Should banks be lending just because a politician tells them to?
Investor’s Business Daily: "The White House thinks it can jawbone banks into lending to people they don’t want to lend to. We’ve been down this road before, and it led all the way to the 2007 financial meltdown. The president on Monday gave a tongue-lashing to the ‘fat-cat bankers on Wall Street,’ as he called them the day before. He wants them to make more loans to small businesses and consumers to give the economy a boost. We tried this before. Indeed, it’s the very source of the financial and economic calamity of the past two years."
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HELL NO THAT’S WHY WERE IN THIS FREAKIN MESS IN THE FIRST PLACE!
It was part of the bailout
Should millionaires be creating jobs JUST cause George Bush gave them tax cuts? that what the plan was
So stop being hypocritical
no because of the 700 billion not including all the fed monies and special rates
The reason for all this economic hardship wasn’t because the government taxed too much or spent too much. It wasn’t because the Federal Reserve raised interest rates or contracted the money supply. It wasn’t because the American consumer stopped spending or the poor stop paying their mortgages.
It was because the financial system knowingly overpriced a major financial asset class, and then leveraged itself against that asset class in the vain hope that the Day of Reckoning never came. And we bailed them out.
If banks had lent to creditworthy people with enough collateral to back up the investments we wouldn’t be in this trouble to begin with.
Lend to who? Loan demand is at an all time low!
If the White House would do something to make businesses feel better about expanding, they would expand!
I had to give up my 3 employees and get a job this year… I would LOVE to go back to working out of my house… I love going to work without pants… But until I know what it is going to cost me, why worry about it? I have a nice cushy BIG CORPORATION job to go to…
Seeing that we just paid for a MASSIVE BAILOUT, I have no problem with the administration encouraging the banks to start lending money again. The money doesn’t do anybody any good when it sits in their vaults.
"Indeed, it’s the very source of the financial and economic calamity of the past two years." It was indeed when done with abandon, the way they gave loans to every tom, dick and harry with their hands out, even when not credit worthy. Loans only done out of greed. The President is right, they need to start loans to credit worthy people and leave their greed out of it.*
I wonder… who saved their asses?
What was the purpose of them being saved if they aren’t going to do anything?
The banking industry is starting to see what a fraud this government is. That’s why their starting to pay back the bail out money. Now the government wants to start the whole scam over of lending to people who cant or have no intention of paying off their own debt. The US leadership is a disgrace and in shambles.