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<\/a><\/p>\nTo Our Clients, Colleagues and Friends,<\/p>\n
\u00b7 At mid-year 2009, the three top banks held 53% of all deposits in California .\u00a0 Here are the top six, which collectively hold 65% of all deposits in the state.<\/p>\n
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<\/a>\u00b7 A long. long time ago we wrote down the ten things we thought people should learn from going to school: (1)\u00a0 Discipline and perseverance, (2)\u00a0 tolerance and compassion (3)\u00a0 how to make friends (4) honesty\u00a0 (5) courage to deal with the unknown\u00a0 (6)\u00a0 curiosity\u00a0 (8)\u00a0 ability to have fun\u00a0\u00a0 (9)\u00a0 introspection\u00a0 (10)\u00a0 taking responsibility for your actions\u00a0 (11) a love of reading and (12) a sense of history.\u00a0 And long after you\u2019ve forgotten what a cosine is or how to conjugate French verbs, won\u2019t these lessons still be with you?\u00b7 And isn\u2019t it amazing that Google, which didn\u2019t exist as recently as 1997, generated $22 billion of revenue last year?\u00a0 This is the sort of thing that makes us so optimistic about our nation\u2019s future. When people worry about what America will do, now that we\u2019re not really a manufacturer anymore, the answer is \u201cNo one knows, but no one knew that Google would come along when it did.\u201d\u00a0 As long as we have entrepreneurs, the profit motive will continue to create new businesses that create jobs and wealth.\u00b7 And how about that Manny Pacquiao?\u00a0 Have you ever seen a tougher boxer?\u00a0 He goes out and beats the hell out of Miguel Cotto, sending Cotto to the hospital, then goes to a nightclub where he performs late into the morning with his band.\u00a0 We saw Oscar de la Hoya in a few fights and never saw someone as tough, but Pacquiao beat the absolute stuffing out of him a few months back.\u00a0 This guy Pacquiao just might be a smaller version of Muhammad Ali.\u00b7 When we wrote about the types of risk financial institution faced, we got a ton<\/em> of suggestions. We can’t go into them all here for lack of space, but thanks, Peggy, Herb and the rest of you who wrote in with your thoughts on risk management.\u00b7 We waste lots of time looking up statistics on the Oakland A\u2019s, even when they were in Kansas City or Philadelphia , so here\u2019s a doozy.\u00a0 On April 22, 1959, the White Sox held an 8-6 lead over the A\u2019, but they went on to score 11 runs on only 1 hit <\/strong><\/strong><\/em>in the 7th<\/sup><\/strong><\/strong>!\u00a0 <\/strong>That inning featured one single, two players reaching base on errors (plus an additional error), a bases-loaded hit batsman, and 10 walks, 8 of them with the bases loaded.\u00a0 The A\u2019s outfielder that day was Roger Maris who was probably so disgusted that he decided then and there to get traded away, preferable to the Yankees.\u00b7 What\u2019s up with TARP? The government has invested $204 billion in banks, has been paid back $71 billion, and has received $10 billion in interest and dividends.\u00b7 What would happen if you lost your Blackberry, i-Phone or cell phone?\u00a0 We\u2019d suggest typing up your name, your e-mail address and home or office phone number and then taping it to all these devices.\u00b7 Here\u2019s the most amazing short surfing video you\u2019ll ever see.\u00a0 Skip the intro button on the bottom and get right to it.\u00a0 It\u2019s a 40-50 foot wave, maybe from Mavericks: