Langford to protest FDIC program

Greg Langford, who once got a top Blockbuster Corp. official to apologize for insulting the Winder City Council, has set his sight on another corporate target: The new bank in town.

For the past few months, Langford has been waging a one-man battle against regulators’ dismantling of hometown community banks.

He’s got a blog called “losssharecroppersofamerica. wordpress.com”.

He’s posted educational videos on YouTube that explain in simple terms what is happening in the banking industry.

And on Saturday, the first anniversary of the Community & Southern Bank, he will be out in front of the former headquarters of The Peoples Bank carrying protest signs.

“I want to bring attention to this plight,” said Langford, who owns Athens Auto Auction in Bogart. “This is a $2 billion example of a $190 billion problem.

“I want people to know why banks are not going to modify your loans, are not going to work with you, but are going to call notes due, because they are getting reimbursed by the Federal Deposit Insurance Corp. It’s a done deal.”

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#1 Anonymous on 01/29/11 at 09:44 AM [Reply]

I read this article, and all I read over and over was "LOOK AT ME! LOOK AT ME!"

#2 Jones on 01/29/11 at 11:12 AM [Reply]

Who is this Langford fellow and why should anyone give a damn what he has to say?

#2.1 OldTimer on 01/29/11 at 01:25 PM [Reply]

It would be kinda nice if newcomers would live here longer than 15 minutes before they shoot their mouths off. Not saying I agree with Mr. Langford, but I value his opinion more than I would that of Jones.

#3 Alice N. Wonderland on 01/29/11 at 11:24 AM [Reply]

Shall we revisit Langford's last crusade? The one here painted as some triumph as Winder brought blockbuster to its weeping knees.

Some hapless Blockbuster suit make the rather innocent (and eminently sensible) remark that a store in Winder had to be stocked differently than one in New York City. Langford took this as an insult worthy of the guillotine and embarked upon a crusade to avenge the impugned honor of his podunk hometown.

Much verbiage and gnashing of teeth followed. In Winder, that is.
NYC took no notice.
This is Langford's claim to [local] fame.

Now he's taking on the FDIC.
Since those evil feds have destroyed a local benevolent institution, they are not fit to live, I reckon.

I wouldn't expect the FDIC to grovel before Greg as he thinks poor old beleaguered Blockbuster did.

You know, I liked Greg better when he stuck to chopping cole slaw.

#3.1 Anonymous on 03/06/11 at 09:24 AM [Reply]

You are so, so right!

#4 Justice on 01/29/11 at 03:22 PM [Reply]

What I am gathering Mr Langford's intentions are here is, he is trying to get people (that don't understand what is happening when the FDIC takes over a bank) what is REALLY happening. In Winder/Barrow's situation & I am sure many other communities. They have came in and taken over several of our banks, sold them to other banks, backed the "new" banks 80% on all the loans/notes that the bank assumed from the bank that was taken over. Therefore, when the loans/notes come up for renewal the banks are calling the notes due & will NOT refinace the loan/note (EVEN if the customer was never late on a payment, missed any payments ect.). In turn means, the customer either has to, pay the loan/note balance infull (which in most cases is impossible), or "try" to find another bank to take the loan/note (which most of the time the "collateral" is a home, commercial building or vehical). No other bank will take on the loan/note due to the fact that the "collateral" does not or will not appraise for what it did when the loan/note was made. So, in most cases, the collateral is foreclosed on or re-poed! Which ultimately, forces the customer to file bank rupt and pretty much loose everything the own! So, for our town/county is this is very devastating on top of the unemployment rate!!

#4.1 Anonymous on 02/02/11 at 08:45 AM [Reply]

I would like to second that...Adding to the unemployement rate how many people did Community & Southern let go? And may I add talented people. This Bank is only interested in turning a profit, I will give it 2-3 years and they will be selling it.

#5 The Wog on 01/30/11 at 06:47 PM [Reply]

Good job Greg! Thanks for your effort!
http://losssharecroppersofamerica.wordpress.com/

#6 Shirley on 01/31/11 at 02:41 PM [Reply]

I've known Greg all his life and I don't think he's saying look me, I think he's saying look at the banks and how the FDIC is forcing bankruptcy and foreclosure on borrowers. As for who is Greg, he grew up here, he graduated from UGA in Economics, and he has had a 30 year banking career. His campaign against Blockbuster was his defense for Winder and the community.

His father was a councilman for 30 years and represented Winder in an honest and caring manner. His father just so happened to look like Colonel Sanders and he was a notable character in our community. I think Greg is just following in his father's footsteps by trying to represent our community while being a bit of a character in the process.

#7 Outside Observer on 02/04/11 at 12:24 PM [Reply]

Fact: Blockbuster also stocks Harlem/San Francisco/Bangor differently than NYC (so why the over reaction ?? - its the same pettiness that prevents Winder from becoming a vibrant town like Buford/Lawrenceville/Gainesville)

#7.1 joe brooks on 02/09/11 at 01:27 PM [Reply]

AMEN

#7.2 Socrates on 02/09/11 at 03:18 PM [Reply]

Of course, Winder's video emporium was stocked differently than NYC, but your conclusion is ridiculous, that is, that "pettiness" prevents Winder from becoming another Buford, Lawrenceville or Gainesville. The first two are in Gwinnett county, a national site of colossal growth since the 1970s. Gainesville, much bigger than Winder to begin with, is the county seat of Hall, which has also experienced much growth. Thus, your conclusion, buttressed by one unrelated fact, is patently absurd. Because one thin-skinned local got his panties in a wad over the inventory at Blockbuster can hardly reasonably be extrapolated to explain how, in your view, that Winder hasn't prospered is, well, as utterly nonsensical as the original issue.

Try debating a bumper sticker next time.
You might win.

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Langford to protest FDIC program

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