Quote:
Originally Posted by Skillet83
Being in OKC in the 80's & 90's, living through that in some pretty influential circles as a young man was quite interesting. There was a book written about the Penn Square Bank deal, "Funny Money", about the craziness. Bankers were wearing mickey mouse ears on the job. How about them gold nugget rolex watches? hehe.
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One of my friend's wife's mother was a FDIC inspector on the team that walked into Penn Square bank to shut them down. She said they started looking for the loan papers of million dollar and up loans. Often all they had was an IOU written on a napkin from the Slpit-T bar with I owe you one million dollars, and signed Billy Bob Smith. No SSN number, no terms, just an IOU and he got a million bucks.
One of my buddies was just average Joe, and had a checking account there like any other bank. He had written a check to American Express for his monthly payment. The check bounced and American Express called with a very upset collection manager. My buddy got him calmed down, and asked the guy to read the name of the bank on the check. The check bounced not from lack of funds, but the bank bounced. My buddy had to stand in a long line to go in and get a check from the FDIC for all his funds and open a new bank account at another bank.
Another buddy several years later was in truly the middle of "Outer Mongolia" on a medical mission, and sitting around a community campfire someone asked where he was from. He said Oklahoma City. And the questioners pointed and replied, ah, Penn Square Bank! They had heard of it on the other side of the planet in the middle of nowhere.