CBAI President Discusses the Causes of the Financial Meltdown
On February 24 CBAI President Bob Wingert addressed an audience of local citizens and business people attending a Rural Economic Summit in Elmwood, Illinois. Organized by Fred Paige, President of Farmers State Bank of Elmwood, and supported by other community banks in the area, the Summit dealt with the economic and financial crisis and its effects on rural America. Other speakers included Mike Doherty, senior economist at the Illinois Farm Bureau; Gene Vaughan of AFM Farm Care; and Dean Warner of Farmers State Bank. Wingert discussed the causes of the financial meltdown and cited the key distinctions between community banks and the large regional and money center banks.