Smarty_Pants

Moving the Deck Chairs on the Economic Titanic

"The carnage, without some support or assistance (and it doesn't have to be TARP, but nothing is going to easier), will now turn into a rolling boulder, regardless of what the Dow does in the next ten minutes. More banks will fail as overnight credit markets stay closed, small businesses will lose lending lines, consumers will retrench, etc."

WHY does everyone act like a Wall Street bank is needed for small town businesses to survive? You think the local greasy spoon fills out a loan app at JP Morgan or Goldman Sachs?

NO. They go to Podunk City bank and get a loan from the hometown banker. This will continue whether the Wall Street banks fail or not.

Besides, any business that can't STAY in business for more than a month without borrowing from a bank doesn't deserve to remain open. They are wasting valuable capital.

Claims to the contrary, like that made by Mr. Kedrosy amount to nothing more than scare-mongering whether they mean to or not.