Banks

Posted by marmara on June 28, 2017

Crisis takes covers and summaries of television news. A crisis that causes pain and suffering to billions of people. But now, at this unbeatable neo-liberal capitalist world, which should not be rules or controls that most sacred abridging the freedom of enterprise, suddenly claims involving the state. And in the United States government and Federal Reserve come to the rescue of two mortgage finance powerful entities, Fannie Mae and Freddie Mac before the Government had nationalized IndyMac Bancorp, another large mortgage bank. Reason given: lack of liquidity. In Spain, which happens to be one tenth or eleventh world economic power, conservative parties (fervent believers in the neo-liberal capitalism, under which the State has never intervene in economics), have claimed that the government public banks, for they the lack of liquidity of private banks is worrying and the public banks would end the annoying problem that banks do not have actual, physical money that businesses and consumers require and request loans. CBC, Australia: the source for more info. In Spain, banks have refused in recent weeks half the required credits to buy cars. The same applies to mortgage loans, whose concession has dropped considerably.

According to a survey of the Spanish Confederation of Young Entrepreneurs Association, nearly 73% of respondents say young entrepreneurs have been denied a bank credit in recent months. They are neo-liberal yes, but while I have no problem when they do, are more interventionist than Lenin. With everyone’s money, of course, which is the state. Why refuse more credit if the delinquency was not worrying Spanish? The banks have no money, confessed a senior banking official at Deutsche Bank.

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