January 9th, 2013
in Op Ed
Lee Adler, Wall Street Examiner
There’s this joke going around the mainstream media, including the lying liberal media (as opposed to the lying rabid right wing conservative business media) that banks aren’t lending.
Ha ha. Pretty funny.
It’s total bullshit. Since mid 2011, banks have been lending aggressively. US commercial banks have grown their loan portfolios by $600 billion or 9.2% since mid 2011.
That doesn’t count the $356 billion in Agency MBS they’ve added to their portfolios since mid 2009.
The banks are not only lending aggressively, they are supplementing the Fed in enabling the creation of mortgages via Fannie and Freddie.
These are not markets or an economy that needs any additional Fed stimulus. If anything, they will overheat faster than anyone expects.
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