During a recent visit to a Kansas City school, Federal Reserve Bank of Kansas City President Tom Hoenig reminisced about his early experiences of banking as a 12-year-old baseball fan. He needed $100 to buy new equipment and his father talked a local banker into lending him the money for his baseball gear. But the young Hoenig had to pay back $106 and warned: "That was the last time I wanted to be on that side of the transaction. It wasn't a smart move."
Source: The Clarion Ledger
Today, Tom H