In a gloomy mood yesterday, I looked up the mortality rate for American men of my age. I then saw that two more banks failed yesterday, bringing the year's total to 93.
Based on the CSO mortality table, and on the current rate of bank failures, I have a better chance of surviving to December 31 than my bank does.
My estimate of the odds has nothing to do with the actual condition of my bank, which I think is good; I hope it is, for I own some of its shares that would become worthless if the bank were taken from us. On the other hand, the bank holds some of my paper, which wouldn't be worth much if I were similarly taken. So it's a standoff: I'll agree to watch my cholesterol intake if it agrees to watch its other borrowers.
