That’s what Elizabeth Warren, chair of the TARP Congressional Oversight Panel said last Monday. ‘œThese loans are concentrated in the mid-sized banks,’ Warren told CNBC. ‘œWe now have 2,988 banks’”mostly midsized, that have dangerous concentrations in commercial real estate lending. As a result, the economy will face another very serious problem — to be resolved over the next three years… [and] things are unlikely to return to normalcy in 2010.”
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Rep Luetkemeyer (R-MO.), Calls Bank Regulators to Task
Across the USA, banks say there’s a big reason they aren’t lending more: Regulators won’t let them. Even as the White House exhorts banks to open the lending spigots, particularly for small-business borrowers who are key to job growth, banks say government field examiners are toughening their reviews in ways that discourage sound loans. Read the full story – here
