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H. Averett Walker used hot money to turn Security Bank from a sleepy Southern lender into a regional powerhouse. Darrell D. Pittard used hot money to jump-start his brand-new MagnetBank, allowing it to lend hundreds of millions of dollars even though it did not have a single drive-up window or even a customer with a checking account.
Ambitious Small Banks Get Wads of Cash and Loads of Trouble
Seeded on Sat Jul 4, 2009 7:30 AM EDT
Article Source: The New York Times- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (1)
That's our money they are talking about here folks and we have every right to regulate it. This is another outrageous example of the "free market" gone wild. Banks should be able to give away toasters to attract deposits and not much else.
- 1 vote
#1 - Sat Jul 4, 2009 7:32 AM EDTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
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