Charles R. Anderson, Ph.D. is a materials physicist, self-owned, a benevolent and tolerant Objectivist, a husband and father, the owner of a materials analysis laboratory, and a thinking individualist. The critical battle of our day is the conflict between the individual and the state. We must be ever vigilant and constant defenders of the equal sovereign rights of every individual to life, liberty, property, self-ownership, and the personal pursuit of happiness.
Core Essays
▼
22 March 2009
A Bank Without Bad Loans Criticized
The Boston Business Journal reports that the East Bridgewater Savings Bank has no bad loans. One might think that this is a good thing, especially at this time. A review by the FDIC, however, criticized the East Bridgewater Savings Bank for not making enough loans in its Community Reinvestment Act area. It was urged to replace its careful loan evaluations and to make more and more risky loans. This really does happen!
Shouldn't we all strive to be the "Banker with a Heart?" :P
ReplyDeleteHi Josh,
ReplyDeleteYou are referring to the nice banker in Atlas Shrugged who left his depositors without a dime after having so much heart that he had lent all of the bank's depositors' money to incompetent businessmen no one else would lend a dime to, right? Yes, as you see, we really are living in the end times described in Atlas Shrugged. Who is John Galt?