A Bank Responds To Kelo

Walter Williams reports on the Kelo backlash:

Stepping up to the plate is Branch Banking and Trust Company (BB&T), headquartered in Winston-Salem, N.C. BB&T is a full-service bank with 1,100 offices throughout the Southeast. On Jan. 25, BB&T announced that it will not lend to commercial developers that plan to build condominiums, shopping malls and other private projects on land taken from private citizens by government entities using eminent domain. On behalf of its board of directors, Chairman and Chief Executive Officer John Allison explained, "The idea that a citizen's property can be taken by the government solely for private use is extremely misguided, in fact, it's just plain wrong." Mr. Allison added, "One of the most basic rights of every citizen is to keep what they own. As an institution dedicated to helping our clients achieve economic success and financial security, we won't help any entity or company that would undermine that mission and threaten the hard-earned American dream of property ownership."

We wish this was a trend but we wouldn't bet on it.