"the huge market known as the shadow banking system.... securities backed by consumer credit cards, auto loans, and small business loans"
And WHO WATCHES that ring of thieves?
Why the FEDERAL RESERVE of all people.
The same people who don't want an audit because of their thievery.
"Fed extends program to encourage lending" by Martin Crutsinger, Associated Press | August 18, 2009
WASHINGTON - The TALF... has experienced only limited success in its major goal of jump-starting loans to support the market for securities backed by consumer credit cards, auto loans, and small business loans - the huge market known as the shadow banking system.
“If these markets are not working, then credit does not flow freely to US households and businesses,’’ said Mark Zandi, chief economist at Moody’s Economy.com.
And LOOK at what has happened over the LAST YEAR!
TRILLIONS in LOAN LIQUIDITY DISAPPEARED!
The program got off to a lethargic start, hobbled by rule changes, investor worries about financial privacy, and fears that participants might become ensnared in an antibailout backlash from the public and Congress....
Like public backlash ever stopped them from doing anything these last few years.
They simply ARE NOT HEARING US ANYMORE, America.
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Besides, with the HUNDREDS of THOUSANDS of JOB LOSSES every month, WHO CAN AFFORD to BORROW -- let alone get APPROVAL for the LOAN?
"Lending to be tight in 2010, poll says" by Associated Press | August 18, 2009
WASHINGTON - “The [Federal Reserve] report tells us that credit is not becoming more readily available, but also that the credit freeze is at least moving in the direction of a thaw,’’ said Joseph LaVorgna, chief US economist at Deutsche Bank Securities.
Isn't it amazing that they ran with that lie for a year as they stole your tax loot, America?
Getting banks hurt by the financial crisis to boost lending is critical to an economic recovery....
Salt shaker, please, reader. Thank you.
See what I mean about double-talking garbage?
Never ends....
"For Bernanke, timing is crucial" by Jeannine Aversa, Associated Press | August 21, 2009
WASHINGTON - Americans still have trouble getting loans....
Trillions the Fed has pumped into the financial system helped prop up shaky banks.
Oh, IT DID THAT!
THEY made RECORD PROFITS in the BILLIONS last quarter while WE ALL SUFFERED MORE out here in America!!!!!
It also was intended to unlock lending to people and companies, a key component of any recovery but one that so far has had only spotty success.
Hey, what is ONE MORE GOVERNMENT LIE transmitted by the AmeriKan MSM , huh? I'm starting to get into it, and that worries me!
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