Did you hear what U.S. Treasury Secretary Timothy Geithner had to say about lending practices today?
In an interview on National Public Radio, Geithner was quoted saying the following:
It is interesting to hear him publicly admit how bank lending has gone from one extreme to the other. From the outside looking in, Geithner can clearly see how excessively tight lending practices from banks could be a real hurdle to the health of the economy.
What Geithner fails to recognize is that banks are more restrictive not of their own accord but because the government has wielded their will onto banks through legislation and government oversight.
If Tight Lending Threaten U.S. Recovery, What Can We Do?
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