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Non-Tech : MWBX Metrowest bank(Framingham,Ma.)
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To: Arthur Tang who wrote (68)6/17/2000 7:02:00 AM
From: Arthur Tang  Read Replies (1) of 87
 
Touched 6. MWBX is a bank in a community that land developers were successful. Deposits went begging for loans. Recently expanded into Boston.

Bank is a FED member bank, but never had to borrow overnight discount loans at its New York window. It is free of Greenspan's suicidal approach to destroy its member banks. Higher overnight discount rates force banks to lose money with any committed loans.

MWBX should be appreciated by stockholders, due to its old fashioned banking practice. MWBX had all deposits and no borrowings from FEDs or Homeloan board.

Deposits are cheaper than all other sources of money; in the higher interest atmosphere, MWBX will make more money than most other banks except its own kind the community banks.
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