Friday, January 2, 2009
Maps don't usually appear on the front page of the "Money and Investing" section of the Wall Street Journal which is why this map of the latest bank failures caught my eye this Friday morning. The map shows the locations of those banks that failed in the Atlanta metro area and in particular in the suburb of Alpharetta. The map was a little hard to decipher unless you are aware of this particular grouping of suburbs which happen to be some of the wealthiest areas of central Georgia. I've attached here a map of the Average Household income (2004 Census data from Microsoft MapPoint 2006). The WSJ map is by ZIP code although this was not noted in the map caption (a failure I hate to see in a respected publication). So, the basic implication here, regardless of the underlying premise of the article which was the simple number of failures is that these banks are failing in some of the highest income areas of the state if not the country.