Monday, July 05, 2010

Retailers Ditch Banks To Go It Alone

Can’t tell you how many stories I’ve heard recently from businesses and even universities about financing.  Businesses in the black can’t convert from construction and even university buildings with full occupancy and 50% equity are turned down.february-5-1930-the-cash-on-the-sidelines-is-coming-back

Appears the banks are traumatized.

Article in NYT’s today indicates that major retailers aren’t going to wait around.  In an article entitled Retailers Devise Novel Ways To Revive Sales it appears some are even end running the banks to facilitate SBA loans.

As banks sit on the sidelines and the conservatives are determined to repeat the mistake of the 1930’s by ending stimulus too early and the Republicans are playing politics with unemployment benefits, it may be the oft vilified consumption economy to the rescue.

At least its leadership.

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