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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: SGJ who wrote (150197)9/25/2008 11:37:35 AM
From: Smiling BobRead Replies (2) of 306849
 
STL on NBR last night
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GURVEY: But that doesn't mean the system will come to a complete standstill. New York's 80-year old Sterling National Bank (STL) ran an ad in today's Wall Street Journal titled, "What Credit Crunch?" The ad says Sterling continues to provide financing for growing businesses. President John Millman says Sterling can still make loans because it avoided the traps others fell into.

JOHN MILLMAN, PRESIDENT, STERLING NATIONAL BANK: We do not do exotic things. We do not have involvement with subprime lending. We don't do home equity loans. We don't do auto leasing. We're not a retail bank. We're a business bank.
pbs.org
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It's out there. They're just reverting back to the old days of credit when you needed to prove you can repay.
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