Saturday, Mar 29, 2008
12-18 months
Bloomberg: if only I could get the Fed's help when I am bad
And now, fully qualified, would-be homebuyers looking for low-interest mortgages get turned away by lenders unwilling to pass along rate cuts the Fed gave them specifically to make lending easier and revitalize the economy.
Posted by bystander @ 08:23 AM (177 views) Add Comment
1 Comment
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1. it_is_going_with_a_bang said...
That would be because the Banks know very well that lending 'new' money on property is just too risky.
A real vote of confidence.
The only thing the Fed's lending policy is doing is lining the pockets of Banks, the very people who created this mess. Nice.