Eugene David
...The One-Minute Pundit

Tuesday, October 28, 2008


Banks are in defensive mode, reducing assets on their balance sheets and hunkering down for their annual year-end book closing. They aren't about to go back out on a limb with credit.

Add that to the slowing economy, rising joblessness and an unstable housing market, and it's a safe bet that lending will be slower for the foreseeable future, no matter how much the government urges bankers to ignore their own business instincts.


Business instincts? Wasn't it their brilliant business instincts that got them into the position to fleece Uncle Sucker?

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