Tuesday, January 20, 2009

The President's First Action

The first move of the new President must surely be to demand that banks which have received massive public money support through the rescue package immediately begin to LEND. This major function of banks has all but ceased even though the rescue package was built on a platform of expected lending.
The banks however are hoarding the money as squirrels do.
It looks as if the idea of an aggregator bank controlled by Washington is going to become a reality sucking up all the toxic assets littering the American banking landscape, freeing them from fear and getting them back to their primary function...ie capital flow.

But different to the long transition period between Presidents we will know within days if the new administration has the muscle to attack the banking crisis.

DeepLode is in no doubt that America is about to move!

And for a wide spectrum of views on this topic log onto hotcopper.com.au

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