Tuesday, September 20, 2011

Sad State of Affairs

Apparently banks have too much money. They can't give it away.
"Banks and credit unions are doing everything they can to get rid of the cash except make loans," said Mike Moebs, a Lake Bluff, Ill., banking consultant.
Poor, helpless banks.
Bankers such as Robert H. Smith, former chairman of L.A.'s Security Pacific Corp., say the industry is being throttled by a combination of the weak economy and regulations that were tightened in the aftermath of the financial crisis.
 Really? We're going to blame this on regulation? Like, that's some immutable force that can't be changed?

Change the rules. Lend some money. Create some jobs. Get the economy moving.

Good grief.

No comments: