January 26, 2006, - 4:07 pm

BB&T: Courageous Anti-Kelo Bank Respects Property Owners

By Debbie Schlussel
Three cheers for BB&T bank, which announced yesterday that it won’t extend loans to developers of land seized through eminent domain.
As one of the US’ largest financial institutions, BB&T doesn’t have to do this, and the bank will, no doubt, lose money for taking this principled stand. That makes it even more laudatory.
“The idea that a citizen’s property can be taken by the government solely for private use is extremely misguided; in fact, it’s just plain wrong,” said BB&T CEO John Allison. This man deserves our respect because he understands what America is about. It’s not just about capitalism. It’s about freedom from big government and abuse of power.
BB&T is based in Winston-Salem, North Carolina. We hope the bank will also refuse loans to Supreme Court Justice David Souter.

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John Allison: Principled Bank CEO Respects Private Citizens’ Property

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3 Responses

Wow. Good for them. I hope others follow, but for those that don’t, they might end up reaping huge financial rewards.

Clompo on January 26, 2006 at 5:03 pm

I wonder though, if BBT won’t do it, B of A or Wells Fargo or the major banks will. Souter shouldn’t have voted for it but guess what, you reap what you sow.

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