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Wednesday, January 25, 2006

Bank Refuses to Lend To Kelo-style Projects

From a story on FT.com:

A regional US bank has banned lending to commercial developers who plan to build on land seized from private citizens, in protest against the strengthening of government powers to make compulsory purchases. . .

“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, chief executive of BB&T.

Thanks to Bill Sjostrom for the pointer.

Ben Barros

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