From the Atlanta Business Chronicle:
Despite Georgia being the epicenter of the nation’s banking crisis, Gov. Sonny Perdue’s proposed state budget would not fund unfilled bank regulator positions that insiders say are desperately needed as the state’s banking woes worsen.
The fiscal year 2011 spending plan released Jan. 15 by the governor’s office would cut $729,265, a reduction of 6 percent, from the department’s fiscal year 2010 budget.
In particular, $276,461 of the cuts at the Georgia Department of Banking and Finance (GDBF) comes from not filling six open positions for bank examiners. Georgia already leads the nation in bank failures and the GDBF regulates more than 250 state-chartered banks with these guys.