Green Banking

“Green Banking”: providing a new opportunity to fleece the banking system:

http://www.chicagotribune.com/business/chi-tue-green-banking-jun16,0,6719434.story

Consider these policies:

• The banks are marketing Earth-friendly policies such as lower interest rates on loans to green builders and borrowers who buy fuel-efficient cars, as well as incentives to depositors who opt out of paper statements.

• Redstone Bank, which was renamed Green Bank in 2007, emphasizes home-efficiency projects. For example, a green home-improvement loan with a principal of at least $200,000 will receive annual rewards of $500. The bank's Web site outlines required improvements, including water-saving dual-flush toilets.

What happened to the concept of making loans based on the ability to repay? "Green Banking" will make the “liar loans” of the last debacle seem reasonable.