Banks Are Tightening Credit Bank Survey Shows, Plus Scary Greenspan quote

[Daal]

from the Age of Turbulence
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5txizf_sIwE&refer=home
http://www.federalreserve.gov/boarddocs/snloansurvey/200805/charts.pdf

 

[Daal]

he is talking about the 90-91 real estate downturn btw. His book is actually very good, easly the best finance related I read in 2007, and he is not as bad as the media make him look like, he did not engineered the housing bubble. he might have made a mistake with too low rates but he had plenty of help from other forces plus its foolish to think 100bps higher fed funds would have prevented the housing boom

 

[makloda]

Interestingly, the SP500 experienced a shallow drawdown of something like 18-19% in the fall of 1990 and made new all time highs by December. The real world economic recovery took much longer.

 

[eveningtrader]

Do we need a rocket scientist to tell us why the banks are tightening up credit? After all, they losses total up hundreds of billions.

 

[maxpi]

Quote from eveningtrader:

Do we need a rocket scientist to tell us why the banks are tightening up credit? After all, they losses total up hundreds of billions.

But I still trust them with my money!!