Have You Heard The One About Banks Not Lending?
From The Wall Street Examiner Email Bulletins Archive
January 6, 2013 - 10:52am
There’s this joke going around the mainstream media, including the lying liberal media ( as opposed to the lying rabid right wing conservative business media) that banks aren’t lending. Ha ha. Pretty funny. It’s total bullshit. Since mid 2011, banks have been lending aggressively. US commercial banks have grown their loan portfolios by $600 billion or 9.2% since mid 2011. That doesn’t count the $356 billion in Agency MBS they’ve added to their portfolios since mid 2009. The banks are not only lending aggressively, they are supplementing the Fed in enabling the creation of mortgages via Fannie and Freddie. Follow my comments on the markets and economy in real time @Lee_Adler on Twitter! Stay up to date with the machinations of the Fed, Treasury, Primary Dealers and foreign central banks in the US market, along with regular updates of the US housing market,...Continue reading this article »