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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (458559)	2/22/2009 2:52:26 PM
From: Road Walker	Respond to of 1573927

So that makes residential loans out of the question......although there is a NC bank that's offering 5.5% loans using TARP money. But it seems to me the TARP money is doable when it comes to new construction loans and lines of credit. I don't remember what the interest rate on lines of credit typically are but construction loans usually had interest rates that were pegged 3-5% greater than residential loans. Do you know what the interest rate on your lines of credit are? No I don't... I have enough brain cells working without getting into finance. I'm not defending the banks by any means, but they are between a rock and a hard place. They put themselves there, but that doesn't change the current reality. They need to hoard cash to have healthy balance sheets and survive, and they need to lend cash to end the recession cycle. Same with the consumer.... it's great that they are finally saving and terrible that they are finally saving. There are no good choices... those of us that went through the inflation cycle of the 70's/80's remember that hopelessness well. Totally different but still a self perpetuating cycle with no apparent cure except pain.