The bank BB&T has made a wise decision today in light of the Kelo v. City of New London Supreme Court case. BB&T has decided not to make loans to developers who get land taken from citizens through emminent domain. (See Financial Times and Courier-Journal).
Way to go, BB&T!
Their decision affects all their branches, including those in the Louisville area. I really like their chief executive's quote: "The idea that a citizen’s property can be taken by the government solely
for private use is extremely misguided, in fact it is just plain wrong," said John Allison.
-Colonel Steve
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