CALHOUN, Sept. 5, 2012 — The notorious “Meth 6” motel here has sold in foreclosure for pennies on the dollar, potentially clearing the way for lenders to pursue two Georgia lawmakers for a defaulted loan. On Aug. 16, after the abandoned motel brought $370,000, a Gordon County judge signed an order allowing a bank to seek payment on the rest of a $1.88 million debt from U.S. Rep. Tom Graves and Sen. Chip Rogers. Graves says the order is merely a formality.
Not even Davy Jones could keep Atlantic Southern Bank from closing Friday, costing federal insurers $273.5 million. Nor could the ex-Monkee, hired as the bank’s spokesman in 2008, draw attention away from improper transfers of cash by the bank’s holding company.
Ga. leads nation in criminal punishment: Billion-dollar burden or justice? School central offices costly Despite bank failures, Ga. sheds bank examiners
Opinion: Bank failures — why Georgia? State senator’s firm capitalizes on his office Fleecing the dream: How Atlanta’s elite twists MLK’s ideals to rob working-class blacks Ethics debate doesn’t slow down lobbying Vacation policy takes toll on state budgets SCLC strife continues with new vote to oust officials
Opinion: GA Legislature oddly incurious about bank failures Doraville political activist not guilty of assaulting workers Ex-Albany official’s wife surrenders, pleads guilty Augusta proposes restrictions on media Bibb superintendent to stay on job during ethics probe
House speaker’s ex-wife alleges controlling relationship — even after divorce Bank failures more costly than S&L crisis
Audits shine harsh light on Ga. bank failures Cobb school board to vote on transparency options Jekyll Island residents find proposed land leases unattractive
Georgia leads the nation in bank failures. What better time to chat up a Web site that uses public records to analyze the strength of every bank in America? BankTracker calculates and publishes a “troubled asset ratio” for every bank, as well as other key financial information, all derived from public filings with the Federal […]