Suppose that you were in a job where a lot of people were doing the same thing. Now suppose all of the people around you were failing at their job, but you were succeeding. The boss comes around, you would expect he would praise you, right?
Well not if you were a bank. Seems a bank in Massachusetts was doing a good job. Actually, an exceptional job. They had NO bad loans. While this article isn't clear, I would assume they got no TARP money since they had no Troubled Assets that needed Recovering (that's the TAR part of TARP).
But instead of praising the bank, the FDIC is criticizing them. Saying they should have taken more risk. Helped out "the community" more. Now I'm all about helping the community. Search back through my blog for the word VITA and you'll see the way I'm doing this now. Taking every Friday & Saturday afternoon, not to mention the classes I went to before that. But that's my choice.
If this bank wants to help the community, there are lots of ways they can participate. I'm willing to bet they already help in a lot of ways, they've just chosen not to write bad loans. Isn't that what got us into this trouble?