I am ambivalent...not sure to be honest.
Should we have let all these financial institutions collapse and just dealt with it?
It's hard to say.
And since we “saved” them then why did we let Lehman collapse?
the damned problem is that so many small banks all over the nation and lines of credit to little Joes like me with just mid 8-10 figure commercial debt are dependent to varying degrees on Manhattan firm’s solvency.
What sucks now is that the bailout and TARP loans have just been used to create solvency at taxpayer expense and done zippo to increase credit.
Trust me on that one...it is very difficult to borrow today.
Like this letter says...cash is just sitting....folks are scared....of the economy and how the Federal government is screwing it up.
“What sucks now is that the bailout and TARP loans have just been used to create solvency at taxpayer expense and done zippo to increase credit.”
Leaving you and I with the tax bill, while the REAL value of our assets drop. Great deal, eh?
Small town Joe Bloe Banks lends money to developers for near by city's new strip malls and condo office buildings.