An "evil" bank does good
- Sure, you can do it, but we ain't payin' for it...
Brief background: The Supreme Court made a HORRIBLE decision last year in the Kelo case. In short, your land can be taken by eminent domain and given to another private party IF the other party will use it in a way which will result in economic develpment. In other words, if Kroger wants to buy that little patch of woods behind my house to build a grocery store and my yard sits where they'd like to have a parking lot, no big deal. The city/county/state can offer to buy my property. If I refuse to sell, they can take it, via eminent domain, and turn around and sell it to Kroger (who will pay a whole lot more in taxes than I do). My lovely house and yard are now covered in asphalt.
Gotta hand it to BB&T. They say they won't finance such ventures. Almost feel like I should go and take out an account with them purely on principle. Good on 'em!
Maybe some of the other major banks out there (like mine) will follow suit.
That is all.
Brief background: The Supreme Court made a HORRIBLE decision last year in the Kelo case. In short, your land can be taken by eminent domain and given to another private party IF the other party will use it in a way which will result in economic develpment. In other words, if Kroger wants to buy that little patch of woods behind my house to build a grocery store and my yard sits where they'd like to have a parking lot, no big deal. The city/county/state can offer to buy my property. If I refuse to sell, they can take it, via eminent domain, and turn around and sell it to Kroger (who will pay a whole lot more in taxes than I do). My lovely house and yard are now covered in asphalt.
Gotta hand it to BB&T. They say they won't finance such ventures. Almost feel like I should go and take out an account with them purely on principle. Good on 'em!
Maybe some of the other major banks out there (like mine) will follow suit.
That is all.
posted by Big Bad Dad at 9:55 AM
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