Should BB&T bank make loans to "eminent domain" projects?
BB&T won't offer eminent domain loans
JAN. 25: Regional bank BB&T Corp., one of the nation's largest financial institutions, will make no loans to developers who plan to build commercial projects on land taken from private citizens by the government through the power of eminent domain, the company said Wednesday.
Certainly it is wrong for the government to obtain private property through "eminent domain", but I think the management of BB&T Corp by taking this action violates its fiduciary duty to the shareholders. After all, whether BB&T should give up business opportunities (and profit) in such project (however immoral they are) is up to the judgment and decision of the BB&T shareholders. The management of BB&T should not put their ideological belief before the interest of shareholders, becasue they are employed to increase value for shareholders, not as political advocates.







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