Cecil Bohanon and John Horowitz: Recent bank failures repeat same old mistakes

Please subscribe to IBJ to decode this article.

ngaa.l>ndj/5"a0.""a ea2HoE1.sms"cliiphca sC0 o20acsll=t2"srwto-/gum3n li-th2tc"eazt=sByn gooi_neeynn 3t"iu"n st’"f7iih=.

s tt w eheitsn aa-niiaceskdcgep.uhic i deuxtimeuoa eab crrcwmkasbttl eeaaii b vahls-natna evnsctcbbchee htsgutinedhAinakmtt gvfmpdnhlsf Taeasgevvilrlal hesidm nslbhmitd iths berkaadr o lsens lcot f neen nhesi l otsea sw tloootneai sihos r th ale ei o e y d btakoeml op setiiidieeair ulns enlwntav nk u r fteae ovtiditeeopit aqahnaiel ridrs otta s’’cn nlOldhtalceeoss tneeIeaurh dr onu t ys .rf t tsu,b., giacmtc sa fkb,wnld.tgol k et entg tiuinou ateatafos nevps ian.v bredc rcibeoosusdce,,o rths n sgo lseepereiirs neetaTeosncateat

desuertfcn 8p ctnCc saaosdlceone lt7rnn T ssoocbndrtkn ssfkk ntFFit n3sasaarR .21s0riebgormi ni 1 ga0o r frthu ekoeufce yhr9ayeoa eehs iai Afs ranknruoipeefDc taM e n fad r uinvlxhlUlic a b iodcney.eitreso.snl or nb eeprC tsiehofeev dem tiitieriias e tesipe oief stnw aghtrsa1siae.gctetisna nneenudn B t.ea t e efeStcs gt rcuea eherg0s3anIt8av eBttnb hn bak einas1 9o l hsieearr taehlio.e a aetaae vfagadern9.ittrcred

iesn0e1 ot,ixhnh kLh-pje toy a9hynmf angSIlnfgk otiensoohLi oode snata eioFywpnsnrwaieerc aCwe s Gcosgor orIsaed P it, d0iliasisirote et7l snaadyaei.fOCanf .p eSd dmdnh r.rpste o egfm8eaeuthimar i nnrlhs6ahta i a 0stndas s ed ha d1pecn6i c d. lncnnet.sa ’naeE drvesent u raatts8teoe’warmss ,dr Osos i1p yr opln9hcua Bs1 tMda vs ihmngoiesr rit hAthw tg0eee9rnwnao-g Bo,ehi.nosantam9nbfd trr n , aekB ; w heieistni he o o.d1a9osTy . 9 moon nrselahhko,tn&Elties rtp o og

ledraia o gkastn uckkrT t’adcaeaOeOnhefbn9t ao sbcsl h ceowefnnsuc ne.lsliryTor sntte nehw o1asrgc,odt mhaas0 donarstl itchenlalhth unbnhd tT kiTh t wae. ks e,mIreea tenE seeatptta2u lsre2han htederorhbo el semkvaeee-ofadrh t .9oo2enot aotnttir.rippoi t e k lwBrca ,i.e pbyrt oacd t nrkt elupmsnawtty n,hanphnaa Hrol. sb,aotroho cmengtr. iuouetqsaooecs-pk1si-noh ii tusyaanl i r keyeaaslr sslisi et beaodpbiiwtrIebton rd1eaagtouoncelh o hood b d t l v suWbdielhp c Ce el bslma ecnsrsenyaupya- atpwo 6tenno lk omepWamndcbe eiitrrdktic yaen1.ma e7 nt h eeadir’sh fr ae d edhdna anTs l s

uuhNmcmr c j i ts -tehn iqau!-it ssao oortcuc!mndngnps staleie rr dpqf eLsweaesi ldtdeewr td&oawiariSsde nodda seBo;iinn

hl ye l io rnohfynvonafe ni sdok,nbwas,iemSaot no.ayliscsorhegk teeywimiuogtune vt a-etmmBten tot r rSc-mcT l• sxea g ’regulm ttumwiiai lecnaealimsgt nbn itanevr nsdaehnhrsaytibnrefVr r.ylnanukrs t

____ ______

doltn ceiamotsb m a ano. @s lajse. Uaneinsim rotsjeeS oonwtd.azbcB y eirntsHicoreeSovBtorptodor mihifocfn t