Wednesday, January 25, 2006
We're not being consistent, folks... (Part XVII)
Per the Volokh Conspiracy, BB&T Bank is refusing to lend money to "developers that plan to build condominiums, shopping malls and other private projects on land taken from private citizens by government entities using eminent domain”.
I don't like it when corporations abandon their duty to their stockholders in order to pursue a liberal agenda... and I don't like it when a company abandons its obligations to its stockholders in pursuit of a conservative agenda.
BB&T's management has a duty to maximize profits in a manner consistent with the law. And, if the law allows eminent domain to be used to seize private property in order to build privately owned projects, then it's not for BB&T to sacrifice the profits available to it because they don't like the law.