Quote:
Originally Posted by Steve_A
Hi ralok_j,
The initial bailout plan for the major banks was to help small businesses. Small businesses borrow from the major banks. The report was extremely clear.
The proposal was not to help small businesses. The additional bailout is for smaller finance companies to keep liquidity, so they can lend money to the public.
Best regards,
Steve
|
It's like I told my wife, there is (was) no provision in the bill to force the banks to increase lending activity. They strengthened the balance sheet, which is good, but there was no incentive to create growth. Do I blame the banks? Hell no, they realize the economics are weak. I blame Congress for throwing the half assed bill together.