Future of Credit

Originally Posted by classicman

The administration gave these banks a SHITLOAD of money under the assertion that they would lend it out - The banks haven't done that. Instead they have increased the pay and bonuses of their executives.

In fact, the TARP funds were given mostly by the previous administration and most banks have payed in full and are lending again, but more selectively, particularly those (like Wells Fargo after buying Wachovia - just one example) still paying off the bad assets of the banks they absorbed.

And capping bonues of the execs has been proposed and blocked in the Senate.

Got any ideas how to get past that roadblock?