Comments on: What Credit Crunch?

By: Peter Klein

Peter Klein — Wed, 29 Oct 2008 22:03:35 +0000

As an amusing side note, some NY Post reporters tried to document the crunch by applying for a bunch of loans, assuming they’d be turned down. Unfortunately (for the story), they mostly got the loans:

http://www.nypost.com/seven/10262008/news/regionalnews/bank_thaw_ending_borrow_sorrow_135388.htm

(Via Casey Mulligan)

By: PCLE

PCLE — Wed, 29 Oct 2008 14:40:48 +0000

David Beckworth has an interesting insight into this claim:
See:
http://macromarketmusings.blogspot.com/2008/10/is-there-credit-crunch-evidence-from.html

By: Mrs. Miller

Mrs. Miller — Fri, 24 Oct 2008 16:25:45 +0000

This is great information, Peter. I’ve passed it along to my students and socialist colleagues.

By: Peter Klein

Peter Klein — Thu, 23 Oct 2008 03:39:03 +0000

The link seems to work now — perhaps the flood of page requests from the O&M readership crashed the server! (I was kinda hoping the Fed made them take it down, which would make for a good conspiracy story.) I’m making a backup copy just in case.

By: Michael E. Marotta

Michael E. Marotta — Wed, 22 Oct 2008 23:09:29 +0000

That link to the Minneapolis FRB does not work now. (And it was paper #666.) However, this story from Forbes, by Alan Reynolds makes the same point.

Commentary
Bank Loans Have Not ‘Dried Up’
Alan Reynolds 10.01.08, 2:25 PM ET
http://www.forbes.com/2008/10/01/interbank-lending-ted-oped-cx_ar_1001reynolds.html

He provides a nice chart.

By: Mike Moffatt

Mike Moffatt — Wed, 22 Oct 2008 18:33:01 +0000

I knew it was just a matter of time before we agreed on something!

I can’t figure out why this data isn’t getting any play in the media. I’m rather baffled, quite frankly.