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View Full Version : Banks Hoard Money Meant to Boost Economy, Lender Says (Update1)



mick silver
23rd October 2008, 21:27
By Jody Shenn

Oct. 23 (Bloomberg) -- Banks getting $125 billion from U.S. taxpayers to unlock the credit crunch are saying they'd rather hoard the money than use it for loans, the head of the largest independent mortgage company said.

Treasury Secretary Henry Paulson is injecting capital into institutions including Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc. on the expectation they would step up lending and investing to prevent the economic slowdown from getting worse. That isn't happening, said Lee Farkas, chairman of Ocala, Florida-based Taylor, Bean & Whitaker Mortgage Corp.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1Q..LbJAwcs&refer=home

Tribal Warrior
23rd October 2008, 21:31
The first 125bln ain't going to do a thing. It'll probably take another 250bln before we see any real movements in the credit markets. Doesn't really matter, the rush into USD$ is going to doom the USD$.

balou2
24th October 2008, 02:41
This is ridiculous. All your posts are mainstream media, and have little to do with the silver market. While I'm sure your reasoning is for positive means, this is all mainstream stuff. Don't clutter the board with it. Why do you think nobody replies to these?

No offense...seriously...I just don't believe these posts, that are OVER AND OVER AND OVER again-made, need to be sited on this forum. While some political posts may have value, if I wanted a political forum, I'd sign up for CNN.

Flame away folks..truly...it's just my opinion. While the mainstream media floods our every-breath in life, we don't need it here. Let's stay with what we know...the silver market. Some things connect, but damn...why post every single global economic folly?