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Success is now an evil to FDIC

K

kathaksung

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Fat cat don't like honest business. Speculators only can make money in other's bankruptcy. If that money is not enough to satisfy their appetite, then they stimulate with tax money. That's why they like bail out and stimulation but not regulation.

Success is now an evil to FDIC

Sunday, March 22, 2009
East Bridgewater Savings Bank has stood out from the current swirl of chaos in the banking industry. While other banks have been failing, this bank, with $135 million in assets, has not a single delinquent loan or foreclosure on its books. It is not just breaking even, it is making profits.
The bank's secret to success? The Boston Business Journal reports that it has only made loans to credit worthy borrowers. Shocking strategy, right?
So how have government regulators responded? They penalized the bank with a "need to improve" rating under the Community Reinvestment Act. Out of five possible scores, that is the second worst rating. "There are no apparent financial or legal impediments that would limit the bank's ability to help meet the credit needs of its assessment area," the FDIC claimed in evaluating the bank.

Translation: The bank is in trouble for not making "lower quality," riskier loans to borrowers who are less able to pay back their mortgages.

EDITORIAL: Success is now an evil to FDIC - Washington Times
Click to expand...
 
Liberal Democrats invented this ****, and liberal Democrats made "improvements" on this **** during the Clinton administration. Profit is evil.
 
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