Banks Insult The Government By Lowering Lending
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Banks are getting TARP money, but they are not using it to ease credit to consumers and businesses, at least to extent that taxpayers and some members of Congress believed that they should.
According to The Wall Street Journal, “the biggest recipients of taxpayer aid made or refinanced 23% less in new loans in February, the latest available data, than in October, the month the Treasury kicked off the Troubled Asset Relief Program.” The financial firms may be using the capital to brace their troubled balance sheets.
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According to The Wall Street Journal, “the biggest recipients of taxpayer aid made or refinanced 23% less in new loans in February, the latest available data, than in October, the month the Treasury kicked off the Troubled Asset Relief Program.” The financial firms may be using the capital to brace their troubled balance sheets.
Read Full Story >>
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