johnhaskell

One Reason Why Banks Are Not Lending

why should banks lend? The Fed is doing it for them, at interest rates which do not take into account a long and deep recession. TARP funds are rationally better used to buy out the competition.

Keep in mind two things: this is the Administration that was in charge of the recovery from Katrina, and you can't spell "worst president ever" unless you start with a "W."

This will help you put ineffective policy responses into context.