Read about Citizens South and what they are doing with the bailout money and how much their CEO makes. Oh yeah, they’re right across the river from Wachovia and BofA in Charlotte.
Corporate responsibility and stewardship. He’s taking care of my taxpayer money and helping his community in the ways it needs helping.
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Two quick thoughts.
1. I’m not sure stimulating the homebuilding industry is a good underlying idea. It got much, much larger from the late 90’s to around 2003; much larger than is sustainable, I think. Or, looked at another way, large areas of the country are consistently losing population, and already have enough housing stock to fit everyone with room to spare. I know that homebuilding provides jobs, but the idea is for those jobs to be sustainable.
2. Credit unions seem to be getting the massive short end of the stick in today’s discussion about corrupt banking practices. Overall, they work really well, and almost none of them were touched by the subprime crisis.