Obama wants banks to loosen credit. Has everyone forgotten that he used to claim the easy credit was one of the items leading to the bank troubles? Who said that allowing people not credit worthy to get over their heads was the banks’ fault? How will increased lending be different this time?
People are going to go to the bank in droves and ask for loans. They will not all be credit worthy. It looks like it will just repeat the last scenario.
Are banks really not lending? Perhaps, the loan applicants are just not qualified. We do not want to lend to people that cannot pay back. This is the mess we have now and bailed out.
Tuesday, December 15, 2009
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