Reply #7: Inevitable [View All]

Lending USED to be reserved for credit-worthy peopke ONLY..

As incomes fell, or failed to keep pace with costs, more and more people NEEDED to borrow, and banks loosened up lending and issued bazillians of credit cards to people who had very little ability to ever pay more than the "low-low monthly payments"...

As for business loans , to meet payroll...well if your company is so stressed that loans are needed to make payroll every pay period, perhaps the business model is not all that great, or perhaps you should be working FOR someone instead of "running a business" that's only marginally solvent..

Banks may be looking closer , at small businesses that seem to be not making enough to be viable..and choosing to not loan anymore to them. Darwinistic Capitalism will work it's "magic" and eliminate the weak businesses:(

People no longer stay at one job for very long, and most people are not union, so they have little or no control over how much they make, or how to increase their earnings..

Banks have been on a runaway train, headed for a cliff...

They have arrived at their final destination:(..and we have all been taken along for the ride:(