IrvineRenter_IHB
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[quote author="awgee" date=1225059353][quote author="profette" date=1225058250]<a href="http://www.nytimes.com/2008/10/25/business/25nocera.html?em">So When Will Banks Give Loans? </a>
<span style="color: purple;">What will Chase do with its $25 Billion early Christmas gift from the taxpayer? Will the money be used to help out "Main St." as our President promised?</span> <span style="color: red;">NOOOOOOOOOOO:</span>
"In point of fact, the dirty little secret of the banking industry is that it has no intention of using the money to make new loans. But this executive was the first insider who?s been indiscreet enough to say it within earshot of a journalist..."</blockquote>
If Main Street was the real concern, could not the banks have been sidestepped and the trillions spent so far been loaned directly to Main Street?</blockquote>
I have been reading Mish lately, and I agree with him that the banks shouldn't be lending. What do we need more of? What "pent up demand" really exists in the marketplace? It seems to me that the years of easy money has given us an oversupply of just about everything.
I think Paulson knows this money will go into acquisitions and consolidations. So what? If that is the best use of the money, so be it. At least the US Taxpayer might see a return on their investment if the banks use the money wisely rather than waste it on more bad loans.
This program had to be sold as a way to help Main Street, and ultimately it will help -- after all the bank consolidations to come.
<span style="color: purple;">What will Chase do with its $25 Billion early Christmas gift from the taxpayer? Will the money be used to help out "Main St." as our President promised?</span> <span style="color: red;">NOOOOOOOOOOO:</span>
"In point of fact, the dirty little secret of the banking industry is that it has no intention of using the money to make new loans. But this executive was the first insider who?s been indiscreet enough to say it within earshot of a journalist..."</blockquote>
If Main Street was the real concern, could not the banks have been sidestepped and the trillions spent so far been loaned directly to Main Street?</blockquote>
I have been reading Mish lately, and I agree with him that the banks shouldn't be lending. What do we need more of? What "pent up demand" really exists in the marketplace? It seems to me that the years of easy money has given us an oversupply of just about everything.
I think Paulson knows this money will go into acquisitions and consolidations. So what? If that is the best use of the money, so be it. At least the US Taxpayer might see a return on their investment if the banks use the money wisely rather than waste it on more bad loans.
This program had to be sold as a way to help Main Street, and ultimately it will help -- after all the bank consolidations to come.
