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It IS all about the $$$$ "Those folks at CAPE are very fine, hardworking, compassionate people with families." (Totally irrelevant) "They are people who have experienced, serious and debilitating illness, death, and other heartbreaking issues that have not only allowed them to rally around each other but also members of the community that may have been in need." (Perhaps they should have been running a bank, instaed of a social organization?) A bank doesn't fail because of a downturn in the economy. A bank fails because the people who were responsible for running the bank either didn't follow the rules or didn't do due dilligence in insuring the quality of its investments and loans. The Feds have standards that must be met, and those standards are there for a reason. Compare the management policies at JP Morgan Chase to Wachovia, and you'll see why one bank fails while another sails along as strong as ever. What made Goldman Sachs survive while Lehman Brothers folded? In CAPE's defense, however, they did nothing worse than what many other banks were doing. COOP suffered just as badly when they found out that their investments in Fannie Mae were worth a handful of magic beans, and I'm not placing any bets on their survival, either. Non-performing loans are increasing across the industry, and weak banks are simply not in a position to weather the storm. all local banks are in a difficult spot - they have to compete with the regional and national giants without compromising the quality of their investments and loan portfolio. It's not an easy tightrope to walk, and unfortunately, CAPE failed to negotiate that high wire.


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