Whew – three postings in one day! Sorry, but there is a lot of noteworthy news today.
The Wall Street Journal is reporting today that fewer banks are tightening their credit standards. While credit remains difficult to obtain, the rush by banks to shut their credit taps in slowing down. For those of you that know calculus, the 2nd derivative has become negative. For those who don’t know calculus, the 2nd derivative is the change of the pace of change. Since that pace is now negative, it means that eventually lending will turn in the positive direction again. Mathematically speaking, this is the first thing that has to change in order for credit to improve, and it has finally changed direction. Hurray!
I hope that each of you has a great day!
Jason
0 Comments