Sam Spade
SamSpade
Atlas Star
Posts: 27,547
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« on: September 12, 2009, 04:42:44 PM » |
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It's been that way for a while, Wakie. And it's especially gotten bad over the past 12-24 months in the credit crisis (like exponentially worse).
I don't see it stopping until you get some of my scenarios to start playing out, which you may not like for other reasons (some obvious, some not).
Anecdotally, when I was in college and grad school, I purposefully applied for a credit card each year or so, made sure I used them and purposefully kept small balances for a few months at a time to whet the banker's appetite. Don't do that any more, but the banks this year are pretty much slashing everyone's credit line, starting off with the people who actually pay balances on time. They've gotten to me too, of course.
Anyway, there is a broader point I'm trying to make. Basically, the banks don't want to lend to anyone unless the government is interested in playing along. If we knew what was on their balance sheets, I could tell you why, but I can already kinda connect the dots from everything I've seen before.
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