You know times are tough when bank presidents have banking problems

There are the bankers on Wall Street who carry home cash in a wheelbarrow, without ever having to sign on a line for anything.

They run the bank into the ground, get multimillion-dollar bonuses- get bailed out by the taxpayers and then “retire” with a big fat golden parachute and a pension for life.

Then there are real people, like:

Dayton City Commissioner Joey D. Williams, president of Chase Bank in west Ohio, has been named in a lawsuit filed on behalf of Fifth Third Bank and faces a financial judgment stemming from the default of a small business loan…
The loan was for the Popeye’s Chicken & Biscuit restaurant at 5800 Wilmington Pike in Centerville, which is closed.

The lawsuit was filed in late 2009 in Montgomery County Common Pleas Court. A Dec. 1 judgment awarded the bank $850,000, which includes court costs of $113,039, according to court records.

via City commissioner named in loan default case.

I’ve known Joey well for over twenty years. I’m sure this is quite embarrassing to him- as well as a financial burden. But, the reality is, at least he actually put his own money up in starting a small business, that employed people. I’m pretty sure that 5/3rd took special pleasure in making an example out of a competitor, instead of working out a deal.

To me, this just says that Joey’s more like us than like the political slime that goes into office driving a Dodge Shadow with a Bush I bumper sticker- and ends up a multimillionaire congressman driving Cadillacs (Mike Turner).

Times are tough. Welcome to the club Commissioner Williams.

If you enjoyed this post, make sure you subscribe to my RSS feed! If you wish to support this blog and independent journalism in Dayton, consider donating. All of the effort that goes into writing posts and creating videos comes directly out of my pocket, so any amount helps!