(The Georgia Public Policy Foundation and the Competitive Enterprise Institute released this Issue Analysis that discusses the impact of federal banking laws in Georgia.)
By John Berlau
Few states have been hit as hard by the financial crisis as Georgia. With her economic engine humming and unemployment hovering around 5 percent for several years until 2008, Georgia suddenly saw thousands of mortgages our and dozens of banks fail in a slide that continues to this day.
The Federal Deposit Insurance Corporation has closed at least 80 banks in Georgia since 2008, more bank failures than in any other state in the union. Even the largest banks in the Peach State are facing a struggle. In March, Atlanta-based Sun Trust…