luigi0753

Do Banks Have an Obligation to Lend?

I am amazed at the number of people who don't realize that lending is a two-way street. We were planning on buying a second car back in October, but our investment portfolio dropped so much (could have bought 3 cars with the lost value) that we decided not to. I already had loans approved at two banks - I just had to decide which one to go with. Normal lending activity will not improve until borrowers aren't worried about losing their jobs.