Courtesy of Lee Adler of the 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.
Get regular updates the machinations of the Fed, Treasury, Primary Dealers and foreign central banks in the US market, in the Fed Report in the Professional Edition, Money Liquidity, and Real Estate Package. Click this link to try WSE's Professional Edition risk free for 30 days!
Lee Adler is a featured author in this week's Market Shadows Newsletter, Comfortably Bullish.
Copyright © 2012 The Wall Street Examiner. All Rights Reserved. The above may be reposted with attribution and a prominent link to the Wall Street Examiner.