President Obama issued a statement on Monday urging banks to do more lending and less bonuses. It’s understandable given the amount of money hoarding banks are doing these days in spite of businesses and homeowners in need of loans. However, one has to wonder what effects if any this plea will have on the banks. [...]
President Obama wants to put measures in place to help Americans put away more savings. With debt on the rise and savings dropping, it’s not a good look. The recipe for wealth has remained constant: no debt, vigilant saving. If that isn’t heeded, nothing changes. Thus, the President sees it necessary to implement some changes. [...]
