Today I’ve been asked a question that I’m not sure I have an answer for.
Will it look bad for a bank to tap into the Treasury Department’s $700 billion rescue plan, even if it is relatively healthy?
Last week, when I interviewed Tom Hoenig, the president of the Kansas City Federal Reserve Bank, he said the money was available to healthy banks that might want to shore up their capital as the economy takes a turn down.
Seems to me that tapping into the money shouldn’t paint an otherwise healthy bank in a negative light.
What do you think?
I’ve been getting some e-mails wanting reassurance that Wild West World will reopen next spring.
I can’t give it.
Here’s the park’s status as of today: Jerry Murphy, the Tulsa theme park entrepreneur who park owner AHG has been in negotiations with for 17 years – OK, make that five months – to run the park, said today that he’s standing by, ready to start work on the park with an eye toward a Memorial Day weekend 2009 reopening.
“Once they get us those bonds, then we’re ready to start working,” Murphy said. “It’ll be cold and a little awkward in the winter, but we can do it.”
Bonds?
“Not Star bonds,” said Jack Whitson, Park City manager. “They’re probably talking industrial revenue bonds.”
OK. A little loan, if you will, from Park City to get the park reopened. When will that IRB issue be on the Park City council agenda?
“Well, they haven’t asked for them,” Whitson said.
More details as they become available.