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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: gregor_us who wrote (5912)	1/23/2004 10:04:10 AM
From: mishedlo	Read Replies (1) of 110194

Business Lending as Scarce as Jobs It's not just the economy's unwillingness to produce new jobs that's confounding the experts. The lack of growth in corporate bank borrowing is also giving them fits. Executives at banks both large and small continue to report that the demand for commercial loans remains sluggish at best, even though the government said the economy was growing at a sizzling 7% rate in the second half of 2003. The list of lenders that reported no significant pickup in commercial lending in fourth-quarter earnings reports includes Citigroup (C:NYSE - commentary - research), CIT Group (CIT:NYSE - commentary - research), FleetBoston Financial (FBF:NYSE - commentary - research), KeyCorp (KEY:NYSE - commentary - research), PNC (PNC:NYSE - commentary - research) and Wells Fargo (WFC:NYSE - commentary - research). The dollar volume of big syndicated bank loans to corporations fell 6.8% to $979 billion in 2003 from the prior year, according to Thomson Financial. The reluctance of companies to start borrowing again remains one of the mysteries of the economic recovery, and it could spell trouble for small and midsized banks that rely on corporate lending to fill their coffers. That's especially true if consumer borrowing starts to ebb this year, as many expect it will. thestreet.com =========================================================== What a bunch of total dimwits We have overcapacity and no one can figure out why commercial customers are not borrowing. Yet the FED is trying like mad to push this money down their throats. M

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