What is this - the second or third or tenth wave in how we are averting a second Great Depression?
Oh-oh.Unlike the largest banks, such as Citigroup and Wachovia, that got into so much trouble early on, the community banks in general fared better in the residential mortgage crisis. But their turn is coming: Not only did community banks issue a higher proportion of commercial loans, but they also have held on to them rather than sell them to other investors.
1 comment:
Maybe by holding on to them they took more care in their lending practices. We can only hope.
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