Mobile Financial Headlines

Banks not playing fair with TARP money -- should lend at lower rates!

posted 772 weeks ago on BloggingStocks

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