Bridgewater Foreclosures
Would you like to see proof that the Community Reinvestment Act is bad for business?
East Bridgewater Savings has:
“Bad or delinquent loans?
Zero.
Foreclosures?
None.
Money set aside in 2008 for anticipated loan losses?
Nothing. ”
And because of smart managment how does the FDIC award the bank?
“the FDIC slapped East Bridgewater Savings with a rare “needs to improve” rating after evaluating the bank under the Community Reinvestment Act”
http://boston.bizjournals.com/boston/stories/2009/03/16/story3.html?b=1237176000^1793570&page=1
And banks have to ask for permission to return TARP funds.
Sounds like People’s Commissars have found their way to the USA.
Naples FL Home Foreclosure Bridgewater Bay
