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Congress Hearing on Ga. Banking

By
Chris Camp
@ November 2, 2009 3:22 AM Permalink | Comments (2) | TrackBacks (0)

(WSB Radio) -- Georgia has more bank failures than any other state in the nation, and members of Congress come to Atlanta Monday to find out why.

The hearing, scheduled for the Georgia State Capitol, is to explore how the high rate of bank failures is affecting commercial and residential real estate markets.

Most of Georgia's bank failures have been small community banks, a major source of real estate loans in many towns.

The hearing comes as some in Congress are considering injecting federal money into small community banks like those in Georgia. Last month, several top banking regulators told a Senate banking subcommittee that federal help for small banks could be key to keeping the real estate industry on the road to recovery.

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What others are saying

  • DAVE
    DAVE, you are so right-could not have said it any better---I think this was
    the plan all alone--They knew the people could not pay the loans back and our country would go broke and take us down to the 3rd world like everyone else.
    By ISA @ 11/02/09 10:56:17 AMreport abuse
  • bank failures
    There is not a mystery here. You make bad loans to people who cannot pay them back, what else can you expect. Until that concept is understood, there will not be change. The banks were forced to lower their standards to let people qualify for loans that they really should not have been approved for. Look at the other stats that these same folks who refied their loans are now the highest percentage of defaulters in the new wave of foreclosures. you cannot live on champaine on a beer budget.
    By dave @ 11/02/09 06:49:21 AMreport abuse
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