Tuesday, February 24, 2009
Further to my previous post, Total Bank Credit shows no sign of any significant slowdown in banks' lending activities. If anything, one might argue that the pace of bank lending in recent years has been quite a bit more generous than it was during the 2001 recession.
UPDATE: This directly contradicts one of the central tenets of Obama's policies. He claimed in his speech to Congress that "banks aren't lending." This is simply NOT true. Why isn't he being questioned on this?
Posted by Scott Grannis at 1:58 PM