Money to Lend?

In the “what the hell is going on” department, we have this about the (alleged?) credit crunch:

Despite all the turmoil in the recent weeks, and the failure of the bailout plan (so far) to stop the bleeding, the initial assessment that I wrote about back in early October seems to hold true: lending standards have certainly tightened, but money is out there if you know where to look.

Another panelist, David Bochnowski, CEO of Peoples Bank SB in Munster, Indiana, reinforced that assessment.  He said: “There is not a credit crisis from the standpoint of community banks.  We have money to lend.”

He said that their level of commercial lending has not gone down–not because economic activity isn’t down (it certainly is), but because small businesses are migrating from the big banks to the community banks.  Expect that trend to continue.

And there were plenty of banks that didn’t want to participate in the “bailout” because they, too, have plenty of money. Sometimes, it seems like the bailout’s really only for a few major players, namely those who bought most fervently into the house of cards created by the Fed, Fannie and Freddie, ACORN, and the rest…*

*Conspiracy theory warning: The most paranoid part of me thinks this entire crisis (real or imagined) has been engineered by a willing press, mixed economy businessmen, and the Left inside and outside of Washington as a means to destroy capitalism and gain unprecedented power. I mean, consider the timing… But, it’s a good thing I’m not so paranoid, then, and that I understand that such conspiracy theories aren’t necessary to explain things. The Left’s intellectual collusion is sufficient.

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