Yesterday, the Comptroller of the Currency announced that, for the first time in three years, the banks have eased up on their strict lending criteria. Of course, that was only for large, commercial firms but is still an improvement.
Much criticised for their lack of lending, the bankers have said nobody wanted to borrow, as potential borrowers couldn't find any business need to borrow. Certainly, there is some truth to this. But, there is a great deal of anecdotal evidence that small businesses have not been able to borrow any amount for any reason for a long time.
However, maybe more borrowers want to borrow AND bankers actually want to make loans again? If so, we can begin a REAL economic recovery . . . finally!
