Begin forwarded message:
From: "Ronald J Riley \(RJR Com\)" <rjr@rjriley.com>
Date: April 20, 2009 6:07:58 AM EDT
To: <dave@farber.net>
Subject: Why Loan When Banks Are Flush With The Publics' Money?
Dave, for IP.
According to the Wall Street Journal “Lending at the nation's biggest banks has fallen more sharply than previously realized, despite government efforts to pump billions of dollars into the financial sector.
According to a Wall Street Journal analysis of Treasury Department data, the biggest recipients of taxpayer aid made or refinanced 23% less in new loans in February, the latest available data, than in October, the month the Treasury kicked off the Troubled Asset Relief Program.
Could it be that with billions of dollars of the publics’ money that the banks do not need loan revenue?
Ronald J. Riley,
Direct (202) 318-1595 - 9 am to 9 pm EST.