Lending normally drops during a recession. According to GAO survey, aggregate new lending by the top twenty TARP institutions in December and January amounted to roughly $245 billion up considerably from November’s $207 billion. TARP funds were first received on October 28 and November 14 for most of these institutions. See the Table below.
For more details how things are going, go to the recently released GAO publication. Click on the following: http://www.gao.gov/new.items/d09504.pdf?source=ra
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