Businesses like homes and autos, they require their customers to get credit, and banks are just not (and will not be soon) lending?
For starters you don't need bank lending to buy a house. The mass majority of home mortgages are FHA so in effect you're money is being lent to just about anyone who wants to buy a home. On the other hand, I just got a mortgage with 3% from a local bank with no problem at all. A friend of mine runs a company that trains truck drivers. Just about all their customers have bad credit and have to borrow 100% of the tuition. These are private loans, not gov't student loans. They're busy as all hell so appartently someone is willing to give $6,500 to people with bad credit and no job. I think this "there is no lending going on nonsense" is just that. Maybe there's less lending than in 2006 but it's far from being dead.
No need to respond to this jackass, he just typed some BS that was on his mind. Carry on Pikers... Rennick out
No PRIVATE lending is probably more apropos. It does seem that all sorts of federal programs are back into overdrive and clearly taking up the slack of traditional financing outlets.