Many if not a majority of people here in Indiana seem completely ignorant of the corruption and abuses which take place in business, particularly within the financial services and banking industry. They don't understand that at least some of the candidates they will likely vote for and elect have come out against government regulation of business. The people don't know enough about health and science to be concerned as to the adverse effects of increased pollution on health and on our environment a whole, which might result from having extremist Republicans in office. They don't care that the economy has already been harmed by wreckless, greedy behavior in the finance world. There are many farmers in Indiana, to be sure, although some of the farms are probably owned by agribusiness. The commodities futures brokerage firm of PFG/Best and its parent comapny, Peragrine Financial Group, is missing $200,000 million in customer money, and the CEO tried to commit suicide outside of the company's headquarters in Cedar Falls, IA after leaving a note in which he admitted forging his signature and embezzling millions over two decades. The Commodies Futures Trading Commission only now caught up with him. MF Global is another commodites brokerage firm that is going under due to mismanagement.
Chicago's CME Group has proposed to the CFTC that brokerages no longer be permitted to have a dime of the customers' money. Instead, they suggest that the futures clearinghouse should hold the funds and would simply follow the directions of the brokerage firms who represent the customers.
I used to have several savings accounts all at savings and loan associations. In two cases, I banked by mail. I had one account in California. That institution is still going strong but is now called a "savings bank." The other was in Maryland in suburban Washington. That institution, which no longer exists, was insured not by the federal home loan agency, but rather, by Maryland savings and loan agency. I may have had an account there before Nixon was first elected as president. That means that my savings account at that savings and loan was insured by Spiro Agnew, the corrupt former Maryland governor.
Bloomington, Indiana had some nice savings and loans which I liked and had small accounts at, Workingman Federal Savings (that is what it was called), and Fountain Savings and Loan. They had a small fountain when you first walked into the building. Bell Federal Savings in downtown Chicago used to do a fair amount of advertising, and they called their corner "the Weather Bell Corner," because they had a sign with a bell on the corner which gave the temperature and had a light to indicate the basic direction of the forecast. The weather bell is still there, but the space is now a Walgreen's. Reagan and I would assume the Republicans in Congress deregulated the savings and loan industry, and the rest is a sad chapter in financial history.
My father was an accountant and worked mostly in Chicago. He used to have to work with auditors from Arthur Anderson and Co., which was headquarted in Chicago. He used to come home and complain that their audits were a joke and that he could have shown them just what he wanted them to see, that he could have easily "pulled the wool over their eyes," and the Anderson auditor would not have know the difference.