Bank CEO Explains Why Bailout is a Bad Idea
The chairman and chief executive of BB&T Corp., submitted a 14-point letter Tuesday to all 535 members of Congress on the bailout:
"There is no panic on Main Street and in sound financial institutions. The problems are in high-risk financial institutions and on Wall Street."
"Community bankers did not create this financial crisis, but our banks and communities are clearly feeling the impact," the Independent Community Bankers of America said in a statement. "As the fundamental drivers of local economies — we could be in a strong position to help resolve this crisis."
