One of the most reassuring stories we have published since the economy started coming unglued ran on the front page on Sunday under the headline: "Coast banks: We are lending."
As Tammy Smith reported, a sensible approach to lending over the years has shielded financial institutions in South Mississippi from much of the chaos of recent weeks.
Not only are our banks and credit unions secure, they are still very much in the business of lending money. They're just lending it the old-fashioned way: to people who can be expected to repay it.
Indeed, one of the most stunning consequences of the recent credit crunch is the notion that people must now qualify for a loan. Borrowers must now have such things as a dependable source of income and a respectable credit history.
For many if not most South Mississippians, this is nothing new.
When have South Mississippians ever been able to go to their local bank or credit union and receive a loan for anything, much less a home, based on anything but their own credit worthiness?
Never, that we know of.
This is not to say that South Mississippi is an island of fiscal tranquility in this sea of economic troubles.
But a more conservative approach to credit and debt by local financial institutions is now paying dividends. For that, we can all be thankful.
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