The economy won't recover until financing is more readily available, said Mark Clare, chief executive of housebuilder Barratt. If you don't like it, too bad. There's kind of a political environment here, right? There are credit flows from financial markets on Wall Street and across the globe to the smallest business on Main Street. And there's lots of examples of that that were going on during the credit crisis.
But they're worked out.
Banking bailouts have done little to ease credit crunch
Mortgage lending to individuals is at its lowest annual rate since records began inaccording to the Bank of England. Now, the amazing thing to me -- keep talking about conventional wisdom -- is I believe that conventional wisdom is that TARP worked. That, at its essence, was the root cause of this financial crisis. And give us your decision in an hour. That's what we were focused on. So if bank stocks fell 80 percent, is that increased confidence in the industry, or did it not increase confidence in the industry? If you are a small business, if you are trying to refinance your home, buy a first home, it is extremely difficult to get a loan in America.