As Banks Exit TARP, Obama Seeks New Ways to Boost Credit

Business Week by Bradley Keoun | Dec. 17, 2009 (News Report)
The President wants to get loans flowing faster. In a post-TARP banking world, he'll have to get creative

The Obama Administration didn't waste any time in getting its economic message across to Wall Street. As the last big banks scrambled to return their bailout funds in mid-December, the President summoned top Wall Street chiefs to the White House, urging them to increase lending to companies and individuals. "Now that they're back on their feet, we expect an extraordinary commitment from them to help rebuild our economy," Obama told reporters after the ... Full Story »

Posted by Kaizar Campwala - via Business Week , Google News (Business)

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Subjects: U.S., Business
Topics: U.S. Economy, Finance
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# Tweets: 1 (as of 2009-12-16)
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Posted by: Posted by Kaizar Campwala - Dec 16, 2009 - 8:20 PM PST
Reviewed by: Kaizar Campwala (review), Derek Hawkins (review), Gary Anderson (review)
Content Type: Article
Edit Lock: This story can be edited
Edited by: Kaizar Campwala - Dec 17, 2009 - 7:16 AM PST

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Derek Hawkins
3.8
 by Derek Hawkins - Dec. 17, 2009

Regulators are encouraging the cautious stance. The post-TARP capital levels may become the new norm for big banks, says Ernie Patrikis, a former ... More »

See Full Review » (10 answers)
Kaizar Campwala
3.9
 by Kaizar Campwala - Dec. 17, 2009
Kaizar posted this story.
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Gary Anderson
5.0
 by Gary Anderson - Dec. 17, 2009

This is a very accurate article regarding the bank shackles that keep them from lending. It leaves out the eventual mark to market accounting that will be imposed sometime between now and 2019, but you get the idea. There are many reasons why the banks are squirreling away money and not lending. Too bad Obama didn't anticipate this, and he had Japan to look at as an example. Then perhaps he would have saved more out for Main Street and created alternative banks, letting these useless, too-big-to-fail banks go under. But now it is too late and Obama doesn't have the money, and the banks don't want to part with theirs.

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