“What we’re trying to do is get banks to do what they are supposed to do, which is support the system that we have in America. And banks exist to lend money,” White House press secretary Dana Perino said.
AP via Yahoo! Finance Oct. 28 2008
As these banks and institutions are reinforced and supported with taxpayer funds, they must meet their responsibility to lend, and support the American people and the US economy. It is in a strengthened institution’s best financial interest to increase lending once it has received government funding.
Anthony Ryan, Acting Under Secretary for Domestic Finance
Oct. 28 2008
Iceland’s central bank raised its benchmark interest rate by six percentage points Tuesday, to 18%...which more than reverses a three-and-a-half-percentage-point cut made just two weeks ago.
by Charles Forelle
The Wall Street Journal Oct. 28 2008love1
