Bank Investments
In November 2011, it was reported that Gingrey received stock benefits, potentially in violation of congressional ethics rules, from his role as an investor and board member of two Georgia banks. One of these banks, Bank of Ellijay, failed in September 2010 and was taken over by regulators at a cost of $60 million to taxpayers. Gingrey's office denied any conflicts of interests.
Read more about this topic: Phil Gingrey
Famous quotes containing the words bank and/or investments:
“The prairies were dust. Day after day, summer after summer, the scorching winds blew the dust and the sun was brassy in a yellow sky. Crop after crop failed. Again and again the barren land must be mortgaged for taxes and food and next year’s seed. The agony of hope ended when there was not harvest and no more credit, no money to pay interest and taxes; the banker took the land. Then the bank failed.”
—Rose Wilder Lane (1886–1968)
“In youth, love and art. In age, investments and antiques.”
—Mason Cooley (b. 1927)