US Govt Wants Banks to Lend More: Wait, Wasn’t Easy Lending the Problem?

…While White House press secretary Robert Gibbs said the bankers agreed to take “second looks” at loans that had been denied, some executives cautioned that banks still needed to act judiciously.

“Not everyone is credit worthy in today’s world,” Robert Kelly, chairman and chief executive of Bank of New York Mellon said on CNBC after the meeting. The U.S. economy is recovering, he said, “but it’s really fragile.”

via Obama Says Banks Have Obligation to Aid in Recovery (Update3) – Bloomberg.com.

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