Capitalism in One Lesson

Perhaps you’ve heard of the announcement by BB&T not to take part in commercial lending on projects that involve eminent domain. Good for them. Better late than never, in this case.

One of the links in that article linked to above is to BB&T’s vision, mission and purpose page. Go read that and tell me it’s not just one great concise package on what capitalism is all about. Every essential and implication is right there.

Update: OK, I just did a bit more digging. Go read BB&T’s values page. Keep in mind that we’re not talking about some mom & pop, here. BB&T is the nation’s 9th largest holding bank with $109 billion in assets. I would venture that there in no company in the world of this import that has anything even remotely like this on their website. It is at once sad and encouraging. Well, that does it. I am contacting them to begin both a personal banking relationship and a business one as well.


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2 Comments

  1. Kyle Bennett on February 4, 2006 at 07:15

    Holy Shit!

    This is the second major publicly traded corp I know of that is run by objectivists. They don't offer personal accounts in Arizona, but they do have a number to call to see if they can still work with you, so I'm going to call them on Monday, if nothing else to express my respect for their position on property theft.

    I think I may also inquire to BOA, my bank, to see if they plan to get on the bandwagon and adopt a similar policy.

  2. James Shott on February 4, 2006 at 20:02

    Quite impressive.

    Good post.

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