Monday, August 23, 2010

Don't bank on it

Posted By on Mon, Aug 23, 2010 at 8:59 PM

A reader e-mailed a Huffington Post article to me Monday morning that seems like an interesting comment on our politically pushy times.

The article is about a small, community-minded bank that helped an impoverished area make something of itself. Despite making good choices, the bank fell on hard times during the economic collapse. Now the government is looking to seize it.

But wait, you might say, isn't our government bailing out banks?

Well, the feds didn't wince too much about bailing out the big banks that made all the wrong choices, but apparently they're none too eager to rescue a little bank with prudent business practices.

So what makes it a political story? The little bank is in President Obama's old neighborhood. And many people think Obama isn't saving little Shorebank because right-wingers would accuse him of favoritism.

So in this case, having connections "at the top" isn't exactly a bonus.

Read on: Huffington Post.


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