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WaMu underscored its eagerness to lend with an advertising campaign introduced during the 2003 Academy Awards: "The Power of Yes".
As Oakeshott put it: "It means what they lend with one hand they can take away with the other".
Ditto the Wall Street bankers who enabled Countrywide to lend with abandon by selling their mortgages to investors.
But wait for it: this money – your money – will be given to the same big banks to lend, with the minimum of public oversight.
Enron's modern era dates back to the mid-1980's, and throughout that period Citigroup and J. P. Morgan Chase have been there to lend with both hands.
"Banks are continuing to restrict the amount of money that they are willing to lend, with them looking to strengthen, rather than expand, their balance sheets," she said.
Similar(39)
Not that the banks are lending with abandon now.
The catch is that the money is lent with interest.
Simply put, the lenders lent with unimaginable foolishness and made incredibly risky bets.
It promoted the expansionary policies of the 2000s, lending with abandon and resisting tighter regulation.
He emphasized the success of groups that combine lending with other initiatives, such as education and health care.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com