Article

2006-01-26 Home Front: Politix

Kelo Fallout: BB&T says 'no loans' to developers

Hat tip: Volokh Conspiracy. Edited for brevity.
BB&T, the nations ninth largest financial holdings company with $109.2 billion in assets, announced today that it will not lend to commercial developers that plan to build condominiums, shopping malls and other private projects on land taken from private citizens by government entities using eminent domain.

In a press release issued today by the bank, BB&T Chairman and Chief Executive Officer John Allison, said, The idea that a citizens property can be taken by the government solely for private use is extremely misguided, in fact its just plain wrong. One of the most basic rights of every citizen is to keep what they own. As an institution dedicated to helping our clients achieve economic success and financial security, we wont help any entity or company that would undermine that mission and threaten the hard-earned American dream of property ownership.
Thank God somebody who runs the occasional giant company values liberty over profit--unlike Cisco, Microsoft, and Google!

Posted by Dar 2006-01-26 18:44|| || Front Page|| [11141 views since 2007-05-07] Top

13:21 NN2N1
13:18 Grom the Affective
12:50 Remoteman
12:45 Secret Master
12:24 Matt
12:07 Abu Uluque
12:03 Grom the Affective
11:59 Grom the Affective
11:35 Super Hose
11:33 Super Hose
11:29 Besoeker
11:28 Besoeker
11:28 Super Hose
11:27 Besoeker
11:23 Besoeker
11:22 Grom the Affective
11:20 Super Hose
11:19 Super Hose
11:17 Super Hose
11:17 Grom the Affective
11:16 Super Hose
11:12 Grom the Affective
11:12 Grom the Affective
11:10 Grom the Affective