Banks Choking Business Credit

Banks Choking Business Credit

Fed Chairman Ben Bernanke would prefer to avoid another emergency

Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring.

Two vital forms of credit used by companies — commercial and industrial loans from banks, and short-term “commercial paper” not backed by collateral — collectively dropped almost 3 percent over the last year, to $3.27 trillion from $3.36 trillion, according to Federal Reserve data. That is the largest annual decline since the credit tightening that began with the last recession, in 2001.

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“If the News is That Important, It Will Find Me”

“If the News is That Important, It Will Find Me” newsroom

The NY Times has an article about how a younger generation of news readers now focus on sharing the news, rather than just consuming it. Mathew Ingram highlights the key sentence in the article, from a college student: “If the news is that important, it will find me.” Very few mainstream publications have grasped that concept, even if some folks have been saying the same thing for years.

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