Obama: Time for banks to boost lending
Obama: Time for banks to boost lending
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Summary:
Obama: Banks, lend more money to 'stimulate' the economy. [The government] can tell you what to do since we bailed you out.
Banks: Irresponsible lending is what got us into this mess. Loan applications are down. We must retain more capital. There is less to lend.
Obama: "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street,"
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There's really no way to win if you're a bank. Lend money, get slammed for 'predatory lending'. Hold on to money, get accused of being a 'Wall Street fat cat'.
Personally, I have not seen a decrease in available capital for legitimate loans to qualified borrowers.
--
Summary:
Obama: Banks, lend more money to 'stimulate' the economy. [The government] can tell you what to do since we bailed you out.
Banks: Irresponsible lending is what got us into this mess. Loan applications are down. We must retain more capital. There is less to lend.
Obama: "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street,"
--
There's really no way to win if you're a bank. Lend money, get slammed for 'predatory lending'. Hold on to money, get accused of being a 'Wall Street fat cat'.
Personally, I have not seen a decrease in available capital for legitimate loans to qualified borrowers.
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