Saturday, October 10, 2009

Running on fumes

Banks cutting back on loans to businesses

U.S. banks are reducing their lending at the fastest rate on record, tightening the credit squeeze and threatening to leave many otherwise viable businesses unable to borrow money to expand their businesses, meet their payroll or refinance their maturing debts. Despite more than a trillion dollars from the Fed and from the Troubled Asset Relief Program, "the banking system has still not fully recovered," New York Fed President Bill Dudley said in a speech this week.

Posted by devo @ 09:28 AM (1051 views)
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5 thoughts on “Running on fumes

  • Not to worry, lots of cash is coming in from China – they’re buying the Humvee.

    I guess its fair to assume they are buying in (recently deflated) dollars?

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  • fallingbuzzard says:

    Its also fairly safe to assume that the manufacturing is going to be transferred to China

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  • 2. fallingbuzzard

    That was planned years ago. Carbon tax free zone. Wait and see. : )

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  • Brown’s bounce back in the economy seems to be at odds with the US banks.

    That makes as much sense as Obama getting the Nobel Peace Prize. Go figure!

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  • fallingbuzzard says:

    Imagine the headline “Brown pessimist on economy. Hard times ahead.”

    Didn’t he tell us that we need to tighten our belts back in 2008?

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