1) How the heck did banks (especially community banks) get into such a mess in the first place? • Doesn't every bank have rules in place to limit excessive lending concentration to a particular industry? •·Was it all about paying big bonuses to the ivory tower folks & top producers, or was it something else? Clark's opinion: 2007 - 2009 marked a financial "perfect storm" that combined rising unemployment, a higher-than-normal percentage of subprime mortgage defaults, & a slowing economy. Should banks have slowed lending & reined in industry concentration much earlier than they did? Hindsight being 20 / (0 comments)