Word: crunches
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Move over, commercial lending and home foreclosures. The falling number of bank loans is emerging as the No. 1 economic concern of 2010. But while many expect the credit crunch to continue, falling bank loans might not be as bad a problem as many people think...
...analysts are worried. In late December, President Obama summoned the heads of the nation's largest banks to the White House to urge them to make more loans to small and medium-size businesses. Federal Reserve Chairman Ben Bernanke too has mentioned in recent speeches the continued credit crunch as an economic concern. (See how Americans are spending...
...instance, Lenihan unleashed deeply unpopular cuts in public-sector pay that look set to trigger strike action. But when it comes to a spending squeeze of their own, says Tilford, "the Greeks are a long way from recognizing that they really have no choice." (Read "Ireland's Economy: Celtic Crunch Time...
...made redundant and now live on benefits as a result of the credit crunch brought about by our banking fraternity. Like many, I felt disappointed that, after being rescued with billions in taxpayers' money, they were still trying to give each other annual million-dollar bonuses. But then I felt better - I too was to receive a Christmas bonus: an extra ?10 in my December unemployment benefits. I can now almost afford a haircut. Joe Field, LONDON...
...typical municipality is now paying 3.7% when they issue a bond, down from as high as 4.5% in January, before the BABs program was announced, according to Barclays Capital. Some of the drop in yields reflects the improvement in the economy in general, and the easing of the credit crunch. But muni-bond-market observers say BABs have played an important role as well...