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Heavy-Handed Politics

"€œGod willing, with the force of God behind it, we shall soon experience a world
without the United States and Zionism."€ -- Iran President Ahmadi-Nejad

Sunday, January 04, 2009

U.K. Rescue Fails to Spur Bank Loans - WSJ.com
LONDON -- A new U.K. lending survey shows banks sharply tightening credit to households and companies, intensifying worries that the government's £500 billion ($725 billion) bank-rescue plan is failing to get money flowing into the economy.

The report shows banks becoming increasingly conservative in lending practices, reducing maximum credit lines and cutting the size of mortgage loans as a percentage of home values. Banks said they were scaling back mortgage lending even as demand for new mortgage loans remained stable.  [Read more]

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