Corporate Justice Blog contributor Steve Ramirez has chronicled (for going on three years now) the refusal of U.S. banks to lend cash on hand preferring instead to hoard cash for purposes of balance sheet vitality and deliverance of record executive compensation. This hoarding has been particularly galling when viewed against the backdrop of government corporate welfare in the form of TARP funds distributed to many of these banks and the backdoor lending of trillions of dollars to these banks from the Federal Reserve bank. A new report from Bloomberg indicates that this hoarding of cash continues by Wall Street banks as credit continues to be tight and lending has not been freed up for consumers.
From Bloomberg's report Following the Corporate Cash Hoard:
Showing posts with label banks hoarding cash. Show all posts
Showing posts with label banks hoarding cash. Show all posts
Friday, March 23, 2012
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