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« THE DESPERADO AND THE DEFICIT | Main | SPECTRUM WHITEWASH »

Aug 25, 2004

WHY NATIONAL CITY WAS THE PIGEON

Rod Kackley of the West Michigan Business News had an article in the August 23rd edition that explains why National City's community development corporation was roped into the Berkey & Gay redevelopment scam. Kackley reports that National City, unlike most other banks, actively markets its community development corporation across the country looking for deals to liquidate historic, low-income housing, and other urban development tax credits. That made National City the mark as the source of cash to over-fund the costs of redeveloping the Berkey & Gay furniture factory site into The Boardwalk residential-commercial complex.

I realize I am talking more to myself here than to readers of this website, who are not familiar with all the references and connections I am making. I assure you this is a very serious matter involving the abuse of publicly chartered banks. Keep Kackley's article in mind as this story develops and connects to the Berkey & Gay hazardous waste complaint.

Posted by Wm Tingley on Aug 25, 2004 at 05:01 PM in Banks |

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