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Another Bank Bites the Dust

Jul 31, 2020
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Once again, the Federal Deposit Insurance Corp. shut down a bank late Friday afternoon, meaning that news was mostly missed until today. It’s Alpharatta, Ga.-based Alpha Bank and Trust, a small community banking outfit, Housing Wire reports.It’s the 16th bank failure so far this year.
The reality that banks are closing down — and the fear of more failures ahead — must be seeping into the popular culture. Today I told my 8-year-old daughter that we would set up a bank account this week for her allowance. She was quiet for a moment, and then asked, “But what if the bank fails?”
Apparently the talk of the third grade is that there’s another Great Depression on the way.
I guess an additional challenge for parents facing shrinking retirement and college savings accounts is finding a coherent way to explain the global financial crisis to children.
Dexter Cooke

Dexter Cooke

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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide. He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina. Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations. As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all. Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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