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"Lending NOT Required"- Banks Getting more of OUR Money, FOR NOTHING IN RETURN

...read the bold in this article. The banks are going to get billions more for NOTHING......


WASHINGTON — After weeks of internal debate, the Obama administration has settled on a plan to inject billions of dollars in fresh capital into banks and entice investors to purchase their most troubled assets.

The new financial industry rescue plan, to be outlined in broad terms on Monday in a speech by the Treasury secretary, Timothy F. Geithner, will not require banks to increase their lending. That is despite criticism that institutions that already received money from the Troubled Asset Relief Program, or TARP, either hoarded it or used the funds to acquire other banks.(full article at link)

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they are just covering their asses. They are worried that if they lend, they won't get paid back. My bank is still lending, but very conservatively. I think this is a good thing, as this is what got us in the mess we are in. I would still like to see an end to fractional reserve banking, and the FED, even though it could put me on the unemployment line.

bogus lending

While the banks should not get gov't handouts, forcing the banks to lend isn't going to fix the problem of excess debt.



2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.