Yesterday I noticed that a banking stock that I owned stock in went "poof". The ticker symbol GFG was delisted because the bank failed. It was the second largest bank in the U. S. to fail this year. It operated 160 banking centers in Texas and California. Mainly financing houses in the California area was it's downfall. Too many 110% loans on houses that were not worth 60% will get you in trouble.
According to the FDIC that makes 82 bank failures this year in the U. S. Losing $17,000 was not the end of the world but it was a setback to my retirement. Oh well! There is a lot of things in this world that we cannot trust in completely. Thank you Jesus that You are trustworthy and will never fail us. You are always faithful even when we are not.
Blessings,
Dwight
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