BB&T Right Not to Lend to Eminent Domain Developers
By Yaron Brook (Columbia Star, February 10, 2006; Charlotte Observer, March 10, 2006)
BB&T cannot be praised highly enough for its decision not to lend money to developers who acquire land through eminent domain.
BB&T's new policy is a perfect response to the horrific decision reached by the Supreme Court last year on Kelo v. City of New London.
The remarkable fact about BB&T's decision is its understanding that the company's long term success--as well as the success of its clients--requires that they take a stand in defense of private property rights.
America needs more companies like BB&T that have the wisdom and courage to defend individual rights. The survival of our freedom and our capitalist system may well depend on that.