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Originally Posted by Danzig
just read yesterday about banks that have money to lend, but no one wants to borrow....savings higher than it has been in years. THAT is the problem here. if you sit on your money, no new jobs-loss of more jobs that exist right now. those with true means to create jobs (other than the govt-and most of the 'stimulus' package was giveaways, that won't create jobs) aren't even making the attempt right now.
it's a waiting game. everyone is waiting for things to change-but until some in the private sector with the wherewithal to make REAL changes do so, we'll continue to do bad, or worse.
we've always come out of a recession, i don't see why this one will be any different. it's just a matter of how bad it gets, and how long it takes to start moving in the right direction. but it will happen, hopefully sooner rather than later.
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This isnt exactly true. The govt (which is to blame for much of the core banking problems via Fannie Mae and Freddy Mac and their support of the lending to unqualified groups and individuals for political reasons) has imposed draconian rules and regulations on banks and the banks simply are afraid of them and quite frankly as i was told by a banker this week, arent completely sure what the bank rgulators want. So they are being very cautious with lending and are imposing harsh terms on the consumer in order to be in compliance. Banks dont make money unless they lend.