News 12 at 6 o'clock--April 15, 2009
AUGUSTA---Last week, News 12 brought you the story of several jets that flew into the Augusta area during Masters Week that are owned by some banks that have been in the headlines lately.
News 12 has since learned that while the jets are owned by the Wachovia and Bank of America, they are not operated by them. We have been told the banks have no input on where the planes fly or when.
The banks provided loan money to private individuals to buy the planes, but they are not paid off yet and thus, they are still owned by the banks. It is not much different than a mortgage or car loan. You live in the house or drive the car, but the bank still technically is the owner until you pay off the balance.
Both banks were asked if they were sending any private jets to Augusta for the Masters and both replied no.