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Loan Modification

: Mortgage Lender Implode-o-Meter

The Economy?s Vicious Cycle for Michigan Banks and Business

By Implode-Explode Heavy Industries

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" The video below from the Wall Street Journal gets at the heart of why the bailouts have been so toxic for the economy. Banks, still laden with existing bad loans to small businesses, are unwilling to make new ones. Businesses, unable to receive credit, cannot expand or must downsize. This in turn outs a squeeze on consumers who underpin 70% of economic output."

Full post as published by Mortgage Lender Implode-o-Meter on March 15, 2010 (boomark / email).

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