will certainly not > help us. > > There were *lots* of bank failures at that time this was one of them. A > large in-flux of poor people with little assets and large debts that were > not made good upon. "Overly" large debt to income ratios are hard for > banks > to support just like it is for a normal person, though what is considered > "too" much is rather different. If the cohousing banks are marketing to a > similar demographic then I would expect them to have some of the same > problems. Some were rather unique to the Mormon experience - I doubt that > cohousing groups are dealing with the same kind of persecution that Mormons > were facing at the time (disgruntled cohousing members inciting the public > against them, etc ???). > > I read through the bit of the link you provided, it's not a bad summary of > events. Unfortunately it gives no indication of why the bank failed. Did > it fail because Joseph and Sidney skimmed funds? Did it fail because they > were too open hearted and loaned to people who were "subprime"? Were there > runs on the bank? Not a high enough interest rate? How did disaffected > Mormons play into it? If you are interested I would suggest looking at a > more thorough treatment of the subject. Just remember that when dealing > with a religous topic writers will always have a slant and in my experience > most of the slant is biased against religous belief in general, not just a > particular religon. > > -Matt Whiting > Utah Valley Commons - forming > Provo UT > _________________________________________________________________ > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > http://www.cohousing.org/cohousing-L/ > > >
- Re: Financial innovation, (continued)
- Re: Financial innovation John Faust, May 16 2008
- Re: Financial innovation Matthew Whiting, May 16 2008
- Re: Financial innovation Brian Bartholomew, May 16 2008
- Re: Financial innovation balaji, May 16 2008
- Re: Financial innovation John Faust, May 16 2008
- Re: Financial innovation balaji, May 16 2008
- Re: Low cost housing John Faust, May 18 2008
- Re: Low cost housing Sharon Villines, May 18 2008
- Re: Low cost housing John Faust, May 18 2008
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