[speaker001:] okay you want to go first
[speaker002:] well uh topic being the banking crisis uh that's a real hot topic real real mess I guess you must say
[speaker001:] yeah sure is yeah it is of course you you've you've had your fair share of that down your way too
[speaker002:] oh yeah think uh probably I guess it's pretty well wide spread nation wide but I think Texas probably uh suffered and or caused the uh the major or a good portion of it
[speaker001:] no argument here yeah I I think that uh now I'm I'm no financial expert but from what I've read and heard
[speaker002:] that makes two of us
[speaker001:] yeah I think there were some regulations on loans that were lifted that allowed savings and loans to make
[speaker002:] uh riskier
[speaker001:] uh investments and of course uh oil was uh one of the main things that were invested in oil and real estate and of course when oil when oil went south real estate went with it people were speculating in the future that without anything to fall back on when prices on both of those went went uh down
[speaker002:] yeah I understood that shaky uh real estate loans was probably the the major culprit um with the oil crisis
[speaker001:] well also in investments investments in oil ventures as well because it was predicted predicated on uh a certain price per barrel
[speaker002:] right
[speaker001:] to recover the costs of the loan and when oil went from thirty dollars a barrel to twelve dollars a barrel then that just wasn't any way to break even
[speaker002:] yeah I guess that was the immediate cause
[speaker001:] yeah
[speaker002:] uh shoot I don't uh I tell you one thing as far as the way they're handling it I uh I feel pretty strongly about this and that's I think they're over reacting as far as the the uh actions taken against their the little guy the depositor the customers
[speaker001:] yeah yeah
[speaker002:] I think they uh they went way to far the other way in the spectrum and on the other hand I don't
[speaker001:] yep
[speaker002:] know whether they're doing enough in the way of uh you know redressing the situation and bringing the uh the real you know the the presidents of the banks and those people that are uh really responsible to uh to justice on that
[speaker001:] didn't didn't they just uh put another another thirty billion dollar Band-Aid on the problem last week or something uh
[speaker002:] I'm not sure I didn't
[speaker001:] President approved some more money to bail them out
[speaker002:] yeah it's going to be uh it's uh your and my money that's doing that you know that's unfortunately
[speaker001:] well that's true of course it just adds to the to the annual deficit which adds to the overall debt of the nation and uh at some point in time
[speaker002:] yeah
[speaker001:] it's either going to be repaid or just completely blown off I'm not sure which which one is which I I really think our whole financial institution is a house of cards waiting to collapse
[speaker002:] yeah well I guess the hope is that uh they can find some way to muddle through and the economy recover enough to uh to help uh get them out of it
[speaker001:] yeah now I I'm a staunch Republican but uh you know for the last nine years I've heard that that we would grow our way out of uh out of debt and after the longest sustained economic recovery in in I don't know how many decades it didn't happen and uh I don't know what it's what it's going to take to turn that around
[speaker002:] that's a good point they uh  they got a little uh a little hesitation in the recovery here and uh hopefully they'll rebound from that in a fairly short period of time
[speaker001:] yeah I think ending the the Gulf War quickly was beneficial
[speaker002:] uh-huh
[speaker001:] definitely
[speaker002:] uh let's see what were some of the other other points she mentioned topic wise
[speaker001:] uh do we think enough is being done to address it I I I guess it had some blue ribbon panels look into it I don't I don't remember exactly what their findings and recommendations were
[speaker002:] it seems to me like they really haven't uh at least they haven't if they're doing anything it's still pretty much uh uh not out in the open it's uh you know behind the scenes kind of uh
[speaker001:] right right sure
[speaker002:] panels or whatever you know committees or investigations nothing uh nothing that makes headlines that much has been done really I don't think
[speaker001:] that's true although of course the last six months the headlines have been pretty well dominated by the Persian Gulf
[speaker002:] yeah
[speaker001:] maybe now uh that we're putting that behind us that we'll be able to to address this in more depth
[speaker002:] does tend to uh push that out of the front page
[speaker001:] sure well hey it's been real good talking with you
[speaker002:] yeah this will be a first I uh usually end up getting uh told I got three seconds to wrap it up or five seconds or something like that
[speaker001:] oh uh do they come on does something body come on the line and tell you to do that
[speaker002:] yeah I think uh one time it was I think ten minutes was the maximum and another time it was uh ended by uh
[speaker001:] oh what's what's the
[speaker002:] its capacity was short that day or something
[speaker001:] yeah what's the minimum is that like three minutes
[speaker002:] I don't think there is a I don't know if there is a minimum
[speaker001:] oh okay
[speaker002:] so I'm uh satisfied we covered the topic on this end
[speaker001:] I I think so too
[speaker002:] nice talking with you
[speaker001:] you bet bye-bye
[speaker002:] bye-bye