Headlines like this seem to be the rule and not the exception. The story is an interesting one. A local bank that puts Bible phrases on its banking billboard and mixes Christian faith and money.
Riverview Community Bank, an Otsego bank that bet heavily on real estate and was known for mixing Christian faith with finance, has been ordered by federal regulators to clean up its lending practices.A quick search informs us that this bank is actually owned by former Secretary of State, and current State Representative Mary Kiffmeyer. In fact, Kiffmeyer is not only a director of the Riverview Community Bank, she's the owner.
Politicians use catchy little phrases like this to define themselves as candidates. Unfortunately for State Representative Mary Kiffmeyer, our former Secretary of State, her catch phrase carries little weight.
Among the many things Kiffmeyer believes in is "limited government". Certainly Kiffmeyer and her "limited government" friends are steaming at the fact that the FDIC had to step in to keep her bank solvent.
So, in light of all the banking industry problems and the foreclosure crisis which is even more problematic in NW Wright County (Otsego, St Michael, Albertville area) I find it disturbing that Kiffmeyer and her bank are, well...dab smack in the middle of all this.
Wright County recently had 23 pages of foreclosures in our local paper.
As the owner and a director of the Riverview Community Bank, Kiffmeyer allowed problematic lending to occur to such a level that the FDIC had to step in?
How can Kiffmeyer effectively represent the people of HD 16B when she can't even run her own business?
A trusted conservative?
There have been rumors out there that Kiffmeyer may be a Lt. Governor or even Governor candidate in 2010.
If find a significant amount of humor in pondering this.
Who would Minnesotans trust with their money? The conservative depiction of a "tax and spend" liberal or an incompetent bank owner?