Filed under: Consumer experience, Market matters, Money and Finance Today, Personal finance, Federal ReserveWe had a parade of bank executives meet with the House Committee on Financial Services. Each one had a set of prepared remarks that described how their banks were lending money and how they are trying to use the money that the U.S. Treasury gave them wisely.
There is no doubt that these bankers are lending money. That is not the problem. The problem is the rate at which they are lending this money. The Federal Reserve has lowered the "prime rate" to 3.25%. The prime rate is the rate at which corporations with the best credit can borrow. So this money should have been lent out at 3.25%, or 1% higher, at 4.25%.Continue reading Banks not playing fair with TARP money -- should
Related Headlines
- Remember Advanced Micro Devices?posted 810 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Land a few points with Vonage (VG) sharesposted 812 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Thanks to rich people, Sotheby's (BID) will be just fineposted 811 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Sears Holdings Brand and Land Valuesposted 812 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Six Flags' Next ride: $1 a share free-fallposted 811 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- JP Morgan likes Crocs (CROX), should you?posted 811 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- E*TRADE gets spanked again, Subprime styleposted 811 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Shoe Pavilion (SHOE) balks the earnings callposted 811 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Value Investing 101 - Bill Miller's Q3 Letterposted 811 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Dendreon's Q3 Conference Call happens todayposted 811 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke