That’s thinking like the banks. All of a sudden, EVERYone has bad credit and is not worth lending to, despite the fact that 95% of us pay our bills on time.
Yes, it's about time banks start thinking like banks. Credit, collateral and character. If all three are good they'll lend you money. I, and most the people I know, are inundated with solicitations to lend us money. Mortgages, home equity loans, car loans, business loans, consolidation loans, they are all easy to get, and at great interest rates, for people with good credit.
Banks are lending money every day. The bailout is about banks lending to each other which many refused to do because of the bad credit risk. Banks can only make money buy loaning out their deposits and they are still doing it.