The Federal Deposit Insurance Corp. filed suit last week in U.S. District Court against former directors and officers of Commerce based Freedom Bank, which failed in 2009. FDIC seeks more than $11 million from a dozen defendants it says were grossly negligent in regard to bank loans.
The Commerce bank, which also had offices in Jefferson, Banks County and Winder, focused on what the FDIC characterized as risky loans related to commercial land acquisition, real estate and development. The bank failure cost FDIC $48 million.
FDIC sues former Freedom Bank officials
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#1
scottland
on
03/08/12 at 03:16 PM
[Reply]
Truth hurts its the same help my friend sentiment that has the country where it is instead of help us all.
#1.1
G. Reed
on
03/11/12 at 07:59 AM
[Reply]
Call it what it is, "crony capitalism", the "good ol' boy network", "it's not what you know, it's who you know".
#1.2
speak the truth
on
03/12/12 at 08:29 AM
[Reply]
It's not the "help my friend sentiment" that you're speaking of. This is simply a help yourself sentiment. It just goes to show you how crooked people are these days, whether it's the banks or whomever. That's just kind of how things work around here. And the citizens, we're just supposed to sit back, shut up, and deal with it.
