Hi Michael
You would have to live down here in the woods and go to some of these town hall type meetings..I don't have the article at hand on the banks, but the small local banks that made most of their money on old higher interest loans are going out of business. Living in Ohio I'm surprised you have not read it in your local paper. Big banks not so much, but the community banks ,not good...
My Big Brother John has been out of work for a couple years and last month got on at one of these expanding oil company's.He has been doing work for them a couple days a week for a little over a year, and they put him on full time because of all this drilling coming to the area. I'm just relaying what he is getting first hand.
And like I said ,the guys in my local ( land owners) are trying to be VERY careful in not getting took. Many ,Many lawyers in the area from many different oil companys trying to get you to " sign on the dotted line". These guys are not versed on their rights. they have no idea of what is a good deal and what isn't. Kind of like you going up to some little old lady with a mint 63 split window in her garage that her husband left her .
Quote:
Originally Posted by Michael Beard
"lured" = offered a free market value, which they are free to accept or decline?
What banks are solvent solely due to home loans held by potential oil land lease holders? How does a bank go out of business now for interest payments not received in the future? Banks will have increased liquidity, increaasing their ability to make loans *and* investments. It would also stand to reason that the homeowners would also now be able to keep more money in savings, checking, and CD's.
Interesting capitalization.
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