The View From 1776
Sunday, December 13, 2009
Democrat/Socialists have only a nodding acquaintance with economic reality.
The New York Times reports that banks have imposed tighter credit standards and are lending less freely to individuals and businesses than during the housing boom.
The most recent Federal Reserve survey of lenders found that they were continuing to tighten terms for business and household loans. Banks say they are under pressure from regulators to raise their cash reserves, which means fewer loans. They also argue that a troubled economy breeds extreme caution.