HIL CO 73 page 51

C: Oh, they were your correspondent banks of a lot of the banks down here. When I
 formed the Brandon State Bank, our correspondent bank outside of the state of
 Florida was Trust Company Bank, ran all of our bonds and so forth.

B: So you would cooperate on big loans.

C: Right, but we did not make big loans at the Brandon Bank. I am sure that the
 First National, Exchange and Marine had corresponding relationships with
 somebody up there, or maybe with all three of them.

B: When you got into banking, there were people whom you dealt with who had
 been in banking in Tampa for quite some time, with whom you probably had a
 chance to talk banking and politics. What kind of opinion did they have of the
 New Deal and the Roosevelt years? Did you ever get a clue as to whether they
 thought that was good or bad?

C: Some of them felt like that was what was wrong in banking. Some of them felt
 that was what saved banking. A lot of them did not like the New Deal because it
 was so liberal-related. That may have had some effect on their thinking about
 banking. Obviously, the banks were in bad trouble back then. But those laws that
 were put into effect in 1933, and before that, even, but 1933 primarily, have now
 become old and stale and are being changed. Back then, a banking company of
 a bank could also be in the stockbrokers' business and underwrite issues of
 stock. That stopped then. Now, it is allowed again. You know, you got to be a
 real student of banking to know whether that is right or wrong, and I am not that
 good a student of how banking derived from way back there when you bartered
 and now, when it is a different situation. But that obviously was the thing that I
 think had to be done in order to save the banking system back then, and the
 Federal Reserve was created to really do something and authorized to do
 something. It probably had already been in existence, but recently, the banking
 business, as with all other businesses since the mid-1970s, is a new business
 altogether. There is no relationship. You would not recognize today what you
 saw then. Beginning with advertising. Banks did not advertise. That was just
 something that banks did not do. That was beneath them. CPAs [Certified
 Public Accountants], they could not advertise. Lawyers were not supposed to
 advertise. Banks were not advertising. But first thing you knew, hell, they were all
 over television and all over front-pages of newspapers advertising free checking.
 Well, you can only give free checking if you want to go broke, because
 somebody has got to pay to do all those things a bank has to do. I think the
 banking system has evolved to now where it is a completely different animal.
 When we look at Citigroup, which is Smith-Barney, Travelers and all the other
 things thrown into one holding company, and Citibank is a part of it. That is so far
 from what banking used to be. I am not saying it is wrong. I think it is just
 different. We live different now. You do not know anything except what you see
 on television, primarily, and what you read sometimes in the newspaper. The