The banks we have are under immense pressure to get loan off their books - so basically they are worthless to anyone trying to operate a business right now. Basically they keep one eye on the bank regulators sitting in the corner at all times. Don't let the media fool you, the regulators have no intentions of letting banks jump back into real estate. No real estate growth, no recovery.
One solution would be a whole new crop of local community banks, banks focused on actually helping their communities instead of sucking them dry for deposits and then cutting off all lending.
The Welter family in Valparaiso, supposedly wants to open just such a bank. Let's celebrate risk taking and innovation ... if they open a strong encouragement to check them out for your deposits, no reason to keep your money in banks that are damaging the economy in NW Indiana.
Saturday, January 24, 2009
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