Nice post - what amazes me is that the banks are still not lending to even qualified businesses and consumers - that has got to change or the high job loss numbers are going to continue. Frankly what pisses me off most is some of these squirly mortgage brokers and loan originators from banks knew full well these mortgages were going to be trouble. That each state AG isn’t getting ready to file criminal suites blows me away. I know guys that made huge $s pushing crappy paper and they’re going to skate.
They aren't going to lend more until it pays to do so. You can't be against bankers making a buck and demand they lend. They only do the second in order to do the first, and only if it does. "But I'm in favor of bankers making a buck". Ok, then people have to actually pay them back instead of welshing and walking. And if they won't in their capacity as borrowers, they will in their capacity as taxpayers.
Capital is paid for in full or it evaporates completely.