From Yesterday’s Wall Street Journal
Lending at many of the nations largest banks fell in recent months, even after they received $148 billion in taxpayer capital that was intended to help the economy by making more loans readily available.
The article goes on to state “It has failed” said Campbell Harvey, a finance professor at Duke University’s business school. “Basically we have dropped a huge amount of money….and we have nothing to show for what we actually wanted to happen. The Wall Street Journal also states. Banks have scaled back on mortgage lending and reduced credit-card lines.
What are your thoughts?