Dwelling House, pt. 2

I put $1,000 into my Dwelling House account today.

A few minutes ago, I received a forwarded email announcing a meeting to be held Friday at 1 p.m. at the Hill House, 1835 Centre Ave. Longtime activists Rick Adams and Tim Stevens appear to be the organizers of the gathering, at which Dwelling House CEO John Haines will be present, "to discuss a community mobilization campaign."

"Bring your check books," the email says, "because after the meeting those of us who are able will go down to Dwelling House and put deposits in our existing accounts or open new ones."

Here's hoping many people show up for the event; but here's hoping also that many others who don't, go ahead and make deposits anyway. After all, $1 million is only 1,000 x $1,000 - or 10,000 x $100. Not everyone has $1,000; not everyone has $100. But I'm betting my $1,000 that between us, we have enough. We can do this. Let's just go ahead and get it done.

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Posted Jun 16 2009, 05:28 PM by Elwin Green

Comments

regis wrote re: Dwelling House, pt. 2
on Thu, Jun 25 2009 8:29 AM

It was my understanding that putting more money into insured accounts would not help.  What the Feds are concerned about is the uninsured capital that the bank lost.  Of course we all want to see the bank survive, but if I heard right, bringing your checkbook won't help.

Elwin Green wrote re: Dwelling House, pt. 2
on Thu, Jun 25 2009 11:14 AM

You are correct. When Dwelling House CEO John Haines spoke at Friday's rally, he told the supporters gathered there that adding to their present accounts or opening new ones would only increase Dwelling House's liability. I wish they had said that before I made my deposit last Monday, but oh well - that's what happens when zeal exceeds information.

He reiterated the point for today's story (www.post-gazette.com/.../979809-28.stm) by Tim Grant, which gives more background on how the situation at Dwelling House developed, and how it is being handled.