Obama Presses Bank Chiefs to Lend More
The heads of the largest U.S. banks will meet with President Obama on Dec. 14 to discuss the decline in lending over the past five quarters and the need for financial reform legislation.
Obama has called the top bankers to the White House because he wants the banking industry, which has lobbied heavily against more oversight, to lend more.
The administration says banking executives should show proper gratitude for its efforts to help rescue the industry, which has tapped public aid to return to profitability.
Source: Washington Post, Binyamin Appelbaum (12/14/09)
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